Park Avenue Securities LLC Sells 5,279 Shares of The Coca-Cola Company (NYSE:KO)

Park Avenue Securities LLC decreased its position in shares of The Coca-Cola Company (NYSE:KO) by 6.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 73,109 shares of the company’s stock after selling 5,279 shares during the period. Park Avenue Securities LLC’s holdings in Coca-Cola were worth $5,254,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. New Millennium Group LLC acquired a new stake in Coca-Cola during the second quarter worth approximately $26,000. Quarry LP bought a new position in shares of Coca-Cola in the second quarter worth $27,000. Redmont Wealth Advisors LLC acquired a new position in Coca-Cola in the first quarter valued at about $28,000. ESL Trust Services LLC bought a new stake in Coca-Cola during the first quarter worth about $28,000. Finally, DiNuzzo Private Wealth Inc. grew its stake in Coca-Cola by 65.0% during the first quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock worth $32,000 after buying an additional 206 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on KO. Barclays boosted their target price on shares of Coca-Cola from $69.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Bank of America upped their target price on Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Wells Fargo & Company lifted their price target on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. TD Cowen upped their price objective on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Finally, JPMorgan Chase & Co. lifted their target price on Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.07.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, insider Bruno Pietracci sold 38,653 shares of Coca-Cola stock in a transaction that occurred 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Bruno Pietracci sold 38,653 shares of the 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 transaction of $1,321,606.00. Following the completion of the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $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. Over the last quarter, insiders have sold 376,096 shares of company stock valued at $25,982,352. 0.97% of the stock is currently owned by insiders.

Coca-Cola Trading Down 0.5 %

Shares of Coca-Cola stock traded down $0.35 during trading on Friday, hitting $70.17. The company’s stock had a trading volume of 12,687,289 shares, compared to its average volume of 13,277,112. The stock has a market cap of $302.29 billion, a price-to-earnings ratio of 28.07, a price-to-earnings-growth ratio of 3.97 and a beta of 0.60. 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 Coca-Cola Company has a 52 week low of $51.55 and a 52 week high of $73.53. The stock has a 50-day moving average price of $70.35 and a two-hundred day moving average price of $65.09.

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

Coca-Cola Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were issued a $0.485 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.94 annualized dividend and a yield of 2.76%. Coca-Cola’s payout ratio is 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.