FDx Advisors Inc. Reduces Position in The Coca-Cola Co (KO)

FDx Advisors Inc. reduced its position in shares of The Coca-Cola Co (NYSE:KO) by 2.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 325,298 shares of the company’s stock after selling 7,600 shares during the period. FDx Advisors Inc.’s holdings in The Coca-Cola were worth $14,642,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Lyell Wealth Management LP increased its holdings in The Coca-Cola by 0.6% during the 2nd quarter. Lyell Wealth Management LP now owns 7,950 shares of the company’s stock worth $359,000 after purchasing an additional 50 shares in the last quarter. Vigilant Capital Management LLC increased its holdings in The Coca-Cola by 1.9% during the 2nd quarter. Vigilant Capital Management LLC now owns 3,593 shares of the company’s stock worth $161,000 after purchasing an additional 68 shares in the last quarter. Atlantic Trust LLC increased its holdings in The Coca-Cola by 1.4% during the 2nd quarter. Atlantic Trust LLC now owns 6,304 shares of the company’s stock worth $283,000 after purchasing an additional 89 shares in the last quarter. Noesis Capital Mangement Corp increased its holdings in The Coca-Cola by 1.0% during the 2nd quarter. Noesis Capital Mangement Corp now owns 8,680 shares of the company’s stock worth $389,000 after purchasing an additional 90 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC increased its holdings in The Coca-Cola by 0.6% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 16,963 shares of the company’s stock worth $753,000 after purchasing an additional 95 shares in the last quarter. 65.30% of the stock is currently owned by institutional investors and hedge funds.

In other news, insider J Alexander Douglas, Jr. sold 338,009 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $46.09, for a total value of $15,578,834.81. Following the completion of the transaction, the insider now directly owns 320,013 shares of the company’s stock, valued at $14,749,399.17. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.51% of the company’s stock.

A number of analysts have commented on the company. Evercore ISI raised The Coca-Cola from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $46.04 to $55.00 in a report on Friday. Goldman Sachs Group set a $49.00 price objective on The Coca-Cola and gave the stock a “sell” rating in a report on Wednesday. Vetr lowered The Coca-Cola from a “strong-buy” rating to a “hold” rating and set a $47.54 price objective for the company. in a report on Monday, January 8th. Jefferies Group set a $50.00 price objective on The Coca-Cola and gave the stock a “neutral” rating in a report on Thursday, January 4th. Finally, Royal Bank of Canada set a $56.00 price objective on The Coca-Cola and gave the stock a “buy” rating in a report on Tuesday, January 2nd. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eleven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $49.01.

The Coca-Cola Co (NYSE KO) opened at $46.15 on Friday. The stock has a market capitalization of $196,630.00, a P/E ratio of 43.95, a PEG ratio of 3.69 and a beta of 0.70. The company has a quick ratio of 1.30, a current ratio of 1.39 and a debt-to-equity ratio of 1.47. The Coca-Cola Co has a twelve month low of $40.22 and a twelve month high of $47.48.

The Coca-Cola (NYSE:KO) last released its earnings results on Wednesday, October 25th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.01. The company had revenue of $9.08 billion during the quarter, compared to analyst estimates of $8.73 billion. The Coca-Cola had a return on equity of 36.21% and a net margin of 12.20%. The Coca-Cola’s quarterly revenue was down 14.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.49 earnings per share. analysts anticipate that The Coca-Cola Co will post 1.91 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend was Thursday, November 30th. The Coca-Cola’s dividend payout ratio is presently 140.95%.

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About The Coca-Cola

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 The Coca-Cola (NYSE:KO)

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