Thrivent Financial for Lutherans Cuts Stock Position in The Coca-Cola Company (NYSE:KO)

Thrivent Financial for Lutherans lowered its stake in The Coca-Cola Company (NYSE:KO) by 40.8% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 566,690 shares of the company’s stock after selling 390,535 shares during the period. Thrivent Financial for Lutherans’ holdings in Coca-Cola were worth $36,070,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Focus Financial Network Inc. ADV bought a new position in shares of Coca-Cola during the 4th quarter valued at $3,255,000. Swedbank AB purchased a new stake in Coca-Cola in the 1st quarter worth $102,604,000. Angeles Investment Advisors LLC increased its stake in Coca-Cola by 2.4% in the 4th quarter. Angeles Investment Advisors LLC now owns 15,812 shares of the company’s stock worth $932,000 after buying an additional 374 shares in the last quarter. Wealth Quarterback LLC increased its stake in Coca-Cola by 3.2% in the 4th quarter. Wealth Quarterback LLC now owns 17,454 shares of the company’s stock worth $1,029,000 after buying an additional 537 shares in the last quarter. Finally, BDF Gestion purchased a new stake in Coca-Cola in the 2nd quarter worth $7,421,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Trading Up 1.4 %

Shares of NYSE KO opened at $71.64 on Monday. The business’s 50 day moving average is $69.13 and its two-hundred day moving average is $64.37. 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 1-year low of $51.55 and a 1-year high of $73.53. The stock has a market capitalization of $308.62 billion, a P/E ratio of 28.66, a PEG ratio of 3.93 and a beta of 0.60.

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

Coca-Cola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.94 annualized dividend and a dividend yield of 2.71%. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Barclays increased their price target on Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Bank of America lifted their target price on Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. BNP Paribas began coverage on Coca-Cola in a report on Monday, June 24th. They issued an “outperform” rating and a $72.00 target price on the stock. Royal Bank of Canada lifted their target price on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Finally, StockNews.com cut Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and an average price target of $71.07.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 19,304 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at $14,507,516.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Coca-Cola news, EVP Nancy Quan sold 19,304 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at $14,507,516.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bruno Pietracci sold 38,653 shares of the business’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders sold 974,715 shares of company stock worth $579,704,927 over the last 90 days. Company 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.