Clearstead Trust LLC Sells 573 Shares of The Coca-Cola Company (NYSE:KO)

Clearstead Trust LLC reduced its position in The Coca-Cola Company (NYSE:KO) by 4.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,425 shares of the company’s stock after selling 573 shares during the period. Clearstead Trust LLC’s holdings in Coca-Cola were worth $855,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Gilbert & Cook Inc. raised its position in shares of Coca-Cola by 5.6% in the 4th quarter. Gilbert & Cook Inc. now owns 15,971 shares of the company’s stock valued at $941,000 after purchasing an additional 841 shares during the last quarter. Accretive Wealth Partners LLC raised its position in shares of Coca-Cola by 1.4% in the 4th quarter. Accretive Wealth Partners LLC now owns 25,843 shares of the company’s stock valued at $1,523,000 after purchasing an additional 351 shares during the last quarter. Aveo Capital Partners LLC raised its position in shares of Coca-Cola by 13.9% in the 4th quarter. Aveo Capital Partners LLC now owns 9,709 shares of the company’s stock valued at $572,000 after purchasing an additional 1,182 shares during the last quarter. Gryphon Financial Partners LLC raised its position in shares of Coca-Cola by 72.0% in the 4th quarter. Gryphon Financial Partners LLC now owns 17,973 shares of the company’s stock valued at $1,034,000 after purchasing an additional 7,521 shares during the last quarter. Finally, Hillsdale Investment Management Inc. raised its position in shares of Coca-Cola by 10.5% in the 4th quarter. Hillsdale Investment Management Inc. now owns 8,604 shares of the company’s stock valued at $507,000 after purchasing an additional 820 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Bruno Pietracci sold 38,653 shares of the business’s stock in a transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Bruno Pietracci sold 38,653 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total transaction of $2,667,443.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nancy Quan sold 19,304 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $64.96, for a total transaction of $1,253,987.84. Following the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $14,507,516.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 974,715 shares of company stock valued at $579,704,927. 0.97% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

KO has been the subject of several research analyst reports. Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. StockNews.com lowered shares of Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. Argus lifted their price objective on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. Finally, Truist Financial lifted their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Coca-Cola has an average rating of “Moderate Buy” and an average target price of $71.07.

Coca-Cola Stock Performance

KO opened at $72.10 on Tuesday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The firm has a fifty day moving average price of $68.47 and a 200 day moving average price of $64.04. The Coca-Cola Company has a 1 year low of $51.55 and a 1 year high of $73.53. The stock has a market cap of $310.60 billion, a P/E ratio of 28.84, a P/E/G ratio of 3.93 and a beta of 0.60.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.03. The firm had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The business’s revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.78 EPS. Equities research analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 2.69%. The ex-dividend date is Friday, September 13th. Coca-Cola’s payout ratio is presently 77.60%.

About Coca-Cola

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.