Capital Wealth Planning LLC Sells 3,054,488 Shares of The Coca-Cola Company (NYSE:KO)

Capital Wealth Planning LLC lessened its position in shares of The Coca-Cola Company (NYSE:KO) by 99.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,130 shares of the company’s stock after selling 3,054,488 shares during the period. Capital Wealth Planning LLC’s holdings in Coca-Cola were worth $645,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. New Millennium Group LLC bought a new position in shares of Coca-Cola in the 2nd quarter valued at about $26,000. Tidemark LLC acquired a new stake in Coca-Cola during the fourth quarter worth approximately $26,000. ESL Trust Services LLC acquired a new stake in Coca-Cola during the first quarter worth approximately $28,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Coca-Cola in the first quarter valued at approximately $28,000. Finally, Frazier Financial Advisors LLC acquired a new stake in shares of Coca-Cola in the fourth quarter valued at approximately $31,000. Institutional investors own 70.26% of the company’s stock.

Insider Transactions at Coca-Cola

In related news, insider Bruno Pietracci sold 38,653 shares of the firm’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 value of $2,667,443.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Coca-Cola news, insider Bruno Pietracci sold 38,653 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total value of $2,667,443.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Cola Co Coca sold 598,619 shares of the firm’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the completion of the transaction, the insider now directly owns 1,883,546 shares of the company’s stock, valued at $1,742,280,050. The disclosure for this sale can be found here. Insiders sold a total of 974,715 shares of company stock worth $579,704,927 in the last quarter. Insiders own 0.97% of the company’s stock.

Coca-Cola Trading Up 0.3 %

NYSE:KO opened at $71.41 on Monday. 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 firm has a market cap of $307.63 billion, a price-to-earnings ratio of 28.56, a price-to-earnings-growth ratio of 3.93 and a beta of 0.60. The Coca-Cola Company has a 52 week low of $51.55 and a 52 week high of $73.53. The firm has a 50-day moving average price of $68.28 and a two-hundred day moving average price of $63.95.

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, topping the consensus estimate of $0.81 by $0.03. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The company had revenue of $12.40 billion during the quarter, compared to analyst estimates of $11.78 billion. During the same quarter last year, the business posted $0.78 EPS. Coca-Cola’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, equities analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on KO shares. Cfra reissued a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Morgan Stanley boosted their target price on shares of Coca-Cola from $70.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 27th. Wells Fargo & Company lifted their price target on shares of Coca-Cola from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. TD Cowen boosted their target price on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. 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 data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.73.

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.