The Coca-Cola Company (NYSE:KO) Shares Sold by Ascent Group LLC

Ascent Group LLC lowered its stake in shares of The Coca-Cola Company (NYSE:KO) by 0.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 85,847 shares of the company’s stock after selling 159 shares during the period. Ascent Group LLC’s holdings in Coca-Cola were worth $5,464,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Swedbank AB purchased a new stake in shares of Coca-Cola during the 1st quarter valued at approximately $102,604,000. Angeles Investment Advisors LLC raised its position in Coca-Cola by 2.4% in the fourth quarter. Angeles Investment Advisors LLC now owns 15,812 shares of the company’s stock valued at $932,000 after purchasing an additional 374 shares during the period. Wealth Quarterback LLC lifted its stake in shares of Coca-Cola by 3.2% in the 4th quarter. Wealth Quarterback LLC now owns 17,454 shares of the company’s stock valued at $1,029,000 after purchasing an additional 537 shares during the last quarter. BDF Gestion purchased a new position in shares of Coca-Cola during the 2nd quarter worth $7,421,000. Finally, Duality Advisers LP increased its position 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 worth $6,843,000 after purchasing an additional 73,434 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Trading Up 0.5 %

NYSE:KO opened at $71.79 on Friday. The Coca-Cola Company has a 12-month low of $51.55 and a 12-month high of $73.53. The firm has a market cap of $309.27 billion, a PE ratio of 28.72, a price-to-earnings-growth ratio of 3.97 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 stock has a fifty day moving average price of $69.82 and a 200 day moving average price of $64.75.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) 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 EPS. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. Sell-side analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date is Friday, September 13th. Coca-Cola’s dividend payout ratio is presently 77.60%.

Analyst Ratings Changes

A number of research firms have commented on KO. Citigroup upped their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Cfra reiterated a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Truist Financial boosted their target price on Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, Royal Bank of Canada raised their price target on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.07.

Insider Activity

In related news, EVP Nancy Quan sold 18,482 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $68.95, for a total transaction of $1,274,333.90. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at $15,398,603.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Nancy Quan sold 18,482 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $68.95, for a total transaction of $1,274,333.90. Following the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,398,603.50. The sale 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 company’s stock in a transaction that occurred on 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 transaction, 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 three months, insiders have sold 974,715 shares of company stock worth $579,704,927. 0.97% of the stock is currently owned by corporate insiders.

Coca-Cola Company 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.