The Coca-Cola Company (NYSE:KO) Shares Sold by AGF Management Ltd.

AGF Management Ltd. cut its position in The Coca-Cola Company (NYSE:KO) by 1.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 278,945 shares of the company’s stock after selling 2,759 shares during the period. AGF Management Ltd.’s holdings in Coca-Cola were worth $17,755,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. New Millennium Group LLC acquired a new stake in shares of Coca-Cola in the second quarter worth approximately $26,000. Tidemark LLC acquired a new stake in shares of Coca-Cola in the fourth quarter worth approximately $26,000. ESL Trust Services LLC purchased a new position in Coca-Cola during the first quarter worth approximately $28,000. Redmont Wealth Advisors LLC purchased a new position in Coca-Cola during the first quarter worth approximately $28,000. Finally, Private Wealth Management Group LLC purchased a new position in Coca-Cola during the fourth quarter worth approximately $27,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Coca-Cola

In other news, major shareholder Cola Co Coca sold 598,619 shares of the company’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the completion of the transaction, the insider now directly owns 1,883,546 shares of the company’s stock, valued at approximately $1,742,280,050. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Bruno Pietracci sold 38,653 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $69.01, for a total value of $2,667,443.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Cola Co Coca sold 598,619 shares of the business’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $925.00, for a total value of $553,722,575.00. Following the completion of the sale, the insider now directly owns 1,883,546 shares of the company’s stock, valued at $1,742,280,050. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,055,606 shares of company stock valued at $584,747,672. 0.97% of the stock is currently owned by corporate insiders.

Coca-Cola Price Performance

KO stock opened at $71.06 on Thursday. The Coca-Cola Company has a 12-month low of $51.55 and a 12-month high of $73.53. The company has a market capitalization of $306.10 billion, a PE ratio of 28.42, a P/E/G ratio of 3.94 and a beta of 0.60. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The business’s fifty day moving average price is $67.97 and its 200 day moving average price is $63.78.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, topping 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 firm had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.78 billion. During the same period in the previous year, the firm posted $0.78 EPS. Coca-Cola’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, sell-side analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a dividend of $0.485 per share. The ex-dividend date is Friday, September 13th. This represents a $1.94 annualized dividend and a yield of 2.73%. Coca-Cola’s payout ratio is 77.60%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on KO shares. Barclays lifted their price objective on Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. lifted their price objective on Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Bank of America lifted their price objective on Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Cfra reiterated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Finally, StockNews.com downgraded Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target 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.