James Quincey Sells 42,397 Shares of The Coca-Cola Company (NYSE:KO) Stock

The Coca-Cola Company (NYSE:KO) CEO James Quincey sold 42,397 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $70.02, for a total value of $2,968,637.94. Following the completion of the sale, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at $30,987,070.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

James Quincey also recently made the following trade(s):

• On Wednesday, August 21st, James Quincey sold 102,533 shares of Coca-Cola stock. The shares were sold at an average price of $70.02, for a total value of $7,179,360.66.

Coca-Cola Stock Performance

Shares of NYSE KO opened at $71.49 on Wednesday. The Coca-Cola Company has a 1 year low of $51.55 and a 1 year high of $71.53. The firm has a market cap of $307.98 billion, a P/E ratio of 28.60, a PEG ratio of 3.80 and a beta of 0.59. The stock has a fifty day moving average price of $65.91 and a two-hundred day moving average price of $62.80. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.03. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The business had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.78 billion. During the same quarter last year, the business posted $0.78 earnings per share. The company’s quarterly revenue was up 3.3% on a year-over-year basis. Research analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date is Friday, September 13th. Coca-Cola’s payout ratio is 77.60%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its stake in Coca-Cola by 21.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock valued at $3,016,023,000 after buying an additional 8,733,326 shares in the last quarter. Norges Bank acquired a new stake in shares of Coca-Cola during the fourth quarter valued at approximately $2,808,056,000. Legal & General Group Plc boosted its stake in Coca-Cola by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 38,701,876 shares of the company’s stock worth $2,463,373,000 after purchasing an additional 1,084,475 shares during the period. Truist Financial Corp boosted its stake in Coca-Cola by 1.1% in the 2nd quarter. Truist Financial Corp now owns 16,362,598 shares of the company’s stock worth $1,041,479,000 after purchasing an additional 177,241 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Coca-Cola by 5.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 15,171,216 shares of the company’s stock worth $894,028,000 after purchasing an additional 814,779 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on KO. Barclays upped their target price on Coca-Cola from $69.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Citigroup upped their target price on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. StockNews.com lowered Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Argus upped their target price on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, May 22nd. Finally, Evercore ISI upped their target price on Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Coca-Cola has an average rating of “Moderate Buy” and an average target price of $70.73.

About Coca-Cola

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.