Morningstar Investment Services LLC Cuts Position in Coca-Cola Co (The) (NYSE:KO)

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Morningstar Investment Services LLC lowered its position in Coca-Cola Co (The) (NYSE:KO) by 3.3% in the second quarter, Holdings Channel reports. The fund owned 553,114 shares of the company’s stock after selling 19,055 shares during the period. Morningstar Investment Services LLC’s holdings in Coca-Cola were worth $24,536,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Costello Asset Management INC purchased a new position in Coca-Cola in the second quarter valued at approximately $25,000. PrairieView Partners LLC purchased a new stake in Coca-Cola in the first quarter valued at $27,000. Evolution Wealth Advisors LLC boosted its stake in Coca-Cola by 112.5% in the second quarter. Evolution Wealth Advisors LLC now owns 627 shares of the company’s stock valued at $28,000 after acquiring an additional 332 shares in the last quarter. Pearl River Capital LLC purchased a new position in shares of Coca-Cola during the first quarter worth about $30,000. Finally, Stonebridge Financial Planning Group LLC increased its position in shares of Coca-Cola by 43.5% during the first quarter. Stonebridge Financial Planning Group LLC now owns 990 shares of the company’s stock worth $47,000 after purchasing an additional 300 shares in the last quarter. Institutional investors own 67.40% of the company’s stock.

Shares of Coca-Cola stock traded down $0.45 during trading on Friday, reaching $47.24. The company’s stock had a trading volume of 14,850,566 shares, compared to its average volume of 16,251,326. The business has a 50 day moving average price of $45.98 and a 200-day moving average price of $49.34. Coca-Cola Co has a 12-month low of $36.27 and a 12-month high of $60.13. The company has a market capitalization of $202.92 billion, a P/E ratio of 22.28, a price-to-earnings-growth ratio of 5.51 and a beta of 0.54. The company has a quick ratio of 0.96, a current ratio of 1.09 and a debt-to-equity ratio of 1.97.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, July 21st. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. Coca-Cola had a return on equity of 41.44% and a net margin of 26.77%. The company had revenue of $7.20 billion during the quarter, compared to the consensus estimate of $7.26 billion. During the same quarter last year, the company earned $0.63 earnings per share. Coca-Cola’s quarterly revenue was down 28.0% compared to the same quarter last year. Research analysts predict that Coca-Cola Co will post 1.8 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date is Monday, September 14th. Coca-Cola’s dividend payout ratio is currently 77.73%.

In other news, Director David B. Weinberg sold 200,000 shares of the firm’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $48.02, for a total value of $9,604,000.00. Following the completion of the transaction, the director now owns 355,214 shares in the company, valued at $17,057,376.28. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director David B. Weinberg sold 98,905 shares of Coca-Cola stock in a transaction on Monday, July 27th. The stock was sold at an average price of $48.50, for a total value of $4,796,892.50. Following the transaction, the director now directly owns 355,214 shares of the company’s stock, valued at approximately $17,227,879. The disclosure for this sale can be found here. Insiders have sold 698,905 shares of company stock worth $33,768,893 over the last 90 days. 1.01% of the stock is currently owned by company insiders.

KO has been the topic of a number of research reports. Zacks Investment Research downgraded Coca-Cola from a “hold” rating to a “sell” rating and set a $49.00 price target on the stock. in a research note on Wednesday, May 27th. Jefferies Financial Group lowered their target price on shares of Coca-Cola from $48.00 to $47.00 and set a “hold” rating on the stock in a research report on Wednesday, April 22nd. Cfra cut their target price on shares of Coca-Cola from $60.00 to $55.00 and set a “strong-buy” rating on the stock in a report on Tuesday, April 21st. Citigroup decreased their price target on shares of Coca-Cola from $63.00 to $51.00 and set a “neutral” rating for the company in a research note on Wednesday, April 22nd. Finally, Barclays restated a “buy” rating and issued a $50.00 price objective on shares of Coca-Cola in a research note on Thursday, April 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $54.05.

Coca-Cola Profile

The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plant-based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

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Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

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