The Coca-Cola Company (NYSE:KO) Stock Position Cut by Planning Capital Management Corp

Planning Capital Management Corp lessened its holdings in shares of The Coca-Cola Company (NYSE:KO) by 3.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 65,749 shares of the company’s stock after selling 2,218 shares during the quarter. Coca-Cola comprises about 3.1% of Planning Capital Management Corp’s holdings, making the stock its 8th biggest holding. Planning Capital Management Corp’s holdings in Coca-Cola were worth $4,725,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in KO. New Millennium Group LLC acquired a new stake in Coca-Cola during the 2nd quarter worth approximately $26,000. Quarry LP acquired a new stake in shares of Coca-Cola in the second quarter valued at $27,000. ESL Trust Services LLC purchased a new position in Coca-Cola in the first quarter valued at $28,000. Hara Capital LLC acquired a new position in Coca-Cola during the 3rd quarter worth $35,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in Coca-Cola during the 3rd quarter worth about $36,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Performance

KO opened at $63.02 on Thursday. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The stock has a market cap of $271.48 billion, a P/E ratio of 26.04, a P/E/G ratio of 3.84 and a beta of 0.61. The Coca-Cola Company has a 1-year low of $56.70 and a 1-year high of $73.53. The stock’s 50 day simple moving average is $68.99 and its 200 day simple moving average is $66.51.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 44.01% and a net margin of 22.45%. Coca-Cola’s revenue was down .8% compared to the same quarter last year. During the same quarter last year, the business posted $0.74 earnings per share. As a group, equities analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio is presently 80.17%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on KO. TD Cowen lifted their price objective on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Citigroup lifted their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Barclays dropped their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Wells Fargo & Company lifted their price objective on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Finally, Cfra reiterated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $72.36.

Insiders Place Their Bets

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at $21,933,220.38. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the sale, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Nancy Quan sold 18,484 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the sale, the executive vice president now directly owns 223,330 shares in the company, valued at $15,968,095. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 303,748 shares of company stock worth $20,677,431 in the last 90 days. 0.97% of the stock is owned by company insiders.

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.