Trade Report: The Twin Capital Management Inc. Sold shares of Coca-Cola Co. (KO)

The Twin Capital Management Inc. Sold shares of Coca-Cola Co. (KO)

Twin Capital Management Inc. reduced its position in Coca-Cola Co. (NYSE:KO) by 1.7% during the second quarter, Holdings Channel reports. The institutional investor owned 155,460 shares of the company’s stock after selling 2,640 shares during the period. Twin Capital Management Inc.’s holdings in Coca-Cola were worth $7,047,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the company. State Street Corp increased its stake in Coca-Cola by 0.9% in the first quarter. State Street Corp now owns 167,467,138 shares of the company’s stock worth $7,768,816,000 after buying an additional 1,511,559 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in Coca-Cola by 0.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 102,413,710 shares of the company’s stock worth $4,750,972,000 after buying an additional 843,493 shares during the period. BlackRock Fund Advisors increased its stake in Coca-Cola by 1.1% in the first quarter. BlackRock Fund Advisors now owns 56,120,005 shares of the company’s stock worth $2,603,407,000 after buying an additional 623,080 shares during the period. Bank of New York Mellon Corp increased its stake in Coca-Cola by 2.3% in the second quarter. Bank of New York Mellon Corp now owns 47,084,172 shares of the company’s stock worth $2,134,326,000 after buying an additional 1,077,013 shares during the period. Finally, Suntrust Banks Inc. increased its stake in Coca-Cola by 0.8% in the second quarter. Suntrust Banks Inc. now owns 41,237,033 shares of the company’s stock worth $1,869,273,000 after buying an additional 330,121 shares during the period. 64.33% of the stock is owned by institutional investors.

Coca-Cola Co. (NYSE:KO) traded up 0.05% during trading on Friday, reaching $41.73. 8,122,809 shares of the company were exchanged. The stock has a market capitalization of $180.11 billion, a price-to-earnings ratio of 24.01 and a beta of 0.59. Coca-Cola Co. has a one year low of $40.75 and a one year high of $47.13. The firm’s 50 day moving average price is $42.80 and its 200-day moving average price is $44.48.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.02. Coca-Cola had a net margin of 17.61% and a return on equity of 32.78%. The business earned $11.50 billion during the quarter, compared to the consensus estimate of $11.69 billion. During the same quarter last year, the firm posted $0.63 EPS. Coca-Cola’s revenue was down 5.1% compared to the same quarter last year. On average, equities research analysts predict that Coca-Cola Co. will post $1.91 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Thursday, September 15th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 3.35%. The ex-dividend date was Tuesday, September 13th. Coca-Cola’s payout ratio is currently 80.46%.

KO has been the subject of several recent analyst reports. Citigroup Inc. reaffirmed a “buy” rating and issued a $50.00 target price on shares of Coca-Cola in a research note on Monday, September 19th. Zacks Investment Research raised shares of Coca-Cola from a “sell” rating to a “hold” rating in a research note on Monday, September 12th. Susquehanna reaffirmed a “hold” rating on shares of Coca-Cola in a research note on Monday, August 22nd. Jefferies Group reaffirmed a “hold” rating on shares of Coca-Cola in a research note on Thursday, August 25th. Finally, Stifel Nicolaus downgraded shares of Coca-Cola from a “buy” rating to a “hold” rating and lowered their target price for the company from $50.00 to $45.00 in a research note on Thursday, September 29th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $46.50.

About Coca-Cola

The Coca-Cola Company is a beverage company. The Company owns or licenses and markets over 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.

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