Zhang Financial LLC Sells 315 Shares of The Coca-Cola Co (NYSE:KO)

Zhang Financial LLC cut its stake in shares of The Coca-Cola Co (NYSE:KO) by 7.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,954 shares of the company’s stock after selling 315 shares during the quarter. Zhang Financial LLC’s holdings in The Coca-Cola were worth $201,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Meiji Yasuda Asset Management Co Ltd. boosted its position in The Coca-Cola by 0.8% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 163,986 shares of the company’s stock valued at $7,765,000 after buying an additional 1,331 shares during the last quarter. Mn Services Vermogensbeheer B.V. lifted its position in shares of The Coca-Cola by 244.9% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 2,223,597 shares of the company’s stock worth $92,103,000 after purchasing an additional 1,578,968 shares during the last quarter. Paradigm Financial Partners LLC bought a new position in shares of The Coca-Cola during the fourth quarter worth about $1,705,000. Freestone Capital Holdings LLC raised its stake in The Coca-Cola by 77.7% during the fourth quarter. Freestone Capital Holdings LLC now owns 9,517 shares of the company’s stock worth $451,000 after acquiring an additional 4,161 shares during the period. Finally, Strategic Wealth Advisors Group LLC acquired a new stake in The Coca-Cola during the fourth quarter worth about $3,140,000. Hedge funds and other institutional investors own 66.80% of the company’s stock.

The Coca-Cola stock traded up $0.30 during trading hours on Friday, reaching $52.33. 13,101,092 shares of the stock were exchanged, compared to its average volume of 12,321,040. The company has a market cap of $222.48 billion, a P/E ratio of 25.16, a P/E/G ratio of 3.62 and a beta of 0.48. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.71 and a current ratio of 0.83. The Coca-Cola Co has a twelve month low of $44.25 and a twelve month high of $54.82. The stock has a 50 day moving average price of $52.04.

The Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, July 23rd. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.62 by $0.01. The Coca-Cola had a net margin of 21.11% and a return on equity of 45.67%. The business had revenue of $10 billion for the quarter, compared to the consensus estimate of $9.86 billion. During the same period last year, the company earned $0.61 EPS. The firm’s revenue was up 6.1% compared to the same quarter last year. On average, sell-side analysts predict that The Coca-Cola Co will post 2.1 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, September 13th. This represents a $1.60 annualized dividend and a yield of 3.06%. The Coca-Cola’s payout ratio is 76.92%.

A number of research firms recently commented on KO. Royal Bank of Canada reiterated a “buy” rating and set a $60.00 price objective on shares of The Coca-Cola in a research note on Wednesday, July 24th. JPMorgan Chase & Co. raised their target price on shares of The Coca-Cola from $50.00 to $59.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Barclays set a $54.00 price objective on shares of The Coca-Cola and gave the stock a “buy” rating in a research note on Thursday, May 16th. Wells Fargo & Co raised their price objective on shares of The Coca-Cola from $50.00 to $52.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 16th. Finally, BMO Capital Markets lifted their target price on shares of The Coca-Cola from $48.00 to $52.00 and gave the company a “market perform” rating in a research note on Wednesday, July 24th. Twelve analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $53.86.

In other The Coca-Cola news, insider Jennifer K. Mann sold 9,000 shares of The Coca-Cola stock in a transaction on Friday, June 7th. The shares were sold at an average price of $51.88, for a total transaction of $466,920.00. Following the transaction, the insider now directly owns 41,049 shares of the company’s stock, valued at approximately $2,129,622.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Francisco Crespo sold 125,948 shares of The Coca-Cola stock in a transaction on 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 transaction, the insider now directly owns 186,631 shares in the company, valued at $9,331,550. The disclosure for this sale can be found here. Insiders sold a total of 369,175 shares of company stock valued at $18,634,452 in the last quarter. 1.33% of the stock is currently owned by company insiders.

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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