Lake Street Financial LLC Has $809,000 Stock Holdings in The Coca-Cola Company (NYSE:KO)

Lake Street Financial LLC boosted its position in shares of The Coca-Cola Company (NYSE:KOGet Rating) by 5.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,857 shares of the company’s stock after buying an additional 612 shares during the quarter. Lake Street Financial LLC’s holdings in Coca-Cola were worth $809,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of KO. Nauset Wealth Management. LLC acquired a new position in shares of Coca-Cola in the 1st quarter valued at $27,000. Delos Wealth Advisors LLC lifted its stake in shares of Coca-Cola by 4,770.0% in the 4th quarter. Delos Wealth Advisors LLC now owns 487 shares of the company’s stock valued at $29,000 after purchasing an additional 477 shares during the period. Carl Stuart Investment Advisor Inc. acquired a new position in shares of Coca-Cola in the 1st quarter valued at $34,000. Hillsdale Investment Management Inc. acquired a new position in shares of Coca-Cola in the 1st quarter valued at $35,000. Finally, Rational Advisors LLC acquired a new position in shares of Coca-Cola in the 1st quarter valued at $37,000. Institutional investors and hedge funds own 68.93% of the company’s stock.

Coca-Cola Price Performance

Shares of NYSE KO opened at $59.90 on Wednesday. The stock has a market capitalization of $259.05 billion, a price-to-earnings ratio of 27.10, a PEG ratio of 3.79 and a beta of 0.54. The business has a 50-day moving average of $62.70 and a 200-day moving average of $62.70. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.13 and a quick ratio of 0.95. The Coca-Cola Company has a fifty-two week low of $52.28 and a fifty-two week high of $67.20.

Coca-Cola (NYSE:KOGet Rating) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.03. The company had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $10.57 billion. Coca-Cola had a return on equity of 42.13% and a net margin of 23.16%. Coca-Cola’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.68 EPS. As a group, sell-side analysts predict that The Coca-Cola Company will post 2.46 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 16th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend is Thursday, September 15th. Coca-Cola’s payout ratio is 79.64%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Morgan Stanley cut their price target on Coca-Cola from $76.00 to $74.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 27th. Royal Bank of Canada set a $69.00 price objective on Coca-Cola in a research note on Tuesday, July 26th. HSBC raised their price objective on Coca-Cola from $72.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, September 6th. StockNews.com raised Coca-Cola from a “hold” rating to a “buy” rating in a research note on Saturday, August 6th. Finally, JPMorgan Chase & Co. set a $70.00 price objective on Coca-Cola in a research note on Tuesday, July 26th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and a consensus target price of $69.59.

Insider Activity

In related news, CEO James Quincey sold 32,000 shares of the firm’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $64.09, for a total value of $2,050,880.00. Following the completion of the sale, the chief executive officer now directly owns 351,737 shares in the company, valued at approximately $22,542,824.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO James Quincey sold 32,000 shares of the firm’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $64.09, for a total value of $2,050,880.00. Following the completion of the sale, the chief executive officer now directly owns 351,737 shares in the company, valued at approximately $22,542,824.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carolyn Everson bought 983 shares of the business’s stock in a transaction that occurred on Wednesday, July 27th. The stock was purchased at an average price of $62.29 per share, with a total value of $61,231.07. Following the completion of the purchase, the director now directly owns 1,500 shares in the company, valued at approximately $93,435. The disclosure for this purchase can be found here. Insiders sold 45,830 shares of company stock worth $2,939,961 in the last quarter. Corporate insiders own 0.98% of the company’s stock.

Coca-Cola Profile

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The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; flavored and enhanced water, and sports drinks; juice, dairy, and plant-based beverages; tea and coffee; and energy drinks. 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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