Abacus Planning Group Inc. Has $1.45 Million Position in The Coca-Cola Co (NYSE:KO)

Abacus Planning Group Inc. lifted its stake in shares of The Coca-Cola Co (NYSE:KO) by 9.7% during the 1st quarter, Holdings Channel reports. The institutional investor owned 30,947 shares of the company’s stock after buying an additional 2,744 shares during the period. The Coca-Cola makes up about 0.9% of Abacus Planning Group Inc.’s portfolio, making the stock its 20th largest position. Abacus Planning Group Inc.’s holdings in The Coca-Cola were worth $1,450,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in KO. Mraz Amerine & Associates Inc. boosted its position in The Coca-Cola by 0.4% in the fourth quarter. Mraz Amerine & Associates Inc. now owns 47,568 shares of the company’s stock worth $2,252,000 after purchasing an additional 208 shares during the last quarter. Paulson Wealth Management Inc. raised its stake in shares of The Coca-Cola by 3.2% in the first quarter. Paulson Wealth Management Inc. now owns 6,622 shares of the company’s stock valued at $310,000 after buying an additional 208 shares during the period. OmniStar Financial Group Inc. raised its stake in shares of The Coca-Cola by 1.3% in the first quarter. OmniStar Financial Group Inc. now owns 17,021 shares of the company’s stock valued at $798,000 after buying an additional 216 shares during the period. Chessman Wealth Strategies RIA raised its stake in shares of The Coca-Cola by 1.3% in the first quarter. Chessman Wealth Strategies RIA now owns 17,483 shares of the company’s stock valued at $819,000 after buying an additional 230 shares during the period. Finally, Wagner Bowman Management Corp raised its stake in shares of The Coca-Cola by 0.7% in the first quarter. Wagner Bowman Management Corp now owns 31,041 shares of the company’s stock valued at $1,454,000 after buying an additional 230 shares during the period. 66.83% of the stock is currently owned by institutional investors.

In related news, insider Francisco Crespo sold 125,948 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $50.00, for a total transaction of $6,297,400.00. Following the completion of the transaction, the insider now directly owns 186,631 shares in the company, valued at $9,331,550. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Robert Edward Long sold 30,412 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $49.97, for a total value of $1,519,687.64. Following the transaction, the senior vice president now owns 57,538 shares of the company’s stock, valued at $2,875,173.86. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 316,600 shares of company stock worth $15,760,365. 1.33% of the stock is currently owned by corporate insiders.

NYSE:KO opened at $51.31 on Friday. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.91 and a current ratio of 1.02. The Coca-Cola Co has a 52-week low of $42.96 and a 52-week high of $52.19. The firm has a market cap of $218.13 billion, a P/E ratio of 24.67, a P/E/G ratio of 3.50 and a beta of 0.50.

The Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.02. The Coca-Cola had a return on equity of 45.12% and a net margin of 20.91%. The company had revenue of $8 billion for the quarter, compared to analyst estimates of $7.89 billion. During the same period in the previous year, the company posted $0.47 EPS. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. Research analysts forecast that The Coca-Cola Co will post 2.09 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a dividend of $0.40 per share. The ex-dividend date is Thursday, June 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.12%. The Coca-Cola’s payout ratio is 76.92%.

Several analysts have issued reports on the company. Zacks Investment Research lowered The Coca-Cola from a “buy” rating to a “hold” rating in a research note on Tuesday, May 14th. Deutsche Bank restated a “buy” rating and issued a $53.00 target price on shares of The Coca-Cola in a research note on Thursday, April 18th. Finally, ValuEngine upgraded The Coca-Cola from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Thirteen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The Coca-Cola currently has a consensus rating of “Hold” and an average price target of $51.05.

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The Coca-Cola Profile

The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plant–based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

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

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