The Coca-Cola Company (NYSE:KO) Shares Sold by WESPAC Advisors SoCal LLC

WESPAC Advisors SoCal LLC reduced its position in shares of The Coca-Cola Company (NYSE:KO) by 6.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 65,630 shares of the company’s stock after selling 4,568 shares during the period. WESPAC Advisors SoCal LLC’s holdings in Coca-Cola were worth $4,177,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Joule Financial LLC increased its holdings in Coca-Cola by 3.6% in the 2nd quarter. Joule Financial LLC now owns 4,867 shares of the company’s stock worth $312,000 after purchasing an additional 167 shares in the last quarter. Community Bank & Trust Waco Texas increased its holdings in Coca-Cola by 0.6% in the 1st quarter. Community Bank & Trust Waco Texas now owns 30,262 shares of the company’s stock worth $1,851,000 after purchasing an additional 168 shares in the last quarter. Goelzer Investment Management Inc. increased its holdings in Coca-Cola by 1.8% in the 4th quarter. Goelzer Investment Management Inc. now owns 9,681 shares of the company’s stock worth $571,000 after purchasing an additional 169 shares in the last quarter. Premier Path Wealth Partners LLC increased its holdings in Coca-Cola by 1.4% in the 1st quarter. Premier Path Wealth Partners LLC now owns 12,009 shares of the company’s stock worth $729,000 after purchasing an additional 170 shares in the last quarter. Finally, Richardson Financial Services Inc. increased its holdings in Coca-Cola by 4.8% in the 1st quarter. Richardson Financial Services Inc. now owns 3,697 shares of the company’s stock worth $226,000 after purchasing an additional 170 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Bank of America upped their target price on Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. BNP Paribas assumed coverage on Coca-Cola in a research report on Monday, June 24th. They issued an “outperform” rating and a $72.00 price target on the stock. Royal Bank of Canada upped their price target on Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Truist Financial upped their price target 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, Morgan Stanley upped their price target on Coca-Cola from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, June 10th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Coca-Cola has an average rating of “Moderate Buy” and an average price target of $70.20.

Insiders Place Their Bets

In other Coca-Cola news, EVP Nancy Quan sold 19,304 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $63.44, for a total value of $1,224,645.76. Following the transaction, the executive vice president now owns 223,330 shares in the company, valued at $14,168,055.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Nancy Quan sold 19,304 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $63.44, for a total value of $1,224,645.76. Following the completion of the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $14,168,055.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Nikolaos Koumettis sold 80,891 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $62.34, for a total value of $5,042,744.94. Following the completion of the sale, the insider now directly owns 218,880 shares of the company’s stock, valued at $13,644,979.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 911,496 shares of company stock worth $574,502,713. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Trading Down 0.3 %

Shares of Coca-Cola stock traded down $0.24 on Thursday, hitting $69.33. 12,508,569 shares of the company’s stock traded hands, compared to its average volume of 12,997,473. The Coca-Cola Company has a one year low of $51.55 and a one year high of $70.13. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The company has a fifty day moving average of $65.60 and a two-hundred day moving average of $62.62. The company has a market capitalization of $298.67 billion, a price-to-earnings ratio of 27.73, a price-to-earnings-growth ratio of 3.80 and a beta of 0.59.

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

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a $0.485 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.94 annualized dividend and a yield of 2.80%. Coca-Cola’s payout ratio is currently 77.60%.

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.