The Coca-Cola Company (NYSE:KO) Shares Sold by Northeast Financial Consultants Inc

Northeast Financial Consultants Inc lessened its stake in shares of The Coca-Cola Company (NYSE:KO) by 12.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,463 shares of the company’s stock after selling 4,954 shares during the quarter. Northeast Financial Consultants Inc’s holdings in Coca-Cola were worth $2,194,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Silver Lake Advisory LLC raised its holdings in shares of Coca-Cola by 0.7% during the 2nd quarter. Silver Lake Advisory LLC now owns 26,585 shares of the company’s stock valued at $1,692,000 after buying an additional 195 shares during the period. Magnolia Capital Advisors LLC purchased a new stake in shares of Coca-Cola during the second quarter valued at approximately $1,837,000. Creative Planning lifted its position in shares of Coca-Cola by 3.8% during the second quarter. Creative Planning now owns 1,781,928 shares of the company’s stock worth $113,420,000 after purchasing an additional 65,533 shares in the last quarter. Bontempo Ohly Capital Mgmt LLC boosted its stake in shares of Coca-Cola by 1.4% in the second quarter. Bontempo Ohly Capital Mgmt LLC now owns 67,878 shares of the company’s stock valued at $4,320,000 after purchasing an additional 930 shares during the period. Finally, Kathmere Capital Management LLC grew its holdings in Coca-Cola by 13.9% during the 2nd quarter. Kathmere Capital Management LLC now owns 5,605 shares of the company’s stock valued at $357,000 after purchasing an additional 683 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

KO has been the topic of a number of recent analyst reports. Morgan Stanley boosted their price objective on shares of Coca-Cola from $70.00 to $78.00 and gave the stock an “overweight” rating in a report on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft increased their price target on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Cfra restated a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. StockNews.com cut Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Finally, BNP Paribas started coverage on shares of Coca-Cola in a research note on Monday, June 24th. They issued an “outperform” rating and a $72.00 price target for the company. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and an average price target of $71.07.

Coca-Cola Price Performance

Shares of NYSE:KO opened at $71.79 on Friday. 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 firm has a 50-day simple moving average of $69.82 and a 200 day simple moving average of $64.75. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $73.53. The company has a market cap of $309.27 billion, a PE ratio of 28.72, a P/E/G ratio of 3.97 and a beta of 0.60.

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

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders 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 2.70%. The ex-dividend date is Friday, September 13th. Coca-Cola’s dividend payout ratio (DPR) is 77.60%.

Insider Transactions at Coca-Cola

In related news, EVP Nancy Quan sold 18,484 shares of Coca-Cola stock in a transaction dated 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 sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,968,095. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Nancy Quan sold 18,484 shares of the 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola stock in a transaction on Friday, July 5th. The shares were sold at an average price of $925.00, for a total value of $553,722,575.00. Following the sale, the insider now directly owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The disclosure for this sale can be found here. Over the last quarter, insiders sold 974,715 shares of company stock worth $579,704,927. Insiders own 0.97% of the company’s stock.

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.