Capasso Planning Partners LLC trimmed its position in The Coca-Cola Company (NYSE:KO – Free Report) by 20.6% during the second quarter, HoldingsChannel.com reports. The fund owned 8,975 shares of the company’s stock after selling 2,335 shares during the quarter. Capasso Planning Partners LLC’s holdings in Coca-Cola were worth $540,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the company. Venturi Wealth Management LLC acquired a new position in Coca-Cola during the 1st quarter worth approximately $25,000. Freedom Wealth Alliance LLC acquired a new stake in Coca-Cola in the fourth quarter valued at approximately $25,000. Paladin Advisory Group LLC bought a new stake in shares of Coca-Cola during the second quarter worth $28,000. Fortis Capital Advisors LLC acquired a new position in shares of Coca-Cola during the fourth quarter worth $30,000. Finally, KB Financial Partners LLC bought a new position in shares of Coca-Cola in the 1st quarter valued at $31,000. 68.96% of the stock is owned by institutional investors.
Analyst Ratings Changes
KO has been the topic of a number of research reports. Jefferies Financial Group began coverage on Coca-Cola in a research report on Monday, November 13th. They set a “hold” rating and a $64.00 price objective on the stock. JPMorgan Chase & Co. upped their price objective on Coca-Cola from $59.00 to $62.00 and gave the company an “overweight” rating in a research note on Wednesday, October 25th. Citigroup dropped their price objective on shares of Coca-Cola from $74.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, October 11th. Royal Bank of Canada boosted their target price on shares of Coca-Cola from $69.00 to $70.00 in a report on Thursday, July 27th. Finally, Barclays dropped their price target on shares of Coca-Cola from $70.00 to $59.00 and set an “overweight” rating for the company in a research note on Thursday, October 12th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.20.
Insider Transactions at Coca-Cola
In other Coca-Cola news, SVP Beatriz R. Perez sold 20,534 shares of Coca-Cola stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $56.12, for a total value of $1,152,368.08. Following the completion of the sale, the senior vice president now directly owns 143,383 shares of the company’s stock, valued at $8,046,653.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO James Quincey sold 92,029 shares of the stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $58.09, for a total value of $5,345,964.61. Following the completion of the sale, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at $25,707,497.14. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Beatriz R. Perez sold 20,534 shares of the stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $56.12, for a total value of $1,152,368.08. Following the completion of the sale, the senior vice president now directly owns 143,383 shares of the company’s stock, valued at $8,046,653.96. The disclosure for this sale can be found here. Insiders sold a total of 349,316 shares of company stock valued at $19,716,506 in the last quarter. 1.00% of the stock is currently owned by company insiders.
Coca-Cola Trading Up 0.5 %
NYSE KO traded up $0.28 during mid-day trading on Tuesday, reaching $57.68. 3,367,419 shares of the stock were exchanged, compared to its average volume of 13,544,019. The stock has a market cap of $249.37 billion, a P/E ratio of 23.18, a P/E/G ratio of 3.46 and a beta of 0.59. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.14 and a quick ratio of 0.97. The Coca-Cola Company has a one year low of $51.55 and a one year high of $64.99. The stock has a 50 day simple moving average of $55.99 and a 200-day simple moving average of $59.26.
Coca-Cola (NYSE:KO – Get Free Report) last posted its quarterly earnings data on Tuesday, October 24th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.05. Coca-Cola had a return on equity of 42.44% and a net margin of 23.92%. The firm had revenue of $11.95 billion during the quarter, compared to analyst estimates of $11.45 billion. On average, analysts anticipate that The Coca-Cola Company will post 2.68 EPS for the current year.
Coca-Cola Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date is Thursday, November 30th. Coca-Cola’s payout ratio is 73.90%.
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.
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