McGlone Suttner Wealth Management Inc. Lowers Holdings in The Coca-Cola Company (NYSE:KO)

McGlone Suttner Wealth Management Inc. trimmed its position in shares of The Coca-Cola Company (NYSE:KO) by 5.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 15,233 shares of the company’s stock after selling 883 shares during the quarter. McGlone Suttner Wealth Management Inc.’s holdings in Coca-Cola were worth $1,095,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Swedbank AB purchased a new stake in shares of Coca-Cola during the 1st quarter valued at about $102,604,000. BDF Gestion purchased a new stake in Coca-Cola during the 2nd quarter valued at $7,421,000. Duality Advisers LP lifted its holdings in shares of Coca-Cola by 191.1% during the 1st quarter. Duality Advisers LP now owns 111,851 shares of the company’s stock valued at $6,843,000 after buying an additional 73,434 shares during the period. TD Asset Management Inc boosted its stake in shares of Coca-Cola by 0.7% in the 1st quarter. TD Asset Management Inc now owns 2,935,238 shares of the company’s stock worth $179,578,000 after buying an additional 20,048 shares during the last quarter. Finally, New Mexico Educational Retirement Board grew its holdings in shares of Coca-Cola by 11.6% in the first quarter. New Mexico Educational Retirement Board now owns 226,020 shares of the company’s stock worth $14,013,000 after acquiring an additional 23,500 shares during the period. 70.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on KO. Citigroup raised their target price on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Bank of America lifted their price target on shares of Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Barclays lifted their target price on Coca-Cola from $70.00 to $74.00 and gave the company an “overweight” rating in a research report on Friday. Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Finally, Royal Bank of Canada boosted their price objective on Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $71.33.

Coca-Cola Price Performance

NYSE KO traded up $0.32 on Friday, reaching $69.57. The company had a trading volume of 8,786,318 shares, compared to its average volume of 13,216,886. The stock has a market capitalization of $299.70 billion, a PE ratio of 27.83, a price-to-earnings-growth ratio of 3.92 and a beta of 0.60. The Coca-Cola Company has a 12 month low of $52.43 and a 12 month high of $73.53. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The firm’s 50 day moving average price is $70.51 and its 200 day moving average price is $65.43.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The firm had revenue of $12.40 billion during the quarter, compared to analyst estimates of $11.78 billion. During the same period last year, the firm posted $0.78 earnings per share. Coca-Cola’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, equities 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 declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were paid a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date was Friday, September 13th. Coca-Cola’s dividend payout ratio is currently 77.60%.

Insider Buying and Selling at Coca-Cola

In related news, CEO James Quincey sold 102,533 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total value of $7,179,360.66. Following the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $30,987,070.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the transaction, the chief executive officer now directly owns 442,546 shares in the company, valued at $30,987,070.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Nancy Quan sold 19,304 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $14,507,516.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 376,096 shares of company stock valued at $25,982,352 in the last quarter. 0.97% of the stock is owned by insiders.

Coca-Cola 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.