The Coca-Cola Company (NYSE:KO) is Planning Capital Management Corp’s 8th Largest Position

Planning Capital Management Corp lessened its stake in The Coca-Cola Company (NYSE:KO) by 3.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,749 shares of the company’s stock after selling 2,218 shares during the period. Coca-Cola comprises approximately 3.1% of Planning Capital Management Corp’s investment portfolio, making the stock its 8th largest holding. Planning Capital Management Corp’s holdings in Coca-Cola were worth $4,725,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. New Millennium Group LLC acquired a new stake in Coca-Cola during the second quarter valued at $26,000. Quarry LP acquired a new stake in shares of Coca-Cola during the 2nd quarter valued at about $27,000. ESL Trust Services LLC acquired a new stake in shares of Coca-Cola during the 1st quarter valued at about $28,000. Hara Capital LLC purchased a new position in shares of Coca-Cola in the 3rd quarter valued at about $35,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new position in Coca-Cola in the 3rd quarter worth about $36,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Activity

In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the completion of the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $15,968,095. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the completion of the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at $15,968,095. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Lisa Chang sold 40,334 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $69.54, for a total transaction of $2,804,826.36. Following the completion of the sale, the executive vice president now directly owns 74,067 shares in the company, valued at $5,150,619.18. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 303,748 shares of company stock valued at $20,677,431. 0.97% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

KO has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft boosted their price objective on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. Barclays reduced their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Citigroup lifted their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Royal Bank of Canada upped their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Finally, Morgan Stanley lowered their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $72.36.

Coca-Cola Stock Performance

NYSE KO opened at $63.02 on Thursday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The stock’s fifty day moving average is $68.99 and its two-hundred day moving average is $66.51. The firm has a market capitalization of $271.48 billion, a P/E ratio of 26.04, a price-to-earnings-growth ratio of 3.84 and a beta of 0.61. The Coca-Cola Company has a fifty-two week low of $56.70 and a fifty-two week high of $73.53.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The firm had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. During the same quarter in the previous year, the company posted $0.74 EPS. The company’s revenue was down .8% compared to the same quarter last year. On average, research analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.485 per share. The ex-dividend date is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.08%. Coca-Cola’s dividend payout ratio is currently 80.17%.

About Coca-Cola

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.