Crestpoint Capital Management Lowers stake in The Coca-Cola Co (KO)

The Coca-Cola Co (KO) : Crestpoint Capital Management reduced its stake in The Coca-Cola Co by 24.43% during the most recent quarter end. The investment management company now holds a total of 56,000 shares of The Coca-Cola Co which is valued at $2,581,600 after selling 18,100 shares in The Coca-Cola Co , the firm said in a disclosure report filed with the SEC on Apr 15, 2016.The Coca-Cola Co makes up approximately 1.39% of Crestpoint Capital Management’s portfolio.

The Coca-Cola Co closed down -0.71 points or -1.60% at $43.66 with 3,72,06,893 shares getting traded on Wednesday. Post opening the session at $44.26, the shares hit an intraday low of $42.87 and an intraday high of $44.28 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Other Hedge Funds, Including , First Hawaiian Bank sold out all of its stake in KO during the most recent quarter. The investment firm sold 5,081 shares of KO which is valued $234,234. Visionary Asset Management added KO to its portfolio by purchasing 55,129 company shares during the most recent quarter which is valued at $2,541,447. The Coca-Cola Co makes up approx 0.89% of Visionary Asset Management’s portfolio.Heritage Investors Management Corp reduced its stake in KO by selling 6,013 shares or 1.72% in the most recent quarter. The Hedge Fund company now holds 344,094 shares of KO which is valued at $15,862,733. The Coca-Cola Co makes up approx 1.21% of Heritage Investors Management Corp’s portfolio.Lenox Wealth Advisors boosted its stake in KO in the latest quarter, The investment management firm added 202 additional shares and now holds a total of 1,526 shares of The Coca-Cola Co which is valued at $70,349. The Coca-Cola Co makes up approx 0.02% of Lenox Wealth Advisors’s portfolio.

On the company’s financial health, The Coca-Cola Co reported $0.45 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 20, 2016. Analyst had a consensus of $0.44. The company had revenue of $10282.00 million for the quarter, compared to analysts expectations of $10235.65 million. The company’s revenue was down -4.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.48 EPS.

Many Wall Street Analysts have commented on The Coca-Cola Co. Shares were Reiterated by UBS on Apr 21, 2016 to “Buy” and Lowered the Price Target to $ 51 from a previous price target of $52 .Company shares were Reiterated by UBS on Apr 4, 2016 to “Buy”, Firm has raised the Price Target to $ 52 from a previous price target of $49 .Company shares were Reiterated by RBC Capital Mkts on Mar 10, 2016 to “Outperform”, Firm has raised the Price Target to $ 51 from a previous price target of $47 .

The Coca-Cola Company is a beverage company. The Company owns or licenses and markets more than 500 nonalcoholic beverage brands primarily sparkling beverages but also a range of still beverages such as waters enhanced waters juices and juice drinks ready-to-drink teas and coffees and energy and sports drinks. It owns and markets a range of nonalcoholic sparkling beverage brands such as Coca-Cola Diet Coke Fanta and Sprite. The Company makes its beverage products available to consumers throughout the world through its network of Company-owned or controlled bottling and distribution operations as well as independent bottling partners distributors wholesalers and retailers. The Company’s segments include Eurasia and Africa Europe Latin America North America Asia Pacific Bottling Investments and Corporate.

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