Consolidated Planning Corp Has $1.94 Million Stock Holdings in The Coca-Cola Company (NYSE:KO)

Consolidated Planning Corp lessened its stake in shares of The Coca-Cola Company (NYSE:KO) by 76.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 32,960 shares of the company’s stock after selling 104,763 shares during the quarter. Consolidated Planning Corp’s holdings in Coca-Cola were worth $1,942,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Morgan Stanley raised its stake in Coca-Cola by 2.5% in the 3rd quarter. Morgan Stanley now owns 80,448,083 shares of the company’s stock worth $4,503,484,000 after purchasing an additional 1,950,146 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Coca-Cola by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 63,138,970 shares of the company’s stock worth $3,501,789,000 after purchasing an additional 2,464,618 shares in the last quarter. Northern Trust Corp raised its stake in Coca-Cola by 4.8% in the 3rd quarter. Northern Trust Corp now owns 44,913,068 shares of the company’s stock worth $2,514,234,000 after purchasing an additional 2,040,664 shares in the last quarter. Invesco Ltd. raised its stake in Coca-Cola by 8.2% in the 3rd quarter. Invesco Ltd. now owns 25,845,340 shares of the company’s stock worth $1,446,822,000 after purchasing an additional 1,963,963 shares in the last quarter. Finally, California Public Employees Retirement System raised its stake in Coca-Cola by 16.4% in the 4th quarter. California Public Employees Retirement System now owns 13,804,908 shares of the company’s stock worth $813,523,000 after purchasing an additional 1,949,500 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

KO has been the subject of several analyst reports. JPMorgan Chase & Co. dropped their price objective on shares of Coca-Cola from $66.00 to $65.00 and set an “overweight” rating for the company in a research note on Friday, April 19th. Barclays raised their target price on shares of Coca-Cola from $66.00 to $68.00 and gave the company an “overweight” rating in a report on Friday, April 12th. Finally, Citigroup lifted their price target on shares of Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Coca-Cola currently has an average rating of “Moderate Buy” and an average target price of $67.22.

Coca-Cola Price Performance

KO stock remained flat at $61.74 during midday trading on Friday. 10,994,262 shares of the company’s stock were exchanged, compared to its average volume of 12,842,353. The firm has a market capitalization of $266.17 billion, a P/E ratio of 24.90, a price-to-earnings-growth ratio of 3.53 and a beta of 0.59. The firm has a 50 day simple moving average of $60.12 and a two-hundred day simple moving average of $58.82. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.95 and a current ratio of 1.13. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $64.69.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. The business had revenue of $10.80 billion during the quarter, compared to analyst estimates of $10.68 billion. Coca-Cola had a net margin of 23.42% and a return on equity of 42.50%. Coca-Cola’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.45 EPS. Analysts forecast that The Coca-Cola Company will post 2.81 earnings per share for the current year.

Coca-Cola Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were paid a $0.485 dividend. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.46. The ex-dividend date was Thursday, March 14th. This represents a $1.94 annualized dividend and a dividend yield of 3.14%. Coca-Cola’s dividend payout ratio is presently 78.23%.

Insider Transactions at Coca-Cola

In other news, EVP Nancy Quan sold 57,368 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total value of $3,491,990.16. Following the completion of the sale, the executive vice president now owns 223,330 shares in the company, valued at approximately $13,594,097.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Beatriz R. Perez sold 52,300 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $60.00, for a total transaction of $3,138,000.00. Following the completion of the transaction, the executive vice president now owns 143,383 shares in the company, valued at $8,602,980. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Nancy Quan sold 57,368 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total transaction of $3,491,990.16. Following the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $13,594,097.10. The disclosure for this sale can be found here. Insiders sold a total of 375,407 shares of company stock worth $22,795,742 in the last quarter. 0.97% of the stock is currently owned by corporate insiders.

Coca-Cola Company Profile

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.