Morgan Dempsey Capital Management LLC Cuts Holdings in The Coca-Cola Company (NYSE:KO)

Morgan Dempsey Capital Management LLC lessened its stake in The Coca-Cola Company (NYSE:KO) by 2.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 143,154 shares of the company’s stock after selling 4,230 shares during the period. Coca-Cola accounts for 3.0% of Morgan Dempsey Capital Management LLC’s portfolio, making the stock its 10th biggest holding. Morgan Dempsey Capital Management LLC’s holdings in Coca-Cola were worth $9,112,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tidemark LLC acquired a new stake in shares of Coca-Cola in the fourth quarter valued at $26,000. New Millennium Group LLC acquired a new position in shares of Coca-Cola in the 2nd quarter worth $26,000. Private Wealth Management Group LLC acquired a new stake in shares of Coca-Cola during the fourth quarter worth $27,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Coca-Cola during the first quarter valued at $28,000. Finally, ESL Trust Services LLC acquired a new position in shares of Coca-Cola in the 1st quarter valued at $28,000. 70.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, insider Nikolaos Koumettis sold 80,891 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $62.34, for a total value of $5,042,744.94. Following the sale, the insider now owns 218,880 shares of the company’s stock, valued at approximately $13,644,979.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Nancy Quan sold 18,484 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president now owns 223,330 shares in the company, valued at $15,968,095. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Nikolaos Koumettis sold 80,891 shares of Coca-Cola stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $62.34, for a total value of $5,042,744.94. Following the sale, the insider now directly owns 218,880 shares in the company, valued at $13,644,979.20. The disclosure for this sale can be found here. Insiders sold 1,074,910 shares of company stock worth $585,972,318 over the last ninety days. Company insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on KO. Bank of America raised their target price on shares of Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. TD Cowen raised their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Argus boosted their target price on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. Wells Fargo & Company raised their target price on Coca-Cola from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Finally, Truist Financial lifted their target price on Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus target price of $70.73.

Coca-Cola Stock Down 0.0 %

Shares of NYSE KO traded down $0.03 during mid-day trading on Friday, reaching $71.14. 17,485,707 shares of the company traded hands, compared to its average volume of 13,186,163. The company’s fifty day moving average is $67.48 and its two-hundred day moving average is $63.56. 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 Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $73.53. The stock has a market cap of $306.47 billion, a PE ratio of 28.46, a price-to-earnings-growth ratio of 4.05 and a beta of 0.60.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.81 by $0.03. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The company had revenue of $12.40 billion for the quarter, compared to the consensus estimate of $11.78 billion. During the same quarter last year, the company posted $0.78 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date is Friday, September 13th. Coca-Cola’s dividend payout ratio is 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.