James Quincey Sells 102,533 Shares of The Coca-Cola Company (NYSE:KO) Stock

The Coca-Cola Company (NYSE:KO) CEO James Quincey sold 102,533 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the transaction, the chief executive officer now owns 442,546 shares in the company, valued at $30,987,070.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Coca-Cola Price Performance

NYSE:KO traded up $0.14 during midday trading on Friday, hitting $69.47. 5,063,524 shares of the stock were exchanged, compared to its average volume of 12,948,808. The company has a market capitalization of $299.27 billion, a price-to-earnings ratio of 27.70, a P/E/G ratio of 3.80 and a beta of 0.59. The Coca-Cola Company has a one year low of $51.55 and a one year high of $70.13. The business has a 50-day moving average price of $65.60 and a two-hundred day moving average price of $62.62. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.81 by $0.03. The business had revenue of $12.40 billion for the quarter, compared to analysts’ expectations of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. Coca-Cola’s revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.78 earnings per share. Sell-side analysts predict 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 given a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.79%. Coca-Cola’s payout ratio is presently 77.60%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on KO. StockNews.com downgraded Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Wells Fargo & Company lifted their target price on Coca-Cola from $70.00 to $73.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Bank of America lifted their target price on Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Royal Bank of Canada boosted their price objective on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Finally, Truist Financial boosted their price objective on Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $70.20.

Hedge Funds Weigh In On Coca-Cola

Several institutional investors have recently added to or reduced their stakes in KO. Tidemark LLC bought a new position in shares of Coca-Cola in the fourth quarter worth approximately $26,000. New Millennium Group LLC bought a new position in Coca-Cola during the second quarter valued at $26,000. Private Wealth Management Group LLC bought a new stake in shares of Coca-Cola in the 4th quarter worth about $27,000. Quarry LP bought a new stake in Coca-Cola during the 2nd quarter valued at about $27,000. Finally, Redmont Wealth Advisors LLC purchased a new position in Coca-Cola during the 1st quarter valued at about $28,000. Institutional investors own 70.26% of the company’s stock.

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.