Latest Stocks: Patten & Patten Inc. TN Raises Position in The Coca-Cola Co (KO)

Latest Stocks: Patten & Patten Inc. TN Raises Position in The Coca-Cola Co (KO)

Patten & Patten Inc. TN raised its position in The Coca-Cola Co (NYSE:KO) by 12.5% during the first quarter, Holdings Channel reports. The fund owned 212,749 shares of the company’s stock after buying an additional 23,642 shares during the period. Patten & Patten Inc. TN’s holdings in The Coca-Cola were worth $9,029,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. DnB Asset Management AS raised its position in The Coca-Cola by 14.6% in the first quarter. DnB Asset Management AS now owns 749,165 shares of the company’s stock worth $31,795,000 after buying an additional 95,700 shares during the last quarter. Evanson Asset Management LLC raised its position in The Coca-Cola by 10.8% in the first quarter. Evanson Asset Management LLC now owns 8,410 shares of the company’s stock worth $357,000 after buying an additional 823 shares during the last quarter. Gateway Investment Advisers LLC raised its position in The Coca-Cola by 1.9% in the first quarter. Gateway Investment Advisers LLC now owns 2,348,921 shares of the company’s stock worth $99,688,000 after buying an additional 43,735 shares during the last quarter. Jolley Asset Management LLC raised its position in The Coca-Cola by 4.1% in the first quarter. Jolley Asset Management LLC now owns 5,058 shares of the company’s stock worth $215,000 after buying an additional 200 shares during the last quarter. Finally, Vicus Capital raised its position in The Coca-Cola by 2.2% in the first quarter. Vicus Capital now owns 38,534 shares of the company’s stock worth $1,635,000 after buying an additional 846 shares during the last quarter. 63.88% of the stock is currently owned by institutional investors and hedge funds.

Shares of The Coca-Cola Co (NYSE:KO) opened at 45.99 on Tuesday. The company’s 50 day moving average price is $43.98 and its 200 day moving average price is $42.28. The Coca-Cola Co has a 12 month low of $39.88 and a 12 month high of $46.01. The company has a market capitalization of $196.50 billion, a P/E ratio of 32.36 and a beta of 0.69.

The Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, April 25th. The company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by $0.01. The Coca-Cola had a net margin of 15.59% and a return on equity of 32.94%. The company had revenue of $9.12 billion during the quarter, compared to the consensus estimate of $8.85 billion. During the same period last year, the firm posted $0.45 EPS. The company’s revenue was down 11.3% on a year-over-year basis. Analysts expect that The Coca-Cola Co will post $1.89 EPS for the current fiscal year.

A number of research analysts have commented on the company. Barclays PLC set a $45.00 price objective on The Coca-Cola and gave the company a “neutral” rating in a report on Monday, May 29th. Morgan Stanley set a $45.00 price objective on The Coca-Cola and gave the company a “neutral” rating in a report on Monday, May 29th. Vetr lowered The Coca-Cola from a “hold” rating to a “sell” rating and set a $44.58 price objective on the stock. in a report on Monday. Susquehanna Bancshares Inc set a $38.00 price objective on The Coca-Cola and gave the company a “hold” rating in a report on Saturday, March 25th. Finally, Gabelli reaffirmed a “hold” rating on shares of The Coca-Cola in a report on Saturday, February 11th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $44.53. In related news, insider Irial Finan sold 354,146 shares of the business’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $45.00, for a total transaction of $15,936,570.00. Following the transaction, the insider now owns 780,258 shares in the company, valued at approximately $35,111,610. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider J Alexander Douglas, Jr. sold 22,000 shares of the business’s stock in a transaction dated Wednesday, May 3rd. The shares were 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 approximately $13,815,607. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 463,946 shares of company stock worth $20,701,224. 1.54% of the stock is owned by company insiders.

Want to see what other hedge funds are holding KO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Coca-Cola Co (NYSE:KO).

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