Southeast Asset Advisors Lowers stake in The Coca-Cola Co (KO)

The Coca-Cola Co (KO) : Southeast Asset Advisors reduced its stake in The Coca-Cola Co by 10.14% during the most recent quarter end. The investment management company now holds a total of 142,436 shares of The Coca-Cola Co which is valued at $6,271,457 after selling 16,075 shares in The Coca-Cola Co , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.The Coca-Cola Co makes up approximately 2.09% of Southeast Asset Advisors’s portfolio.

Other Hedge Funds, Including , Osterweis Capital Management Inc reduced its stake in KO by selling 240 shares or 1.37% in the most recent quarter. The Hedge Fund company now holds 17,312 shares of KO which is valued at $762,247. The Coca-Cola Co makes up approx 0.05% of Osterweis Capital Management Inc’s portfolio.Tarbox Group boosted its stake in KO in the latest quarter, The investment management firm added 3 additional shares and now holds a total of 10,204 shares of The Coca-Cola Co which is valued at $445,201. The Coca-Cola Co makes up approx 0.31% of Tarbox Group’s portfolio.Sumitomo Mitsui Asset Management Company Ltd reduced its stake in KO by selling 123,202 shares or 11.94% in the most recent quarter. The Hedge Fund company now holds 908,596 shares of KO which is valued at $39,642,043. The Coca-Cola Co makes up approx 1.16% of Sumitomo Mitsui Asset Management Company Ltd’s portfolio.

The Coca-Cola Co opened for trading at $43.34 and hit $43.61 on the upside on Monday, eventually ending the session at $43.54, with a gain of 0.51% or 0.22 points. The heightened volatility saw the trading volume jump to 95,44,573 shares. Company has a market cap of $187,920 M.

On the company’s financial health, The Coca-Cola Co reported $0.60 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.58. The company had revenue of $11539.00 million for the quarter, compared to analysts expectations of $11629.87 million. The company’s revenue was down -5.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.63 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 Stifel on Jul 28, 2016 to “Buy” and Lowered the Price Target to $ 50 from a previous price target of $54 .

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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