The Coca-Cola Company (NYSE:KO) Stake Reduced by Capital Wealth Planning LLC

Capital Wealth Planning LLC cut its holdings in The Coca-Cola Company (NYSE:KO) by 99.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,130 shares of the company’s stock after selling 3,054,488 shares during the quarter. Capital Wealth Planning LLC’s holdings in Coca-Cola were worth $645,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Angeles Investment Advisors LLC raised its position in Coca-Cola by 3.0% in the second quarter. Angeles Investment Advisors LLC now owns 18,913 shares of the company’s stock worth $1,207,000 after acquiring an additional 543 shares in the last quarter. Fairfield Financial Advisors LTD acquired a new stake in Coca-Cola during the 2nd quarter worth about $65,000. Brown Brothers Harriman & Co. raised its holdings in Coca-Cola by 2.9% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 209,513 shares of the company’s stock worth $13,336,000 after buying an additional 5,903 shares during the period. Quilter Plc raised its holdings in Coca-Cola by 3.0% during the 2nd quarter. Quilter Plc now owns 1,369,560 shares of the company’s stock worth $87,172,000 after buying an additional 39,902 shares during the period. Finally, Tennessee Valley Asset Management Partners acquired a new stake in Coca-Cola during the 2nd quarter worth about $310,000. 70.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on KO shares. Argus boosted their price objective on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. Bank of America lifted their target price on Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft lifted their target price on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Citigroup lifted their target price on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, TD Cowen lifted their target price on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Coca-Cola presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.73.

Coca-Cola Stock Up 0.3 %

Shares of Coca-Cola stock opened at $71.41 on Monday. The stock has a market capitalization of $307.63 billion, a P/E ratio of 28.56, a PEG ratio of 3.93 and a beta of 0.60. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The stock has a 50 day moving average price of $68.28 and a two-hundred day moving average price of $63.95. The Coca-Cola Company has a 12-month low of $51.55 and a 12-month high of $73.53.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The company had revenue of $12.40 billion during the quarter, compared to analyst estimates of $11.78 billion. During the same period in the previous year, the company earned $0.78 earnings per share. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. Equities analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be issued a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.72%. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Insider Activity at Coca-Cola

In related news, EVP Nancy Quan sold 19,304 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $64.96, for a total value of $1,253,987.84. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at $14,507,516.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Coca-Cola news, EVP Nancy Quan sold 19,304 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $64.96, for a total value of $1,253,987.84. Following the sale, the executive vice president now directly owns 223,330 shares in the company, valued at $14,507,516.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James Quincey sold 42,397 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $70.02, for a total value of $2,968,637.94. Following the sale, the chief executive officer now owns 442,546 shares in the company, valued at approximately $30,987,070.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 974,715 shares of company stock worth $579,704,927. 0.97% of the stock is owned by corporate insiders.

Coca-Cola Company Profile

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.