The Coca-Cola Company (NYSE:KO) Shares Sold by Sather Financial Group Inc

Sather Financial Group Inc decreased its holdings in The Coca-Cola Company (NYSE:KO) by 92.4% in the second quarter, Holdings Channel reports. The firm owned 21,332 shares of the company’s stock after selling 258,800 shares during the period. Sather Financial Group Inc’s holdings in Coca-Cola were worth $1,358,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Joule Financial LLC raised its stake 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 acquiring an additional 167 shares during the last quarter. Community Bank & Trust Waco Texas raised its stake 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 acquiring an additional 168 shares during the last quarter. Goelzer Investment Management Inc. raised its stake 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 acquiring an additional 169 shares during the last quarter. Premier Path Wealth Partners LLC raised its stake 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 acquiring an additional 170 shares during the last quarter. Finally, Richardson Financial Services Inc. raised its stake 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 acquiring an additional 170 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on KO shares. TD Cowen raised their target price on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. BNP Paribas began coverage on Coca-Cola in a research note on Monday, June 24th. They set an “outperform” rating and a $72.00 price objective for the company. StockNews.com lowered Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Bank of America lifted their price objective on Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Finally, UBS Group lifted their price objective on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $70.20.

Insider Buying and Selling

In related news, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $925.00, for a total value of $553,722,575.00. Following the sale, the insider now directly owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Nancy Quan sold 19,304 shares of Coca-Cola stock in a transaction dated 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 sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $14,168,055.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola stock in a transaction dated Friday, July 5th. The stock was 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 owns 1,883,546 shares in the company, valued at $1,742,280,050. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,014,029 shares of company stock worth $581,682,074. Insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

Shares of Coca-Cola stock traded up $0.44 on Friday, hitting $69.77. The company’s stock had a trading volume of 11,827,571 shares, compared to its average volume of 12,990,292. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08. The Coca-Cola Company has a 1 year low of $51.55 and a 1 year high of $70.13. The firm has a fifty day moving average price of $65.74 and a 200-day moving average price of $62.69. The company has a market capitalization of $300.57 billion, a price-to-earnings ratio of 27.91, 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 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 firm had revenue of $12.40 billion during the quarter, compared to analyst estimates of $11.78 billion. During the same quarter in the previous year, the business earned $0.78 EPS. Coca-Cola’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, 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. Investors of record on Friday, September 13th will be issued a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 2.78%. The ex-dividend date is Friday, September 13th. Coca-Cola’s payout ratio is 77.60%.

Coca-Cola 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.