The Coca-Cola Co (KO) : Stralem Co Inc reduced its stake in The Coca-Cola Co by 9.69% during the most recent quarter end. The investment management company now holds a total of 621,720 shares of The Coca-Cola Co which is valued at $28,294,477 after selling 66,700 shares in The Coca-Cola Co , the firm said in a disclosure report filed with the SEC on Jul 19, 2016.The Coca-Cola Co makes up approximately 3.20% of Stralem Co Inc’s portfolio.
Other Hedge Funds, Including , Murphy Capital Management Inc boosted its stake in KO in the latest quarter, The investment management firm added 157 additional shares and now holds a total of 159,946 shares of The Coca-Cola Co which is valued at $7,279,142. The Coca-Cola Co makes up approx 1.09% of Murphy Capital Management Inc’s portfolio.Crestpoint Capital Management reduced its stake in KO by selling 700 shares or 1.25% in the most recent quarter. The Hedge Fund company now holds 55,300 shares of KO which is valued at $2,523,339. The Coca-Cola Co makes up approx 1.30% of Crestpoint Capital Management’s portfolio.Naples Global Advisors reduced its stake in KO by selling 50 shares or 0.24% in the most recent quarter. The Hedge Fund company now holds 20,932 shares of KO which is valued at $957,430. The Coca-Cola Co makes up approx 0.38% of Naples Global Advisors’s portfolio.Laurel Wealth Advisors reduced its stake in KO by selling 773 shares or 2.25% in the most recent quarter. The Hedge Fund company now holds 33,564 shares of KO which is valued at $1,523,134. The Coca-Cola Co makes up approx 0.74% of Laurel Wealth Advisors’s portfolio.
The Coca-Cola Co closed down -0.12 points or -0.26% at $45.51 with 84,78,211 shares getting traded on Wednesday. Post opening the session at $45.75, the shares hit an intraday low of $45.39 and an intraday high of $45.77 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
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.
Investors should note that on Jul 21, 2016, The Coca-Cola Co announced a cash dividend of $0.3500. The company’s management has announced Sep 13, 2016 as the ex-dividend date and fixed the record date on Sep 15, 2016. The payable date has been fixed on Oct 3, 2016.
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 .
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 Companys segments include Eurasia and Africa Europe Latin America North America Asia Pacific Bottling Investments and Corporate.