Ignite Planners LLC Sells 338 Shares of The Coca-Cola Company (NYSE:KO)

Ignite Planners LLC trimmed its holdings in shares of The Coca-Cola Company (NYSE:KOFree Report) by 1.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 34,406 shares of the company’s stock after selling 338 shares during the period. Coca-Cola makes up about 0.8% of Ignite Planners LLC’s investment portfolio, making the stock its 24th largest holding. Ignite Planners LLC’s holdings in Coca-Cola were worth $2,056,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Venturi Wealth Management LLC purchased a new position in shares of Coca-Cola during the 1st quarter valued at about $25,000. Freedom Wealth Alliance LLC bought a new position in Coca-Cola in the 4th quarter worth $25,000. Fortis Capital Advisors LLC purchased a new stake in shares of Coca-Cola during the fourth quarter worth about $30,000. NewSquare Capital LLC boosted its stake in Coca-Cola by 62.5% in the 1st quarter. NewSquare Capital LLC now owns 507 shares of the company’s stock worth $31,000 after purchasing an additional 195 shares during the period. Finally, KB Financial Partners LLC purchased a new stake in Coca-Cola during the 1st quarter valued at approximately $31,000. Hedge funds and other institutional investors own 68.96% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Beatriz R. Perez sold 50,000 shares of the company’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $62.66, for a total value of $3,133,000.00. Following the sale, the senior vice president now directly owns 143,383 shares of the company’s stock, valued at approximately $8,984,378.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO John Murphy sold 156,290 shares of the business’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $62.10, for a total value of $9,705,609.00. Following the completion of the transaction, the chief financial officer now directly owns 228,830 shares in the company, valued at approximately $14,210,343. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Beatriz R. Perez sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $62.66, for a total value of $3,133,000.00. Following the completion of the sale, the senior vice president now directly owns 143,383 shares in the company, valued at $8,984,378.78. The disclosure for this sale can be found here. In the last 90 days, insiders sold 227,364 shares of company stock valued at $14,122,016. 1.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Coca-Cola from $67.00 to $71.00 and gave the company an “overweight” rating in a report on Thursday, July 27th. Wedbush raised their target price on shares of Coca-Cola from $70.00 to $71.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. HSBC decreased their price target on shares of Coca-Cola from $77.00 to $74.00 in a research note on Wednesday, June 7th. StockNews.com assumed coverage on Coca-Cola in a research note on Thursday, August 17th. They issued a “buy” rating for the company. Finally, Barclays boosted their target price on Coca-Cola from $69.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, July 28th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.33.

Get Our Latest Analysis on KO

Coca-Cola Stock Up 0.2 %

Shares of NYSE KO traded up $0.14 during trading hours on Monday, hitting $58.08. 5,512,571 shares of the stock were exchanged, compared to its average volume of 13,113,660. The Coca-Cola Company has a 12 month low of $54.01 and a 12 month high of $64.99. The firm has a fifty day moving average price of $60.49 and a 200-day moving average price of $61.25. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 1.29. The company has a market cap of $251.16 billion, a PE ratio of 23.74, a PEG ratio of 3.43 and a beta of 0.55.

Coca-Cola (NYSE:KOGet Free Report) last announced its earnings results on Wednesday, July 26th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.06. The company had revenue of $12 billion for the quarter, compared to analyst estimates of $11.74 billion. Coca-Cola had a return on equity of 43.06% and a net margin of 23.81%. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.70 EPS. On average, sell-side analysts expect that The Coca-Cola Company will post 2.63 EPS for the current year.

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be paid a $0.46 dividend. The ex-dividend date is Thursday, September 14th. This represents a $1.84 dividend on an annualized basis and a yield of 3.17%. Coca-Cola’s dividend payout ratio (DPR) is 75.72%.

Coca-Cola Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

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