Ullmann Financial Group Inc. cut its holdings in shares of The Coca-Cola Co (NYSE:KO) by 28.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 16,541 shares of the company’s stock after selling 6,500 shares during the quarter. The Coca-Cola comprises about 0.6% of Ullmann Financial Group Inc.’s holdings, making the stock its 24th largest position. Ullmann Financial Group Inc.’s holdings in The Coca-Cola were worth $783,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Cognios Capital LLC acquired a new position in shares of The Coca-Cola in the 2nd quarter worth approximately $1,014,000. Signaturefd LLC lifted its position in shares of The Coca-Cola by 27.2% in the 2nd quarter. Signaturefd LLC now owns 660,147 shares of the company’s stock worth $28,954,000 after purchasing an additional 140,972 shares during the period. Bontempo Ohly Capital Mgmt LLC lifted its position in shares of The Coca-Cola by 1.7% in the 2nd quarter. Bontempo Ohly Capital Mgmt LLC now owns 70,938 shares of the company’s stock worth $3,111,000 after purchasing an additional 1,172 shares during the period. Zacks Investment Management lifted its position in shares of The Coca-Cola by 0.9% in the 2nd quarter. Zacks Investment Management now owns 908,095 shares of the company’s stock worth $39,829,000 after purchasing an additional 8,278 shares during the period. Finally, New England Asset Management Inc. lifted its position in shares of The Coca-Cola by 14.9% in the 2nd quarter. New England Asset Management Inc. now owns 78,925 shares of the company’s stock worth $3,462,000 after purchasing an additional 10,225 shares during the period. Institutional investors and hedge funds own 65.53% of the company’s stock.
In other news, insider Jennifer K. Mann sold 15,100 shares of the firm’s stock in a transaction on Monday, November 19th. The stock was sold at an average price of $50.40, for a total transaction of $761,040.00. Following the completion of the transaction, the insider now directly owns 40,058 shares in the company, valued at $2,018,923.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Larry M. Mark sold 75,538 shares of the firm’s stock in a transaction on Friday, November 9th. The shares were sold at an average price of $49.51, for a total value of $3,739,886.38. Following the transaction, the vice president now owns 85,755 shares of the company’s stock, valued at $4,245,730.05. The disclosure for this sale can be found here. In the last quarter, insiders sold 374,542 shares of company stock valued at $18,436,957. 1.48% of the stock is owned by corporate insiders.
The Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, October 30th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.03. The business had revenue of $8.25 billion during the quarter, compared to the consensus estimate of $8.20 billion. The Coca-Cola had a return on equity of 43.12% and a net margin of 8.70%. The firm’s quarterly revenue was down 9.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.50 earnings per share. On average, analysts predict that The Coca-Cola Co will post 2.08 EPS for the current year.
A number of brokerages recently weighed in on KO. Citigroup set a $56.00 price target on shares of The Coca-Cola and gave the stock a “buy” rating in a report on Friday, November 9th. Morgan Stanley set a $50.00 price target on The Coca-Cola and gave the stock a “neutral” rating in a research note on Monday, October 15th. Morningstar set a $49.00 price target on The Coca-Cola and gave the stock a “neutral” rating in a research note on Tuesday, November 6th. Macquarie reaffirmed a “neutral” rating and issued a $47.00 price target on shares of The Coca-Cola in a research note on Thursday, October 4th. Finally, Bank of America set a $55.00 price target on The Coca-Cola and gave the stock a “buy” rating in a research note on Friday, December 14th. Fourteen research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $51.64.
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About The Coca-Cola
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides water, enhanced water, and sports drinks; juices; juice, dairy, and plantbased beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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