Park Place Capital Corp Sells 1,402 Shares of The Coca-Cola Company (NYSE:KO)

Park Place Capital Corp cut its position in shares of The Coca-Cola Company (NYSE:KO) by 5.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 24,365 shares of the company’s stock after selling 1,402 shares during the quarter. Park Place Capital Corp’s holdings in Coca-Cola were worth $1,491,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of KO. Morgan Stanley grew its stake in Coca-Cola by 2.5% in the third quarter. Morgan Stanley now owns 80,448,083 shares of the company’s stock valued at $4,503,484,000 after purchasing an additional 1,950,146 shares in the last quarter. Norges Bank bought a new position in Coca-Cola in the fourth quarter valued at approximately $2,808,056,000. Price T Rowe Associates Inc. MD grew its stake in Coca-Cola by 7.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 40,564,179 shares of the company’s stock valued at $2,390,448,000 after purchasing an additional 2,893,061 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Coca-Cola by 5.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 15,171,216 shares of the company’s stock valued at $894,028,000 after purchasing an additional 814,779 shares in the last quarter. Finally, Vontobel Asset Management Inc. grew its stake in Coca-Cola by 2.7% in the fourth quarter. Vontobel Asset Management Inc. now owns 14,337,691 shares of the company’s stock valued at $890,866,000 after purchasing an additional 378,447 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, EVP Monica Howard Douglas sold 8,874 shares of Coca-Cola stock in a transaction on Friday, May 10th. The stock was sold at an average price of $63.31, for a total value of $561,812.94. Following the completion of the transaction, the executive vice president now directly owns 33,638 shares of the company’s stock, valued at approximately $2,129,621.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Monica Howard Douglas sold 8,874 shares of Coca-Cola stock in a transaction on Friday, May 10th. The stock was sold at an average price of $63.31, for a total value of $561,812.94. Following the transaction, the executive vice president now owns 33,638 shares in the company, valued at approximately $2,129,621.78. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Henrique Braun sold 57,298 shares of Coca-Cola stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $63.08, for a total value of $3,614,357.84. Following the completion of the transaction, the executive vice president now owns 52,466 shares in the company, valued at approximately $3,309,555.28. The disclosure for this sale can be found here. Insiders sold 223,665 shares of company stock valued at $13,995,465 in the last three months. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

NYSE:KO traded down $0.37 during mid-day trading on Monday, hitting $63.28. 10,016,643 shares of the stock were exchanged, compared to its average volume of 13,101,016. The stock has a market capitalization of $272.61 billion, a price-to-earnings ratio of 25.33, a price-to-earnings-growth ratio of 3.60 and a beta of 0.59. The firm’s 50-day simple moving average is $62.72 and its 200 day simple moving average is $60.78. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 1.04. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $64.36.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.02. The business had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $11.01 billion. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the firm posted $0.68 EPS. As a group, equities analysts anticipate that The Coca-Cola Company will post 2.82 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a $0.485 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.94 annualized dividend and a yield of 3.07%. Coca-Cola’s dividend payout ratio is presently 77.60%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on KO. JPMorgan Chase & Co. raised their price target on Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. BNP Paribas started coverage on Coca-Cola in a research report on Monday, June 24th. They issued an “outperform” rating and a $72.00 price objective for the company. UBS Group raised their price objective on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. StockNews.com cut Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, June 14th. Finally, Barclays raised their price objective on Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $68.83.

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.