Financial Partners Group LLC Cuts Position in The Coca-Cola Company (NYSE:KO)

Financial Partners Group LLC reduced its position in The Coca-Cola Company (NYSE:KO) by 4.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,506 shares of the company’s stock after selling 488 shares during the quarter. Financial Partners Group LLC’s holdings in Coca-Cola were worth $827,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of KO. New Millennium Group LLC purchased a new stake in Coca-Cola during the second quarter valued at about $26,000. Quarry LP bought a new position in Coca-Cola during the 2nd quarter worth approximately $27,000. Redmont Wealth Advisors LLC bought a new position in Coca-Cola during the 1st quarter worth approximately $28,000. ESL Trust Services LLC purchased a new position in Coca-Cola in the 1st quarter worth approximately $28,000. Finally, DiNuzzo Private Wealth Inc. lifted its position in Coca-Cola by 65.0% in the first quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock valued at $32,000 after purchasing an additional 206 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

KO has been the topic of several analyst reports. Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. StockNews.com downgraded shares of Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. TD Cowen raised their target price on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft upped their price target on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada lifted their price objective on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. 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 company. According to data from MarketBeat.com, Coca-Cola presently has an average rating of “Moderate Buy” and an average target price of $71.87.

Coca-Cola Stock Performance

Shares of Coca-Cola stock opened at $67.30 on Friday. The Coca-Cola Company has a 12 month low of $55.10 and a 12 month high of $73.53. The firm has a market capitalization of $289.93 billion, a P/E ratio of 26.92, a P/E/G ratio of 3.92 and a beta of 0.60. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The business has a fifty day simple moving average of $70.74 and a two-hundred day simple moving average of $65.96.

Coca-Cola (NYSE:KO) last issued 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 analysts’ expectations of $11.61 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. Coca-Cola’s revenue was down .8% on a year-over-year basis. During the same period last year, the company posted $0.74 EPS. On average, equities analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $0.485 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 annualized dividend and a dividend yield of 2.88%. Coca-Cola’s payout ratio is currently 77.60%.

Insider Activity at Coca-Cola

In other Coca-Cola news, insider Bruno Pietracci sold 38,653 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $69.01, for a total value of $2,667,443.53. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Lisa Chang sold 58,122 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $68.51, for a total transaction of $3,981,938.22. Following the sale, the executive vice president now owns 74,067 shares in the company, valued at $5,074,330.17. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Bruno Pietracci sold 38,653 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total value of $2,667,443.53. The disclosure for this sale can be found here. Insiders sold a total of 319,005 shares of company stock valued at $22,198,147 in the last 90 days. Corporate insiders own 0.97% of the company’s stock.

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.