Moors & Cabot Inc. Decreases Stock Holdings in The Coca-Cola Company (NYSE:KO)

Moors & Cabot Inc. lowered its stake in shares of The Coca-Cola Company (NYSE:KO) by 0.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 109,570 shares of the company’s stock after selling 523 shares during the quarter. Moors & Cabot Inc.’s holdings in Coca-Cola were worth $6,974,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in KO. Lmcg Investments LLC grew its position in shares of Coca-Cola by 1.9% in the 2nd quarter. Lmcg Investments LLC now owns 407,458 shares of the company’s stock worth $25,935,000 after buying an additional 7,473 shares during the last quarter. Luts & Greenleigh Group Inc. purchased a new position in Coca-Cola in the second quarter worth $1,383,000. WealthPLAN Partners LLC grew its holdings in Coca-Cola by 2.2% in the second quarter. WealthPLAN Partners LLC now owns 17,649 shares of the company’s stock worth $1,123,000 after purchasing an additional 382 shares during the last quarter. Citizens Financial Group Inc. RI increased its position in shares of Coca-Cola by 87.1% during the second quarter. Citizens Financial Group Inc. RI now owns 322,340 shares of the company’s stock worth $20,610,000 after purchasing an additional 150,050 shares in the last quarter. Finally, One Capital Management LLC purchased a new stake in shares of Coca-Cola during the 2nd quarter valued at $482,000. 70.26% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Nancy Quan sold 19,304 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $64.96, for a total value of $1,253,987.84. Following the completion of the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $14,507,516.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Lisa Chang sold 58,122 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $68.51, for a total value of $3,981,938.22. Following the transaction, the executive vice president now owns 74,067 shares in the company, valued at $5,074,330.17. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Nancy Quan sold 19,304 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $64.96, for a total value of $1,253,987.84. Following the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $14,507,516.80. The disclosure for this sale can be found here. Insiders have sold 974,715 shares of company stock worth $579,704,927 in the last quarter. Corporate insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on KO shares. Bank of America upped their target price on Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. BNP Paribas started coverage on shares of Coca-Cola in a research note on Monday, June 24th. They set an “outperform” rating and a $72.00 price target on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Citigroup upped their target price on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. lifted their price target on Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and a consensus target price of $71.07.

Coca-Cola Stock Performance

Shares of NYSE KO opened at $72.10 on Tuesday. The company has a market capitalization of $310.60 billion, a PE ratio of 28.84, a price-to-earnings-growth ratio of 3.93 and a beta of 0.60. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08. The company’s fifty day moving average price is $68.47 and its 200 day moving average price is $64.04. The Coca-Cola Company has a 1 year low of $51.55 and a 1 year high of $73.53.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. The firm had revenue of $12.40 billion for the quarter, compared to analysts’ expectations of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the firm earned $0.78 EPS. On average, research analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 2.69%. The ex-dividend date is Friday, September 13th. Coca-Cola’s payout ratio is 77.60%.

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.