Leo Wealth LLC Sells 965 Shares of The Coca-Cola Company (NYSE:KO)

Leo Wealth LLC trimmed its position in The Coca-Cola Company (NYSE:KO) by 5.0% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 18,240 shares of the company’s stock after selling 965 shares during the period. Leo Wealth LLC’s holdings in Coca-Cola were worth $1,311,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. New Millennium Group LLC acquired a new stake in Coca-Cola during the 2nd quarter worth $26,000. Quarry LP acquired a new stake in shares of Coca-Cola during the second quarter worth $27,000. Redmont Wealth Advisors LLC bought a new stake in Coca-Cola in the first quarter valued at about $28,000. ESL Trust Services LLC acquired a new position in Coca-Cola in the first quarter valued at about $28,000. Finally, DiNuzzo Private Wealth Inc. boosted 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 buying an additional 206 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on KO. StockNews.com downgraded Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. BNP Paribas initiated coverage on shares of Coca-Cola in a report on Monday, June 24th. They set an “outperform” rating and a $72.00 target price on the stock. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Cfra restated a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Finally, Bank of America upped their target price on shares of Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Coca-Cola has a consensus rating of “Moderate Buy” and an average target price of $72.00.

Insiders Place Their Bets

In related news, insider Bruno Pietracci sold 38,653 shares of the firm’s stock in a transaction dated 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 legal filing with the SEC, which is available at this hyperlink. 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 stock was sold at an average price of $69.01, for a total transaction of $2,667,443.53. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO James Quincey sold 102,533 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 356,792 shares of company stock worth $24,728,364. Insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

KO traded up $0.02 during trading on Tuesday, hitting $69.47. 9,928,441 shares of the stock traded hands, compared to its average volume of 13,143,897. 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 business has a 50 day moving average price of $70.73 and a 200 day moving average price of $65.87. The Coca-Cola Company has a twelve month low of $54.04 and a twelve month high of $73.53. The company has a market cap of $299.27 billion, a price-to-earnings ratio of 27.73, a PEG ratio of 3.92 and a beta of 0.60.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, beating 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 firm had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.78 billion. During the same period in the previous year, the firm posted $0.78 earnings per share. The business’s revenue was up 3.3% compared to the same quarter last year. Equities research analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s payout ratio is currently 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.