The Coca-Cola Company (NYSE:KO) Shares Sold by Northeast Financial Consultants Inc

Northeast Financial Consultants Inc reduced its position in shares of The Coca-Cola Company (NYSE:KO) by 12.6% in the second quarter, HoldingsChannel.com reports. The firm owned 34,463 shares of the company’s stock after selling 4,954 shares during the period. Northeast Financial Consultants Inc’s holdings in Coca-Cola were worth $2,194,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of KO. New Millennium Group LLC bought a new stake in shares of Coca-Cola in the 2nd quarter worth approximately $26,000. Redmont Wealth Advisors LLC bought a new position in shares of Coca-Cola in the first quarter valued at $28,000. ESL Trust Services LLC acquired a new stake in shares of Coca-Cola during the 1st quarter valued at $28,000. DiNuzzo Private Wealth Inc. boosted its stake in shares of Coca-Cola by 65.0% during the 1st quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock worth $32,000 after acquiring an additional 206 shares in the last quarter. Finally, Mount Lucas Management LP acquired a new position in shares of Coca-Cola in the 2nd quarter worth $38,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Trading Up 0.5 %

NYSE KO opened at $71.79 on Friday. 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 Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $73.53. The firm’s fifty day simple moving average is $69.82 and its 200-day simple moving average is $64.75. The company has a market capitalization of $309.27 billion, a PE ratio of 28.72, a price-to-earnings-growth ratio of 3.97 and a beta of 0.60.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 43.62% and a net margin of 22.92%. The business’s revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.78 EPS. As a group, sell-side analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date is Friday, September 13th. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on KO shares. BNP Paribas assumed coverage on Coca-Cola in a report on Monday, June 24th. They set an “outperform” rating and a $72.00 target price for the company. JPMorgan Chase & Co. upped their price objective on shares of 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 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. Barclays upped their price target on shares of Coca-Cola from $69.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Finally, Wells Fargo & Company lifted their price objective on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.07.

Insiders Place Their Bets

In other news, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $15,968,095. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Coca-Cola news, EVP Lisa Chang sold 58,122 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $68.51, for a total transaction of $3,981,938.22. Following the completion of the sale, the executive vice president now owns 74,067 shares of the company’s stock, valued at $5,074,330.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nancy Quan sold 18,484 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $15,968,095. The disclosure for this sale can be found here. Insiders sold 974,715 shares of company stock valued at $579,704,927 over the last ninety days. Corporate insiders own 0.97% of the company’s stock.

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.