The Coca-Cola Company (NYSE:KO) Shares Sold by Park Place Capital Corp

Park Place Capital Corp decreased its holdings in The Coca-Cola Company (NYSE:KO) by 7.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 22,432 shares of the company’s stock after selling 1,933 shares during the quarter. Park Place Capital Corp’s holdings in Coca-Cola were worth $1,428,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Tidemark LLC acquired a new stake in Coca-Cola during the fourth quarter valued at approximately $26,000. Private Wealth Management Group LLC acquired a new stake in Coca-Cola during the fourth quarter valued at approximately $27,000. Redmont Wealth Advisors LLC acquired a new stake in Coca-Cola during the first quarter valued at approximately $28,000. ESL Trust Services LLC acquired a new stake in Coca-Cola during the first quarter valued at approximately $28,000. Finally, Criterion Capital Advisors LLC acquired a new stake in Coca-Cola during the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on KO. StockNews.com cut Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Truist Financial increased their price target on Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Argus increased their price target on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. TD Cowen increased their price target on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Finally, BNP Paribas assumed coverage on Coca-Cola in a research report on Monday, June 24th. They set an “outperform” rating and a $72.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average price target of $70.20.

Insider Activity

In related news, EVP Beatriz R. Perez sold 57,298 shares of Coca-Cola stock in a transaction on Monday, May 6th. The stock was sold at an average price of $61.99, for a total value of $3,551,903.02. Following the transaction, the executive vice president now directly owns 167,107 shares in the company, valued at approximately $10,358,962.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder Cola Co Coca sold 598,619 shares of the firm’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $925.00, for a total value of $553,722,575.00. Following the completion of the sale, the insider now owns 1,883,546 shares of the company’s stock, valued at $1,742,280,050. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Beatriz R. Perez sold 57,298 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $61.99, for a total value of $3,551,903.02. Following the completion of the sale, the executive vice president now directly owns 167,107 shares of the company’s stock, valued at approximately $10,358,962.93. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 879,375 shares of company stock worth $571,502,245. 0.97% of the stock is owned by company insiders.

Coca-Cola Price Performance

Shares of KO stock traded up $1.37 during mid-day trading on Friday, hitting $69.33. 22,514,775 shares of the stock traded hands, compared to its average volume of 12,301,018. The Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $69.67. The firm has a market cap of $298.80 billion, a price-to-earnings ratio of 27.73, a price-to-earnings-growth ratio of 3.80 and a beta of 0.59. The company’s 50-day simple moving average is $64.00 and its 200-day simple moving average is $61.78. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results 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. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The company had revenue of $12.40 billion for the quarter, compared to analysts’ expectations of $11.78 billion. During the same period last year, the firm earned $0.78 EPS. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, equities research analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The company 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. This represents a $1.94 annualized dividend and a dividend yield of 2.80%. The ex-dividend date of this dividend is Friday, September 13th. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

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.