Thrivent Financial for Lutherans Has $37.79 Million Stock Holdings in The Coca-Cola Company (NYSE:KO)

Thrivent Financial for Lutherans decreased its position in shares of The Coca-Cola Company (NYSE:KO) by 7.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 525,678 shares of the company’s stock after selling 41,012 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Coca-Cola were worth $37,785,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of KO. Lake Street Advisors Group LLC raised its position in shares of Coca-Cola by 60.8% during the 1st quarter. Lake Street Advisors Group LLC now owns 26,361 shares of the company’s stock valued at $1,626,000 after acquiring an additional 9,968 shares during the last quarter. Ossiam raised its position in shares of Coca-Cola by 157.0% during the 1st quarter. Ossiam now owns 175,804 shares of the company’s stock valued at $10,756,000 after acquiring an additional 107,393 shares during the last quarter. Evermay Wealth Management LLC raised its position in shares of Coca-Cola by 4.0% during the 1st quarter. Evermay Wealth Management LLC now owns 8,519 shares of the company’s stock valued at $525,000 after acquiring an additional 329 shares during the last quarter. Elgethun Capital Management raised its position in shares of Coca-Cola by 7.3% during the 1st quarter. Elgethun Capital Management now owns 10,485 shares of the company’s stock valued at $638,000 after acquiring an additional 710 shares during the last quarter. Finally, Crewe Advisors LLC bought a new stake in shares of Coca-Cola during the 1st quarter valued at $169,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Stock Up 0.2 %

NYSE:KO opened at $61.85 on Tuesday. The firm has a market cap of $266.44 billion, a P/E ratio of 25.56, a P/E/G ratio of 3.75 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The Coca-Cola Company has a fifty-two week low of $56.96 and a fifty-two week high of $73.53. The firm has a 50-day simple moving average of $68.43 and a two-hundred day simple moving average of $66.54.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The firm had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. During the same period in the previous year, the business posted $0.74 earnings per share. The business’s revenue for the quarter was down .8% on a year-over-year basis. Analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a $0.485 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 3.14%. Coca-Cola’s payout ratio is 80.17%.

Insider Buying and Selling at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the completion of the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Nancy Quan sold 18,484 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. The trade was a 7.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 303,748 shares of company stock valued at $20,677,431 in the last three months. 0.97% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

KO has been the subject of a number of recent analyst reports. Cfra restated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Morgan Stanley lowered their price objective on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. Finally, Wells Fargo & Company increased their target price on Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $72.36.

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.