Plancorp LLC Sells 223 Shares of The Coca-Cola Company (NYSE:KO)

Plancorp LLC cut its position in The Coca-Cola Company (NYSE:KO) by 1.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,559 shares of the company’s stock after selling 223 shares during the period. Plancorp LLC’s holdings in Coca-Cola were worth $736,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Focus Financial Network Inc. ADV bought a new position in Coca-Cola in the 4th quarter worth approximately $3,255,000. Swedbank AB bought a new position in Coca-Cola in the first quarter valued at about $102,604,000. Angeles Investment Advisors LLC increased its position in Coca-Cola by 2.4% in the fourth quarter. Angeles Investment Advisors LLC now owns 15,812 shares of the company’s stock worth $932,000 after purchasing an additional 374 shares during the period. Wealth Quarterback LLC raised its holdings in Coca-Cola by 3.2% during the 4th quarter. Wealth Quarterback LLC now owns 17,454 shares of the company’s stock worth $1,029,000 after purchasing an additional 537 shares during the last quarter. Finally, BDF Gestion bought a new stake in shares of Coca-Cola during the second quarter worth approximately $7,421,000. Institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

KO has been the subject of a number of analyst reports. 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 report on Tuesday, August 27th. Bank of America lifted their price objective on Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Argus increased their target price on 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 boosted their target price on Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Barclays boosted their price objective on shares of Coca-Cola from $69.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola has a consensus rating of “Moderate Buy” and an average target price of $71.07.

Coca-Cola Stock Performance

Shares of KO stock opened at $72.10 on Tuesday. The firm has a market cap of $310.60 billion, a PE ratio of 28.84, a P/E/G ratio of 3.93 and a beta of 0.60. The Coca-Cola Company has a 12 month low of $51.55 and a 12 month high of $73.53. The company’s fifty day simple moving average is $68.47 and its 200-day simple moving average is $64.04. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. The company had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.78 EPS. Equities research analysts expect that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors 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 2.69%. The ex-dividend date is Friday, September 13th. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Insiders Place Their Bets

In related news, EVP Nancy Quan sold 18,482 shares of Coca-Cola stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $68.95, for a total transaction of $1,274,333.90. Following the completion of the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $15,398,603.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Nancy Quan sold 18,482 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $68.95, for a total transaction of $1,274,333.90. Following the completion of the sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,398,603.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Cola Co Coca sold 598,619 shares of the business’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $925.00, for a total value of $553,722,575.00. Following the completion of the transaction, the insider now directly owns 1,883,546 shares of the company’s stock, valued at approximately $1,742,280,050. The disclosure for this sale can be found here. Insiders sold 974,715 shares of company stock worth $579,704,927 over the last three months. 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.