Marcum Wealth LLC Trims Stake in The Coca-Cola Company (NYSE:KO)

Marcum Wealth LLC lowered its stake in shares of The Coca-Cola Company (NYSE:KO) by 10.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,663 shares of the company’s stock after selling 2,264 shares during the quarter. Marcum Wealth LLC’s holdings in The Coca-Cola were worth $1,010,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Litman Gregory Asset Management LLC purchased a new stake in The Coca-Cola in the second quarter worth about $27,000. Goodwin Investment Advisory grew its holdings in The Coca-Cola by 70.5% in the second quarter. Goodwin Investment Advisory now owns 520 shares of the company’s stock worth $100,000 after purchasing an additional 215 shares during the period. Elkhorn Partners Limited Partnership purchased a new stake in The Coca-Cola in the first quarter worth about $32,000. Hillsdale Investment Management Inc. purchased a new stake in The Coca-Cola in the second quarter worth about $32,000. Finally, Tortoise Investment Management LLC grew its holdings in shares of The Coca-Cola by 108.8% during the second quarter. Tortoise Investment Management LLC now owns 618 shares of the company’s stock valued at $33,000 after buying an additional 322 shares during the last quarter. Institutional investors own 66.67% of the company’s stock.

In other news, SVP Nancy Quan sold 6,625 shares of the firm’s stock in a transaction dated Tuesday, August 10th. The shares were sold at an average price of $57.08, for a total value of $378,155.00. Following the completion of the sale, the senior vice president now owns 176,701 shares in the company, valued at approximately $10,086,093.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Brian John Smith sold 10,000 shares of The Coca-Cola stock in a transaction dated Friday, August 27th. The shares were sold at an average price of $55.65, for a total transaction of $556,500.00. Following the sale, the chief operating officer now owns 144,229 shares of the company’s stock, valued at approximately $8,026,343.85. The disclosure for this sale can be found here. Insiders sold a total of 68,188 shares of company stock valued at $3,864,107 over the last three months. Corporate insiders own 1.01% of the company’s stock.

KO has been the topic of a number of recent analyst reports. Bank of America increased their price target on shares of The Coca-Cola from $60.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, July 22nd. UBS Group increased their price objective on shares of The Coca-Cola from $59.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, July 22nd. Morgan Stanley increased their price objective on shares of The Coca-Cola from $64.00 to $65.00 and gave the company an “overweight” rating in a research report on Thursday, July 22nd. Royal Bank of Canada restated a “buy” rating and set a $60.00 price objective on shares of The Coca-Cola in a research report on Wednesday, June 23rd. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of The Coca-Cola from $58.00 to $60.00 and gave the company a “hold” rating in a research report on Thursday, July 22nd. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, The Coca-Cola presently has a consensus rating of “Buy” and a consensus target price of $61.25.

KO traded up $0.11 during trading on Wednesday, hitting $55.80. 153,939 shares of the company traded hands, compared to its average volume of 15,537,233. The company has a market cap of $240.59 billion, a PE ratio of 29.78, a P/E/G ratio of 2.85 and a beta of 0.62. The stock’s 50-day simple moving average is $56.29 and its two-hundred day simple moving average is $54.55. The Coca-Cola Company has a 1 year low of $47.30 and a 1 year high of $57.56. The company has a current ratio of 1.47, a quick ratio of 1.25 and a debt-to-equity ratio of 1.64.

The Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, July 20th. The company reported $0.68 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.12. The Coca-Cola had a net margin of 22.19% and a return on equity of 44.17%. The company had revenue of $10.10 billion during the quarter, compared to analysts’ expectations of $9.30 billion. During the same period last year, the company posted $0.42 earnings per share. The Coca-Cola’s quarterly revenue was up 40.3% on a year-over-year basis. Equities analysts expect that The Coca-Cola Company will post 2.25 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 1st. Shareholders of record on Wednesday, September 15th will be paid a $0.42 dividend. The ex-dividend date is Tuesday, September 14th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.01%. The Coca-Cola’s payout ratio is currently 86.15%.

The Coca-Cola Company Profile

The Coca-Cola Co is the nonalcoholic beverage company, which engages in the manufacture, market, and sale of non-alcoholic beverages which include sparkling soft drinks, water, enhanced water and sports drinks, juice, dairy and plant-based beverages, tea and coffee and energy drinks. Its brands include Coca-Cola, Diet Coke, Coca-Cola Zero, Fanta, Sprite, Minute Maid, Georgia, Powerade, Del Valle, Schweppes, Aquarius, Minute Maid Pulpy, Dasani, Simply, Glaceau Vitaminwater, Bonaqua, Gold Peak, Fuze Tea, Glaceau Smartwater, and Ice Dew.

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

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