Virtu Financial LLC Sells 31,042 Shares of Coca-Cola Company (The) (NYSE:KO)

Virtu Financial LLC lowered its position in shares of Coca-Cola Company (The) (NYSE:KO) by 81.6% during the first quarter, Holdings Channel reports. The fund owned 6,999 shares of the company’s stock after selling 31,042 shares during the period. Virtu Financial LLC’s holdings in Coca-Cola Company (The) were worth $297,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Northwest Quadrant Wealth Management LLC bought a new position in Coca-Cola Company (The) during the fourth quarter worth $198,000. Exchange Capital Management Inc. raised its position in Coca-Cola Company (The) by 2.9% in the fourth quarter. Exchange Capital Management Inc. now owns 19,426 shares of the company’s stock worth $805,000 after buying an additional 543 shares during the last quarter. Monetary Management Group Inc. raised its position in Coca-Cola Company (The) by 5.8% in the fourth quarter. Monetary Management Group Inc. now owns 11,025 shares of the company’s stock worth $457,000 after buying an additional 600 shares during the last quarter. Credit Agricole S A raised its position in Coca-Cola Company (The) by 3.2% in the fourth quarter. Credit Agricole S A now owns 4,411,584 shares of the company’s stock worth $182,904,000 after buying an additional 135,541 shares during the last quarter. Finally, Citizens & Northern Corp increased its stake in shares of Coca-Cola Company (The) by 3.8% in the fourth quarter. Citizens & Northern Corp now owns 30,824 shares of the company’s stock worth $1,278,000 after buying an additional 1,134 shares during the period. 63.94% of the stock is owned by institutional investors and hedge funds.

Shares of Coca-Cola Company (KO) opened at 44.73 on Tuesday. The company has a 50-day moving average price of $44.99 and a 200 day moving average price of $42.80. Coca-Cola Company has a 52 week low of $39.88 and a 52 week high of $46.06. The stock has a market capitalization of $191.11 billion, a PE ratio of 31.48 and a beta of 0.69.

Coca-Cola Company (The) (NYSE:KO) last released its quarterly earnings data on Tuesday, April 25th. The company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.44 by $0.01. The firm had revenue of $9.12 billion for the quarter, compared to analysts’ expectations of $8.85 billion. Coca-Cola Company (The) had a return on equity of 33.17% and a net margin of 15.30%. The company’s revenue for the quarter was down 11.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.45 earnings per share. Equities analysts forecast that Coca-Cola Company will post $1.89 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 3rd. Shareholders of record on Thursday, June 15th were issued a dividend of $0.37 per share. The ex-dividend date was Tuesday, June 13th. This represents a $1.48 annualized dividend and a yield of 3.31%. Coca-Cola Company (The)’s payout ratio is currently 103.50%.

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A number of brokerages have recently issued reports on KO. BidaskClub downgraded Coca-Cola Company (The) from a “buy” rating to a “hold” rating in a research report on Saturday, July 1st. Stifel Nicolaus reiterated a “hold” rating and set a $41.00 price target on shares of Coca-Cola Company (The) in a research report on Monday, April 24th. Goldman Sachs Group, Inc. (The) reiterated a “sell” rating and set a $41.00 price target on shares of Coca-Cola Company (The) in a research report on Wednesday, April 26th. Wells Fargo & Company reiterated a “market perform” rating and set a $43.00 price target on shares of Coca-Cola Company (The) in a research report on Friday, April 28th. Finally, Zacks Investment Research upgraded Coca-Cola Company (The) from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a research report on Tuesday, June 27th. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nine have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $45.17.

In other Coca-Cola Company (The) news, insider Brian John Smith sold 87,800 shares of the firm’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $43.43, for a total transaction of $3,813,154.00. Following the transaction, the insider now directly owns 149,185 shares in the company, valued at approximately $6,479,104.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider J Alexander Douglas, Jr. sold 22,000 shares of the firm’s stock in a transaction on Wednesday, May 3rd. The stock was sold at an average price of $43.25, for a total value of $951,500.00. Following the transaction, the insider now owns 319,436 shares in the company, valued at $13,815,607. The disclosure for this sale can be found here. Insiders have sold a total of 493,228 shares of company stock worth $22,024,770 over the last 90 days. 1.51% of the stock is currently owned by company insiders.

About Coca-Cola Company (The)

The Coca-Cola Company is a beverage company. The Company owns or licenses and markets non-alcoholic beverage brands, primarily sparkling beverages and a range of still beverages, such as waters, flavored waters and enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, sports drinks, dairy and energy drinks.

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Institutional Ownership by Quarter for Coca-Cola Company (The) (NYSE:KO)

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