Luts & Greenleigh Group Inc. Makes New $1.38 Million Investment in The Coca-Cola Company (NYSE:KO)

Luts & Greenleigh Group Inc. bought a new stake in The Coca-Cola Company (NYSE:KO) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 21,728 shares of the company’s stock, valued at approximately $1,383,000. Coca-Cola makes up 1.4% of Luts & Greenleigh Group Inc.’s portfolio, making the stock its 14th biggest holding.

A number of other institutional investors have also recently made changes to their positions in KO. Tidemark LLC acquired a new stake in Coca-Cola during the 4th quarter worth $26,000. New Millennium Group LLC acquired a new stake in Coca-Cola in the 2nd quarter valued at about $26,000. Redmont Wealth Advisors LLC purchased a new position in Coca-Cola in the 1st quarter worth approximately $28,000. ESL Trust Services LLC acquired a new stake in shares of Coca-Cola in the first quarter valued at approximately $28,000. Finally, Frazier Financial Advisors LLC purchased a new position in Coca-Cola during the fourth quarter worth approximately $31,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Stock Performance

Shares of KO opened at $72.10 on Tuesday. The company has a market capitalization of $310.60 billion, a price-to-earnings ratio of 28.84, a price-to-earnings-growth ratio of 3.93 and a beta of 0.60. The Coca-Cola Company has a 52-week low of $51.55 and a 52-week high of $73.53. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The stock has a 50 day moving average price of $68.47 and a 200 day moving average price of $64.04.

Coca-Cola (NYSE:KO) last issued 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 business 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 company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.78 EPS. Research analysts predict that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on KO shares. JPMorgan Chase & Co. boosted their price target on shares of Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. BNP Paribas started coverage on Coca-Cola in a research note on Monday, June 24th. They issued an “outperform” rating and a $72.00 price target on the stock. Wells Fargo & Company raised their price objective on Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday. Morgan Stanley lifted their price target on shares of Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a research report on Tuesday, August 27th. Finally, TD Cowen increased their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average price target of $71.07.

Insider Transactions at Coca-Cola

In related news, EVP Nancy Quan sold 18,484 shares of the firm’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 transaction of $1,321,606.00. Following the transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $15,968,095. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of Coca-Cola stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at $15,968,095. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO James Quincey sold 42,397 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $70.02, for a total value of $2,968,637.94. Following the transaction, the chief executive officer now directly owns 442,546 shares in the company, valued at approximately $30,987,070.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 974,715 shares of company stock worth $579,704,927. Corporate insiders own 0.97% of the company’s stock.

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.