Marathon Capital Management Sells 750 Shares of The Coca-Cola Company (NYSE:KO)

Marathon Capital Management lowered its stake in shares of The Coca-Cola Company (NYSE:KO) by 4.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,520 shares of the company’s stock after selling 750 shares during the period. Marathon Capital Management’s holdings in Coca-Cola were worth $1,115,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in KO. New Millennium Group LLC bought a new position in Coca-Cola in the second quarter valued at $26,000. Redmont Wealth Advisors LLC bought a new position in shares of Coca-Cola during the first quarter valued at about $28,000. ESL Trust Services LLC bought a new stake in shares of Coca-Cola in the first quarter worth about $28,000. DiNuzzo Private Wealth Inc. grew its stake in shares of Coca-Cola by 65.0% in the first quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock worth $32,000 after purchasing an additional 206 shares during the last quarter. Finally, Mount Lucas Management LP bought a new stake in shares of Coca-Cola in the second quarter worth about $38,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Barclays lifted their target price on shares of Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Morgan Stanley lifted their target price on shares of Coca-Cola from $70.00 to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 27th. Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Finally, TD Cowen lifted their target price on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Coca-Cola currently has a consensus rating of “Moderate Buy” and an average price target of $71.07.

Insiders Place Their Bets

In other Coca-Cola news, insider Bruno Pietracci sold 38,653 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total value of $2,667,443.53. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Nancy Quan sold 19,304 shares of the company’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $64.96, for a total transaction of $1,253,987.84. Following the sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $14,507,516.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bruno Pietracci sold 38,653 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $69.01, for a total transaction of $2,667,443.53. The disclosure for this sale can be found here. Insiders have sold a total of 974,715 shares of company stock worth $579,704,927 in the last 90 days. 0.97% of the stock is currently owned by corporate insiders.

Coca-Cola Stock Down 0.1 %

KO opened at $71.37 on Friday. The stock has a market cap of $307.46 billion, a price-to-earnings ratio of 28.55, a price-to-earnings-growth ratio of 3.97 and a beta of 0.60. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $73.53. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08. The firm’s fifty day moving average is $69.69 and its 200 day moving average is $64.64.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.81 by $0.03. The business had revenue of $12.40 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.78 EPS. On average, sell-side analysts forecast that The Coca-Cola Company will post 2.85 earnings per share 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. Shareholders of record on Friday, September 13th will be paid a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 2.72%. The ex-dividend date is Friday, September 13th. Coca-Cola’s payout ratio is currently 77.60%.

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.