The Coca-Cola Company (NYSE:KO) Shares Sold by Parthenon LLC

Parthenon LLC cut its stake in The Coca-Cola Company (NYSE:KO) by 4.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,173 shares of the company’s stock after selling 2,966 shares during the period. Parthenon LLC’s holdings in Coca-Cola were worth $4,212,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of KO. Tidemark LLC acquired a new position in shares of Coca-Cola during the fourth quarter valued at $26,000. New Millennium Group LLC bought a new position in Coca-Cola during the second quarter valued at about $26,000. Private Wealth Management Group LLC bought a new position in Coca-Cola during the fourth quarter valued at about $27,000. Redmont Wealth Advisors LLC bought a new position in Coca-Cola during the first quarter valued at about $28,000. Finally, ESL Trust Services LLC bought a new position in Coca-Cola during the first quarter valued at about $28,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Stock Up 0.2 %

KO opened at $71.23 on Friday. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $73.53. The business has a 50-day moving average of $68.13 and a 200-day moving average of $63.83. 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 company has a market capitalization of $306.99 billion, a PE ratio of 28.49, a price-to-earnings-growth ratio of 3.93 and a beta of 0.60.

Coca-Cola (NYSE:KO) last posted 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 company had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.78 billion. During the same period last year, the business earned $0.78 EPS. The business’s quarterly revenue was up 3.3% on a year-over-year basis. Equities research analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current fiscal 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 paid a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend is Friday, September 13th. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Insider Transactions at Coca-Cola

In related news, EVP Nancy Quan sold 19,304 shares of the firm’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 value of $1,253,987.84. Following the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $14,507,516.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, major shareholder Cola Co Coca sold 598,619 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $925.00, for a total value of $553,722,575.00. Following the transaction, the insider now directly owns 1,883,546 shares of the company’s stock, valued at approximately $1,742,280,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Nancy Quan sold 19,304 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $64.96, for a total value of $1,253,987.84. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at $14,507,516.80. The disclosure for this sale can be found here. Insiders sold 974,715 shares of company stock valued at $579,704,927 in the last three months. Corporate insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

KO has been the subject of several research reports. Bank of America raised their target price on Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Argus raised their target price on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. Barclays raised their target price on Coca-Cola from $69.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. increased their price target on Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Finally, Cfra reiterated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $70.73.

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.