Cornerstone Planning Group LLC Has $119,000 Stock Holdings in The Coca-Cola Company (NYSE:KO)

Cornerstone Planning Group LLC lowered its position in shares of The Coca-Cola Company (NYSE:KO) by 41.3% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,820 shares of the company’s stock after selling 1,282 shares during the quarter. Cornerstone Planning Group LLC’s holdings in Coca-Cola were worth $119,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Pinnacle Financial Partners Inc raised its position in shares of Coca-Cola by 0.5% in the third quarter. Pinnacle Financial Partners Inc now owns 269,438 shares of the company’s stock valued at $19,362,000 after buying an additional 1,229 shares in the last quarter. MQS Management LLC bought a new position in Coca-Cola during the 3rd quarter worth $1,194,000. Community Bank & Trust Waco Texas raised its holdings in Coca-Cola by 3.9% in the 3rd quarter. Community Bank & Trust Waco Texas now owns 31,545 shares of the company’s stock valued at $2,267,000 after acquiring an additional 1,174 shares in the last quarter. Empower Advisory Group LLC lifted its position in shares of Coca-Cola by 2.5% during the 3rd quarter. Empower Advisory Group LLC now owns 1,106,778 shares of the company’s stock valued at $79,533,000 after acquiring an additional 26,475 shares during the period. Finally, Carrera Capital Advisors acquired a new stake in shares of Coca-Cola during the 3rd quarter worth $3,069,000. Institutional investors own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Morgan Stanley dropped their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Royal Bank of Canada boosted their target price on shares of Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Barclays reduced their price target on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Truist Financial boosted their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, StockNews.com downgraded Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Coca-Cola currently has an average rating of “Moderate Buy” and an average target price of $71.80.

Insider Activity

In related news, CEO James Quincey sold 102,533 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total value of $7,179,360.66. Following the sale, the chief executive officer now directly owns 442,546 shares in the company, valued at $30,987,070.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO James Quincey sold 102,533 shares of the business’s stock in a transaction on 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 in the company, valued at $30,987,070.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Nancy Quan sold 18,484 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 303,748 shares of company stock valued at $20,677,431. Company insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

NYSE:KO opened at $63.04 on Wednesday. The stock’s 50-day moving average is $69.18 and its 200-day moving average is $66.53. The Coca-Cola Company has a 1-year low of $56.70 and a 1-year high of $73.53. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The stock has a market cap of $271.56 billion, a P/E ratio of 26.12, a price-to-earnings-growth ratio of 3.85 and a beta of 0.61.

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

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a $0.485 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.08%. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

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.