Lake Street Private Wealth LLC Lowers Stock Position in The Coca-Cola Company (NYSE:KO)

Lake Street Private Wealth LLC lowered its holdings in shares of The Coca-Cola Company (NYSE:KO) by 49.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,588 shares of the company’s stock after selling 6,453 shares during the period. Lake Street Private Wealth LLC’s holdings in Coca-Cola were worth $473,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Altus Wealth Group LLC purchased a new stake in shares of Coca-Cola during the third quarter worth approximately $208,000. Syntegra Private Wealth Group LLC boosted its holdings in shares of Coca-Cola by 5.6% in the third quarter. Syntegra Private Wealth Group LLC now owns 3,388 shares of the company’s stock valued at $243,000 after acquiring an additional 181 shares in the last quarter. Rebalance LLC raised its holdings in Coca-Cola by 4.6% during the third quarter. Rebalance LLC now owns 4,059 shares of the company’s stock worth $292,000 after purchasing an additional 177 shares in the last quarter. Greenleaf Trust lifted its position in Coca-Cola by 0.5% in the third quarter. Greenleaf Trust now owns 175,479 shares of the company’s stock valued at $12,610,000 after purchasing an additional 838 shares during the period. Finally, Commerzbank Aktiengesellschaft FI boosted its holdings in Coca-Cola by 86.9% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 791,676 shares of the company’s stock valued at $56,890,000 after purchasing an additional 368,096 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Coca-Cola

In related news, insider Bruno Pietracci sold 38,653 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were 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 SEC, which is accessible through this hyperlink. In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of Coca-Cola stock in a transaction dated Tuesday, August 27th. The stock was 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 trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Bruno Pietracci sold 38,653 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $69.01, for a total transaction of $2,667,443.53. The disclosure for this sale can be found here. Insiders sold a total of 356,792 shares of company stock worth $24,728,364 over the last ninety days. 0.97% of the stock is currently owned by corporate insiders.

Coca-Cola Price Performance

KO stock opened at $68.02 on Thursday. The stock’s 50 day moving average price is $70.74 and its 200 day moving average price is $65.96. The firm has a market cap of $293.03 billion, a P/E ratio of 27.21, a PEG ratio of 3.92 and a beta of 0.60. 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 1 year low of $55.10 and a 1 year high of $73.53.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.03. The business had revenue of $12.40 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the business earned $0.78 earnings per share. On average, sell-side analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 annualized dividend and a dividend yield of 2.85%. Coca-Cola’s dividend payout ratio is currently 77.60%.

Wall Street Analyst Weigh In

KO has been the subject of several recent analyst reports. Barclays raised their price target on Coca-Cola from $70.00 to $74.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Bank of America boosted their target price on shares of Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Truist Financial upped their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. TD Cowen raised their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Finally, Royal Bank of Canada upped their target price on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $72.00.

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.