Insigneo Advisory Services LLC Sells 2,551 Shares of The Coca-Cola Company (NYSE:KO)

Insigneo Advisory Services LLC cut its stake in shares of The Coca-Cola Company (NYSE:KO) by 5.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,827 shares of the company’s stock after selling 2,551 shares during the period. Insigneo Advisory Services LLC’s holdings in Coca-Cola were worth $2,917,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. New Millennium Group LLC purchased a new stake in shares of Coca-Cola during the 2nd quarter valued at $26,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Coca-Cola during the 1st quarter valued at $28,000. ESL Trust Services LLC purchased a new stake in shares of Coca-Cola during the 1st quarter valued at $28,000. DiNuzzo Private Wealth Inc. increased its position 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 valued at $32,000 after purchasing an additional 206 shares during the last quarter. Finally, Mount Lucas Management LP purchased a new stake in shares of Coca-Cola during the 2nd quarter valued at $38,000. 70.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

KO has been the subject of several research analyst reports. Citigroup raised their target price on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Truist Financial raised their target price on Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Cfra reissued a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. JPMorgan Chase & Co. lifted their price objective on Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Finally, Wells Fargo & Company lifted their price objective on Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a 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 company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $71.07.

Insider Activity

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

Coca-Cola Stock Down 0.5 %

KO stock opened at $71.34 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The firm has a market capitalization of $307.47 billion, a PE ratio of 28.54, a PEG ratio of 3.97 and a beta of 0.60. The Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $73.53. The stock has a 50-day simple moving average of $69.44 and a two-hundred day simple moving average of $64.54.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. The business had revenue of $12.40 billion during 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 company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.78 EPS. On average, equities analysts predict that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a dividend of $0.485 per share. The ex-dividend date is Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.72%. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

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.