Consolidated Planning Corp Reduces Stock Holdings in The Coca-Cola Company (NYSE:KO)

Consolidated Planning Corp decreased its holdings in The Coca-Cola Company (NYSE:KO) by 76.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,960 shares of the company’s stock after selling 104,763 shares during the quarter. Consolidated Planning Corp’s holdings in Coca-Cola were worth $1,942,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Enterprise Bank & Trust Co boosted its holdings in Coca-Cola by 3.4% in the fourth quarter. Enterprise Bank & Trust Co now owns 5,021 shares of the company’s stock worth $296,000 after acquiring an additional 167 shares in the last quarter. Elk River Wealth Management LLC raised its stake in shares of Coca-Cola by 1.6% in the fourth quarter. Elk River Wealth Management LLC now owns 10,838 shares of the company’s stock worth $639,000 after purchasing an additional 170 shares during the last quarter. KRS Capital Management LLC raised its stake in shares of Coca-Cola by 3.8% in the fourth quarter. KRS Capital Management LLC now owns 4,645 shares of the company’s stock worth $274,000 after purchasing an additional 170 shares during the last quarter. Wayfinding Financial LLC raised its stake in shares of Coca-Cola by 1.8% in the fourth quarter. Wayfinding Financial LLC now owns 9,734 shares of the company’s stock worth $573,000 after purchasing an additional 175 shares during the last quarter. Finally, John G Ullman & Associates Inc. raised its stake in shares of Coca-Cola by 2.2% in the fourth quarter. John G Ullman & Associates Inc. now owns 8,081 shares of the company’s stock worth $476,000 after purchasing an additional 175 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insiders Place Their Bets

In other Coca-Cola news, insider Bruno Pietracci sold 18,551 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $59.41, for a total transaction of $1,102,114.91. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Coca-Cola news, EVP Beatriz R. Perez sold 52,300 shares of the business’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $60.00, for a total transaction of $3,138,000.00. Following the transaction, the executive vice president now owns 143,383 shares of the company’s stock, valued at $8,602,980. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bruno Pietracci sold 18,551 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $59.41, for a total value of $1,102,114.91. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 375,407 shares of company stock valued at $22,795,742. Insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on KO shares. JPMorgan Chase & Co. reduced their price objective on Coca-Cola from $66.00 to $65.00 and set an “overweight” rating for the company in a research note on Friday, April 19th. Barclays lifted their price target on Coca-Cola from $66.00 to $68.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. Finally, Citigroup lifted their price target on Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $67.22.

Coca-Cola Price Performance

Shares of Coca-Cola stock remained flat at $61.74 on Friday. The stock had a trading volume of 10,994,262 shares, compared to its average volume of 12,842,353. The firm has a market capitalization of $266.17 billion, a P/E ratio of 24.90, a P/E/G ratio of 3.53 and a beta of 0.59. The Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $64.69. The business has a 50-day simple moving average of $60.12 and a 200-day simple moving average of $58.82. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.13 and a quick ratio of 0.95.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. The business had revenue of $10.80 billion during the quarter, compared to analysts’ expectations of $10.68 billion. Coca-Cola had a return on equity of 42.50% and a net margin of 23.42%. The business’s revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.45 earnings per share. Sell-side analysts forecast that The Coca-Cola Company will post 2.81 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were paid a dividend of $0.485 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.94 dividend on an annualized basis and a yield of 3.14%. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.46. Coca-Cola’s payout ratio is 78.23%.

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.