Consolidated Planning Corp Boosts Stake in The Coca-Cola Company (NYSE:KO)

Consolidated Planning Corp raised its position in The Coca-Cola Company (NYSE:KO) by 1.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,843 shares of the company’s stock after purchasing an additional 452 shares during the quarter. Consolidated Planning Corp’s holdings in Coca-Cola were worth $2,216,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of KO. Harvest Portfolios Group Inc. purchased a new position in shares of Coca-Cola in the third quarter valued at approximately $18,383,000. Balentine LLC lifted its holdings in Coca-Cola by 92.4% during the 3rd quarter. Balentine LLC now owns 28,493 shares of the company’s stock worth $2,048,000 after buying an additional 13,685 shares in the last quarter. State of Alaska Department of Revenue boosted its position in Coca-Cola by 4.8% in the 3rd quarter. State of Alaska Department of Revenue now owns 457,782 shares of the company’s stock valued at $32,895,000 after buying an additional 21,005 shares during the period. Swedbank AB acquired a new position in shares of Coca-Cola in the first quarter worth $102,604,000. Finally, BDF Gestion purchased a new stake in shares of Coca-Cola during the second quarter worth $7,421,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Stock Performance

Shares of KO opened at $63.66 on Friday. The company has a market capitalization of $274.23 billion, a PE ratio of 26.31, a P/E/G ratio of 3.96 and a beta of 0.61. The Coca-Cola Company has a 52-week low of $56.06 and a 52-week high of $73.53. The company has a 50-day simple moving average of $69.90 and a 200-day simple moving average of $66.43. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. The company had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The company’s revenue for the quarter was down .8% on a year-over-year basis. During the same period last year, the firm earned $0.74 EPS. Equities research analysts predict 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 announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is 80.17%.

Analysts Set New Price Targets

KO has been the topic of several recent research reports. Royal Bank of Canada upped their price target on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Truist Financial upped their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Morgan Stanley reduced their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. StockNews.com cut Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Finally, Cfra restated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Five equities 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $71.80.

Insider Activity

In related news, CEO James Quincey sold 102,533 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total value of $7,179,360.66. Following the sale, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Lisa Chang sold 40,334 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $69.54, for a total transaction of $2,804,826.36. Following the sale, the executive vice president now owns 74,067 shares of the company’s stock, valued at $5,150,619.18. 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 at the SEC website. Also, CEO James Quincey sold 102,533 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the transaction, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at $30,987,070.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 203,748 shares of company stock worth $14,274,431 over the last 90 days. 0.97% of the stock is currently 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.