Mark Sheptoff Financial Planning LLC Sells 420 Shares of The Coca-Cola Company (NYSE:KO)

Mark Sheptoff Financial Planning LLC lowered its holdings in The Coca-Cola Company (NYSE:KO) by 1.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 28,506 shares of the company’s stock after selling 420 shares during the period. Coca-Cola accounts for 1.1% of Mark Sheptoff Financial Planning LLC’s portfolio, making the stock its 20th largest position. Mark Sheptoff Financial Planning LLC’s holdings in Coca-Cola were worth $2,048,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the business. New Millennium Group LLC bought a new position in Coca-Cola during the second quarter valued at about $26,000. Quarry LP bought a new position in Coca-Cola in the second quarter worth $27,000. Hara Capital LLC acquired a new stake in Coca-Cola during the third quarter worth $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in Coca-Cola in the 3rd quarter valued at $36,000. Finally, Mount Lucas Management LP acquired a new position in shares of Coca-Cola in the 2nd quarter valued at $38,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on KO. Cfra reissued a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Morgan Stanley lowered their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Barclays lowered their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Finally, Truist Financial lifted their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.36.

Insider Transactions at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the transaction, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.97% of the stock is owned by corporate insiders.

Coca-Cola Stock Performance

KO stock opened at $64.08 on Friday. The company has a 50 day moving average price of $67.07 and a 200 day moving average price of $66.58. The Coca-Cola Company has a fifty-two week low of $57.47 and a fifty-two week high of $73.53. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The stock has a market capitalization of $276.04 billion, a PE ratio of 26.48, a price-to-earnings-growth ratio of 3.89 and a beta of 0.61.

Coca-Cola (NYSE:KO) last released its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The company had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The firm’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.74 earnings per share. Analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 3.03%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

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.