21,728 Shares in The Coca-Cola Company (NYSE:KO) Purchased by Luts & Greenleigh Group Inc.

Luts & Greenleigh Group Inc. acquired a new stake in The Coca-Cola Company (NYSE:KO) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 21,728 shares of the company’s stock, valued at approximately $1,383,000. Coca-Cola accounts for approximately 1.4% of Luts & Greenleigh Group Inc.’s investment portfolio, making the stock its 14th biggest position.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KO. Tidemark LLC acquired a new position in Coca-Cola during the fourth quarter worth $26,000. New Millennium Group LLC acquired a new position in shares of Coca-Cola during the 2nd quarter worth $26,000. Redmont Wealth Advisors LLC purchased a new position in shares of Coca-Cola in the 1st quarter valued at about $28,000. ESL Trust Services LLC acquired a new stake in shares of Coca-Cola in the first quarter valued at about $28,000. Finally, Frazier Financial Advisors LLC purchased a new stake in Coca-Cola during the fourth quarter worth about $31,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Ratings Changes

KO has been the subject of a number of research reports. JPMorgan Chase & Co. lifted 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. Cfra reiterated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Argus boosted their price target on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. Deutsche Bank Aktiengesellschaft increased their price objective on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Finally, Bank of America raised their price target on shares of Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $71.07.

Insider Activity

In related news, major shareholder Cola Co Coca sold 598,619 shares of the business’s stock in a transaction dated 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 owns 1,883,546 shares in the company, valued at $1,742,280,050. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Coca-Cola news, major shareholder Cola Co Coca sold 598,619 shares of the firm’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the completion of 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 SEC, which is available through this hyperlink. Also, EVP Nancy Quan sold 18,482 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $68.95, for a total value of $1,274,333.90. Following the completion of the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $15,398,603.50. The disclosure for this sale can be found here. Insiders sold 974,715 shares of company stock worth $579,704,927 over the last ninety days. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

Shares of NYSE:KO opened at $72.10 on Tuesday. The business has a 50-day moving average of $68.47 and a two-hundred day moving average of $64.04. The firm has a market capitalization of $310.60 billion, a PE ratio of 28.84, a P/E/G ratio of 3.93 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 12 month low of $51.55 and a 12 month high of $73.53.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. The company had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.78 earnings per share. As a group, research analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current 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 given a $0.485 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a yield of 2.69%. Coca-Cola’s payout ratio is currently 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.