Lake Street Private Wealth LLC Cuts Holdings in The Coca-Cola Company (NYSE:KO)

Lake Street Private Wealth LLC lessened its position in shares of The Coca-Cola Company (NYSE:KO) by 49.5% in the third quarter, Holdings Channel.com reports. The fund owned 6,588 shares of the company’s stock after selling 6,453 shares during the quarter. Lake Street Private Wealth LLC’s holdings in Coca-Cola were worth $473,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New Millennium Group LLC purchased a new stake in Coca-Cola during the 2nd quarter worth $26,000. Quarry LP purchased a new stake in shares of Coca-Cola in the second quarter worth about $27,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Coca-Cola in the first quarter valued at about $28,000. ESL Trust Services LLC purchased a new stake in shares of Coca-Cola during the 1st quarter valued at about $28,000. Finally, DiNuzzo Private Wealth Inc. lifted its position in Coca-Cola by 65.0% during the 1st quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock worth $32,000 after acquiring an additional 206 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Coca-Cola

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 value of $2,667,443.53. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Coca-Cola 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 356,792 shares of company stock worth $24,728,364 in the last 90 days. 0.97% of the stock is currently owned by company insiders.

Coca-Cola Stock Down 2.1 %

KO stock opened at $68.02 on Thursday. The firm has a fifty day moving average price of $70.74 and a two-hundred day moving average price of $65.96. 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 1-year low of $55.10 and a 1-year high of $73.53. The firm has a market cap of $293.03 billion, a price-to-earnings ratio of 27.21, a PEG ratio of 3.92 and a beta of 0.60.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 earnings per share 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 firm had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.78 billion. During the same quarter in the prior year, the business earned $0.78 earnings per share. Coca-Cola’s quarterly revenue was up 3.3% on a year-over-year basis. Research analysts predict that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 2.85%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is 77.60%.

Wall Street Analysts Forecast Growth

KO has been the subject of several recent research reports. Royal Bank of Canada increased their price objective on shares of Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. StockNews.com lowered shares of Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Truist Financial raised their target price on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Barclays boosted their price target on Coca-Cola from $70.00 to $74.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $72.00.

About Coca-Cola

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.