Total Clarity Wealth Management Inc. Reduces Stock Holdings in The Coca-Cola Company (NYSE:KO)

Total Clarity Wealth Management Inc. lessened its holdings in shares of The Coca-Cola Company (NYSE:KO) by 5.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,422 shares of the company’s stock after selling 214 shares during the period. Total Clarity Wealth Management Inc.’s holdings in Coca-Cola were worth $218,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Tidemark LLC acquired a new position in shares of Coca-Cola in the 4th quarter valued at about $26,000. New Millennium Group LLC acquired a new position in Coca-Cola in the second quarter valued at approximately $26,000. Redmont Wealth Advisors LLC purchased a new stake in Coca-Cola in the 1st quarter worth approximately $28,000. ESL Trust Services LLC acquired a new stake in shares of Coca-Cola during the 1st quarter worth approximately $28,000. Finally, Frazier Financial Advisors LLC purchased a new position in shares of Coca-Cola during the 4th quarter valued at approximately $31,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Activity

In other Coca-Cola news, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola stock in a transaction dated 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 transaction, the insider now directly owns 1,883,546 shares of the company’s stock, valued at $1,742,280,050. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Cola Co Coca sold 598,619 shares of the 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 completion of the transaction, the insider now directly owns 1,883,546 shares in the company, valued at $1,742,280,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Nancy Quan sold 18,482 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $68.95, for a total value of $1,274,333.90. Following the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $15,398,603.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 974,715 shares of company stock valued at $579,704,927. 0.97% of the stock is currently owned by insiders.

Coca-Cola Stock Performance

KO opened at $72.10 on Tuesday. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The firm’s 50-day moving average price is $68.47 and its 200 day moving average price is $64.04. The Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $73.53. The firm has a market capitalization of $310.60 billion, a PE ratio of 28.84, a PEG 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 (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $11.78 billion. During the same period in the prior year, the business earned $0.78 earnings per share. The business’s revenue was up 3.3% compared to the same quarter last year. As a group, sell-side analysts expect that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The business 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. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.94 annualized dividend and a dividend yield of 2.69%. Coca-Cola’s dividend payout ratio is presently 77.60%.

Analyst Upgrades and Downgrades

KO has been the topic of several analyst reports. Argus raised their price target on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, May 22nd. JPMorgan Chase & Co. lifted their price target on Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. TD Cowen increased their price target on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Citigroup boosted their price objective on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, Wells Fargo & Company increased their target price on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday. 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.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $71.07.

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.