The Coca-Cola Company (NYSE:KO) Shares Sold by Oak Harvest Investment Services

Oak Harvest Investment Services lowered its stake in The Coca-Cola Company (NYSE:KO) by 4.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,886 shares of the company’s stock after selling 390 shares during the period. Oak Harvest Investment Services’ holdings in Coca-Cola were worth $567,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. New Millennium Group LLC acquired a new position in Coca-Cola during the second quarter worth $26,000. Quarry LP acquired a new position in Coca-Cola during the second quarter worth $27,000. ESL Trust Services LLC acquired a new position in Coca-Cola during the first quarter worth $28,000. DiNuzzo Private Wealth Inc. grew its holdings in Coca-Cola by 65.0% during the first quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock worth $32,000 after acquiring an additional 206 shares during the period. Finally, Mount Lucas Management LP acquired a new position in Coca-Cola during the second quarter worth $38,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Activity at Coca-Cola

In other Coca-Cola news, insider Bruno Pietracci sold 38,653 shares of Coca-Cola stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $69.01, for a total transaction of $2,667,443.53. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, insider Bruno Pietracci sold 38,653 shares of Coca-Cola stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $69.01, for a total value of $2,667,443.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Nancy Quan sold 18,482 shares of Coca-Cola stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $68.95, for a total value of $1,274,333.90. Following the completion of the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,398,603.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 319,005 shares of company stock worth $22,198,147. 0.97% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on KO. TD Cowen boosted their target price on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Morgan Stanley reduced their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Bank of America upped their price objective on Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Cfra reiterated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Finally, StockNews.com lowered Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Coca-Cola presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.80.

Coca-Cola Stock Performance

Coca-Cola stock opened at $65.92 on Thursday. The company has a market cap of $283.98 billion, a price-to-earnings ratio of 26.37, a price-to-earnings-growth ratio of 3.91 and a beta of 0.60. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The Coca-Cola Company has a 12 month low of $56.06 and a 12 month high of $73.53. The stock’s 50-day moving average is $70.47 and its 200-day moving average is $66.22.

Coca-Cola (NYSE:KO) last announced its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.74 by $0.03. The business had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The company’s revenue was down .8% on a year-over-year basis. During the same period last year, the business posted $0.74 EPS. Equities analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued 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 2.94%. Coca-Cola’s payout ratio is currently 77.60%.

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.