Summit Wealth Partners LLC Sells 274 Shares of The Coca-Cola Company (NYSE:KO)

Summit Wealth Partners LLC trimmed its holdings in shares of The Coca-Cola Company (NYSE:KO) by 7.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,331 shares of the company’s stock after selling 274 shares during the quarter. Summit Wealth Partners LLC’s holdings in Coca-Cola were worth $239,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. State of Alaska Department of Revenue lifted its position in shares of Coca-Cola by 4.8% during the third quarter. State of Alaska Department of Revenue now owns 457,782 shares of the company’s stock worth $32,895,000 after purchasing an additional 21,005 shares during the last quarter. Swedbank AB bought a new stake in shares of Coca-Cola during the first quarter worth $102,604,000. BDF Gestion bought a new stake in shares of Coca-Cola in the second quarter valued at about $7,421,000. Nisa Investment Advisors LLC raised its holdings in shares of Coca-Cola by 10.3% in the third quarter. Nisa Investment Advisors LLC now owns 1,149,209 shares of the company’s stock valued at $83,151,000 after acquiring an additional 107,374 shares in the last quarter. Finally, Duality Advisers LP raised its holdings in shares of Coca-Cola by 191.1% in the first quarter. Duality Advisers LP now owns 111,851 shares of the company’s stock valued at $6,843,000 after acquiring an additional 73,434 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Insider Activity at Coca-Cola

In related news, EVP Lisa Chang sold 58,122 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $68.51, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Lisa Chang sold 58,122 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $68.51, for a total value of $3,981,938.22. Following the completion of the transaction, the executive vice president now directly owns 74,067 shares of the company’s stock, valued at $5,074,330.17. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 261,870 shares of company stock worth $18,256,369 over the last quarter. Insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Royal Bank of Canada lifted their price objective on Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lifted their price objective on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Barclays decreased their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Citigroup lifted their price objective on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Bank of America lifted their price objective on Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $71.80.

Coca-Cola Price Performance

Shares of KO stock opened at $65.00 on Friday. The Coca-Cola Company has a fifty-two week low of $56.06 and a fifty-two week high of $73.53. The firm has a market capitalization of $280.01 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 4.00 and a beta of 0.60. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The stock’s 50-day simple moving average is $70.29 and its 200-day simple moving average is $66.26.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The business had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. During the same quarter in the previous year, the firm earned $0.74 earnings per share. The company’s revenue was down .8% on a year-over-year basis. As a group, equities analysts forecast 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. Investors of record on Friday, November 29th will be given a $0.485 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a yield of 2.98%. Coca-Cola’s dividend payout ratio is currently 80.17%.

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.