Buck Wealth Strategies LLC Sells 16,600 Shares of The Coca-Cola Company (NYSE:KO)

Buck Wealth Strategies LLC cut its stake in shares of The Coca-Cola Company (NYSE:KO) by 13.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 103,705 shares of the company’s stock after selling 16,600 shares during the quarter. Coca-Cola accounts for about 2.3% of Buck Wealth Strategies LLC’s portfolio, making the stock its 16th largest position. Buck Wealth Strategies LLC’s holdings in Coca-Cola were worth $7,452,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in KO. New Millennium Group LLC acquired a new position in shares of Coca-Cola in the second quarter valued at approximately $26,000. Quarry LP bought a new stake in Coca-Cola during the 2nd quarter worth approximately $27,000. ESL Trust Services LLC acquired a new position in Coca-Cola in the 1st quarter valued at approximately $28,000. Hara Capital LLC bought a new position in shares of Coca-Cola during the third quarter valued at $35,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Coca-Cola during the third quarter worth $36,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

KO has been the subject of a number of recent research reports. Cfra restated a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Barclays lowered their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Wells Fargo & Company upped their target price on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Citigroup raised their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, TD Cowen increased their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $71.80.

Coca-Cola Trading Down 0.2 %

NYSE:KO opened at $63.21 on Wednesday. The Coca-Cola Company has a 52 week low of $56.60 and a 52 week high of $73.53. The firm has a 50-day moving average price of $69.37 and a two-hundred day moving average price of $66.52. 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 firm has a market cap of $272.30 billion, a price-to-earnings ratio of 26.12, a price-to-earnings-growth ratio of 3.85 and a beta of 0.61.

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

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is 80.17%.

Insiders Place Their Bets

In other news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the transaction, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $21,933,220.38. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of Coca-Cola stock in a transaction dated 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 transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at $15,968,095. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the sale, the chief executive officer now owns 342,546 shares in the company, valued at approximately $21,933,220.38. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 303,748 shares of company stock valued at $20,677,431 over the last ninety days. 0.97% of the stock is currently owned by 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.