Lake Street Private Wealth LLC Trims Stake in The Coca-Cola Company (NYSE:KO)

Lake Street Private Wealth LLC lowered its holdings in The Coca-Cola Company (NYSE:KO) by 15.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,013 shares of the company’s stock after selling 2,539 shares during the period. Lake Street Private Wealth LLC’s holdings in Coca-Cola were worth $857,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Valley National Advisers Inc. increased its holdings in shares of Coca-Cola by 4.2% in the 1st quarter. Valley National Advisers Inc. now owns 6,094 shares of the company’s stock worth $372,000 after buying an additional 243 shares during the last quarter. IVC Wealth Advisors LLC increased its stake in Coca-Cola by 3.8% in the first quarter. IVC Wealth Advisors LLC now owns 12,643 shares of the company’s stock valued at $773,000 after acquiring an additional 468 shares during the last quarter. BluePath Capital Management LLC raised its position in Coca-Cola by 9.2% during the first quarter. BluePath Capital Management LLC now owns 17,633 shares of the company’s stock valued at $1,079,000 after purchasing an additional 1,480 shares in the last quarter. Redmont Wealth Advisors LLC purchased a new position in shares of Coca-Cola in the 1st quarter worth about $28,000. Finally, State of Alaska Department of Revenue increased its position in shares of Coca-Cola by 0.3% during the 1st quarter. State of Alaska Department of Revenue now owns 424,622 shares of the company’s stock valued at $25,977,000 after purchasing an additional 1,370 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Stock Performance

NYSE:KO opened at $63.33 on Thursday. The company has a quick ratio of 0.86, a current ratio of 1.04 and a debt-to-equity ratio of 1.26. The firm’s fifty day simple moving average is $62.82 and its 200 day simple moving average is $60.85. The stock has a market cap of $272.82 billion, a P/E ratio of 25.33, a price-to-earnings-growth ratio of 3.57 and a beta of 0.59. The Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $64.36.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The firm had revenue of $11.30 billion for the quarter, compared to analyst estimates of $11.01 billion. During the same quarter in the previous year, the firm posted $0.68 EPS. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, research analysts predict that The Coca-Cola Company will post 2.82 EPS for the current year.

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 14th were given a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend was Friday, June 14th. Coca-Cola’s dividend payout ratio is currently 77.60%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. StockNews.com lowered Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. JPMorgan Chase & Co. lifted their target price on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Evercore ISI upped their price target on shares of Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Argus boosted 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. Finally, BNP Paribas began coverage on Coca-Cola in a research note on Monday, June 24th. They issued an “outperform” rating and a $72.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $68.83.

Insider Activity

In other Coca-Cola news, EVP Nancy Quan sold 19,304 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $63.44, for a total transaction of $1,224,645.76. Following the completion of the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at $14,168,055.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Nikolaos Koumettis sold 80,891 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $62.34, for a total transaction of $5,042,744.94. Following the transaction, the insider now directly owns 218,880 shares of the company’s stock, valued at $13,644,979.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Nancy Quan sold 19,304 shares of the stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $63.44, for a total value of $1,224,645.76. Following the sale, the executive vice president now directly owns 223,330 shares in the company, valued at $14,168,055.20. The disclosure for this sale can be found here. Insiders sold a total of 223,665 shares of company stock worth $13,995,465 in the last quarter. 0.97% of the stock is owned by company insiders.

Coca-Cola 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.