Park Place Capital Corp Decreases Position in The Coca-Cola Company (NYSE:KO)

Park Place Capital Corp decreased its stake in The Coca-Cola Company (NYSE:KO) by 5.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,365 shares of the company’s stock after selling 1,402 shares during the period. Park Place Capital Corp’s holdings in Coca-Cola were worth $1,491,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of KO. Norges Bank purchased a new position in Coca-Cola in the fourth quarter valued at about $2,808,056,000. Fisher Asset Management LLC raised its stake in Coca-Cola by 11,138.6% during the fourth quarter. Fisher Asset Management LLC now owns 4,977,819 shares of the company’s stock valued at $293,343,000 after buying an additional 4,933,527 shares in the last quarter. Pathstone Holdings LLC acquired a new stake in Coca-Cola during the fourth quarter valued at approximately $193,342,000. Putnam Investments LLC raised its stake in Coca-Cola by 32.8% during the fourth quarter. Putnam Investments LLC now owns 12,032,095 shares of the company’s stock valued at $709,051,000 after buying an additional 2,973,234 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Coca-Cola by 7.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 40,564,179 shares of the company’s stock valued at $2,390,448,000 after buying an additional 2,893,061 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Down 0.6 %

Shares of Coca-Cola stock traded down $0.37 during midday trading on Monday, hitting $63.28. The company’s stock had a trading volume of 10,016,643 shares, compared to its average volume of 13,101,016. The firm has a market capitalization of $272.61 billion, a P/E ratio of 25.33, a PEG ratio of 3.60 and a beta of 0.59. The stock has a 50-day simple moving average of $62.72 and a 200-day simple moving average of $60.78. The company has a quick ratio of 0.86, a current ratio of 1.04 and a debt-to-equity ratio of 1.26. The Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $64.36.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.02. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. The business had revenue of $11.30 billion during the quarter, compared to analyst estimates of $11.01 billion. During the same period last year, the company earned $0.68 earnings per share. Coca-Cola’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, sell-side analysts expect that The Coca-Cola Company will post 2.82 earnings per share for the current year.

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a dividend of $0.485 per share. The ex-dividend date is Friday, June 14th. This represents a $1.94 annualized dividend and a dividend yield of 3.07%. Coca-Cola’s dividend payout ratio is 77.60%.

Analysts Set New Price Targets

Several analysts have issued reports on KO shares. BNP Paribas assumed coverage on Coca-Cola in a research note on Monday, June 24th. They set an “outperform” rating and a $72.00 price objective on the stock. Barclays increased their price target on Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. 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. UBS Group 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 1st. Finally, Morgan Stanley increased their price target on Coca-Cola from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, June 10th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $68.83.

Insider Buying and Selling

In other Coca-Cola news, EVP Monica Howard Douglas sold 8,874 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $63.31, for a total transaction of $561,812.94. Following the transaction, the executive vice president now directly owns 33,638 shares in the company, valued at $2,129,621.78. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Coca-Cola news, EVP Monica Howard Douglas sold 8,874 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $63.31, for a total transaction of $561,812.94. Following the transaction, the executive vice president now directly owns 33,638 shares in the company, valued at $2,129,621.78. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Beatriz R. Perez sold 57,298 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were 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 owns 167,107 shares in the company, valued at $10,358,962.93. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 223,665 shares of company stock worth $13,995,465. Corporate insiders own 0.97% of the company’s stock.

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.