Lantz Financial LLC Cuts Stock Position in The Coca-Cola Company (NYSE:KO)

Lantz Financial LLC decreased its holdings in shares of The Coca-Cola Company (NYSE:KO) by 30.6% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 7,936 shares of the company’s stock after selling 3,493 shares during the period. Lantz Financial LLC’s holdings in Coca-Cola were worth $478,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Moneta Group Investment Advisors LLC lifted its holdings in Coca-Cola by 103,297.9% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 57,734,303 shares of the company’s stock valued at $3,672,479,000 after acquiring an additional 57,678,466 shares during the period. Norges Bank acquired a new position in shares of Coca-Cola during the 4th quarter worth approximately $2,937,315,000. Morgan Stanley raised its stake in shares of Coca-Cola by 15.7% during the 4th quarter. Morgan Stanley now owns 79,101,856 shares of the company’s stock worth $5,031,669,000 after buying an additional 10,722,435 shares during the period. Gateway Advisory LLC raised its stake in shares of Coca-Cola by 26,580.3% during the 1st quarter. Gateway Advisory LLC now owns 4,330,750 shares of the company’s stock worth $4,331,000 after buying an additional 4,314,518 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Coca-Cola by 7.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 58,090,088 shares of the company’s stock worth $3,662,834,000 after buying an additional 4,147,833 shares during the period. Hedge funds and other institutional investors own 68.96% of the company’s stock.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, SVP Monica Howard Douglas sold 21,074 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $60.90, for a total transaction of $1,283,406.60. Following the sale, the senior vice president now owns 18,360 shares in the company, valued at $1,118,124. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Monica Howard Douglas sold 21,074 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $60.90, for a total transaction of $1,283,406.60. Following the completion of the transaction, the senior vice president now directly owns 18,360 shares of the company’s stock, valued at $1,118,124. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Beatriz R. Perez sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $62.66, for a total value of $3,133,000.00. Following the transaction, the senior vice president now directly owns 143,383 shares of the company’s stock, valued at $8,984,378.78. The disclosure for this sale can be found here. Insiders have sold 227,364 shares of company stock worth $14,122,016 over the last quarter. 1.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

KO has been the subject of several research reports. HSBC dropped their price target on Coca-Cola from $77.00 to $74.00 in a research report on Wednesday, June 7th. StockNews.com initiated coverage on Coca-Cola in a report on Thursday, August 17th. They set a “buy” rating for the company. Wedbush increased their target price on Coca-Cola from $70.00 to $71.00 and gave the stock an “outperform” rating in a research note on Thursday, July 27th. JPMorgan Chase & Co. increased their price target on Coca-Cola from $67.00 to $71.00 and gave the company an “overweight” rating in a research report on Thursday, July 27th. Finally, Royal Bank of Canada increased their price objective on Coca-Cola from $69.00 to $70.00 in a report on Thursday, July 27th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $68.33.

Coca-Cola Stock Down 0.4 %

Shares of NYSE:KO traded down $0.23 during trading on Tuesday, hitting $58.07. The company’s stock had a trading volume of 1,317,120 shares, compared to its average volume of 13,093,075. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.95 and a current ratio of 1.14. The Coca-Cola Company has a fifty-two week low of $54.01 and a fifty-two week high of $64.99. The stock’s 50-day moving average price is $60.49 and its two-hundred day moving average price is $61.25. The company has a market capitalization of $251.12 billion, a PE ratio of 23.99, a PEG ratio of 3.40 and a beta of 0.55.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Wednesday, July 26th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.72 by $0.06. Coca-Cola had a return on equity of 43.06% and a net margin of 23.81%. The business had revenue of $12 billion for the quarter, compared to analysts’ expectations of $11.74 billion. During the same quarter in the previous year, the firm posted $0.70 earnings per share. The company’s revenue was up 6.2% compared to the same quarter last year. As a group, sell-side analysts expect that The Coca-Cola Company will post 2.63 EPS for the current year.

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 3.17%. The ex-dividend date is Thursday, September 14th. Coca-Cola’s payout ratio is currently 75.72%.

Coca-Cola 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.