The Coca-Cola Company (NYSE:KO) Shares Sold by Waldron Private Wealth LLC

Waldron Private Wealth LLC lowered its stake in The Coca-Cola Company (NYSE:KO) by 1.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 62,392 shares of the company’s stock after selling 1,218 shares during the quarter. Waldron Private Wealth LLC’s holdings in Coca-Cola were worth $4,003,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Tidemark LLC bought a new position in Coca-Cola during the 4th quarter worth approximately $26,000. New Millennium Group LLC bought a new position in Coca-Cola during the 2nd quarter worth approximately $26,000. Private Wealth Management Group LLC bought a new position in Coca-Cola during the 4th quarter worth approximately $27,000. Redmont Wealth Advisors LLC bought a new position in Coca-Cola during the 1st quarter worth approximately $28,000. Finally, ESL Trust Services LLC bought a new position in Coca-Cola during the 1st quarter worth approximately $28,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

KO has been the topic of a number of research analyst reports. Wells Fargo & Company increased their target price on Coca-Cola from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Truist Financial raised their price target on Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Bank of America raised their price target on Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Citigroup raised their price target on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, Barclays raised their price target on Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Four research 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.73.

Coca-Cola Price Performance

Shares of KO stock traded up $0.42 during mid-day trading on Friday, hitting $72.47. 18,624,227 shares of the stock traded hands, compared to its average volume of 13,806,061. The Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $72.57. The firm has a market cap of $312.34 billion, a price-to-earnings ratio of 28.99, a price-to-earnings-growth ratio of 4.05 and a beta of 0.59. The company’s 50-day simple moving average is $66.66 and its 200-day simple moving average is $63.13. 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 issued its quarterly earnings results 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 company had revenue of $12.40 billion for the quarter, compared to analysts’ expectations of $11.78 billion. During the same period last year, the firm earned $0.78 EPS. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, equities research analysts expect that The Coca-Cola Company will post 2.85 earnings per share 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 issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date of this dividend is Friday, September 13th. Coca-Cola’s payout ratio is 77.60%.

Insider Buying and Selling

In other Coca-Cola news, insider Nikolaos Koumettis sold 80,891 shares of Coca-Cola stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $62.34, for a total transaction of $5,042,744.94. Following the transaction, the insider now owns 218,880 shares of the company’s stock, valued at approximately $13,644,979.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Nikolaos Koumettis sold 80,891 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $62.34, for a total value of $5,042,744.94. Following the transaction, the insider now directly owns 218,880 shares of the company’s stock, valued at $13,644,979.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Nancy Quan sold 19,304 shares of Coca-Cola stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $63.44, for a total value of $1,224,645.76. Following the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $14,168,055.20. The disclosure for this sale can be found here. Insiders have sold 1,074,910 shares of company stock worth $585,972,318 in the last three months. 0.97% of the stock is currently owned by insiders.

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.