Modera Wealth Management LLC Sells 18,528 Shares of The Coca-Cola Company (NYSE:KO)

Modera Wealth Management LLC lowered its position in The Coca-Cola Company (NYSE:KO) by 8.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 198,090 shares of the company’s stock after selling 18,528 shares during the period. Modera Wealth Management LLC’s holdings in Coca-Cola were worth $12,608,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in Coca-Cola in the fourth quarter worth $2,808,056,000. Price T Rowe Associates Inc. MD grew its position in Coca-Cola by 21.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock worth $3,016,023,000 after acquiring an additional 8,733,326 shares in the last quarter. Fisher Asset Management LLC grew its position in Coca-Cola by 11,138.6% in the fourth quarter. Fisher Asset Management LLC now owns 4,977,819 shares of the company’s stock worth $293,343,000 after acquiring an additional 4,933,527 shares in the last quarter. Pathstone Holdings LLC purchased a new position in Coca-Cola in the fourth quarter worth $193,342,000. Finally, Putnam Investments LLC grew its position in Coca-Cola by 32.8% in the fourth quarter. Putnam Investments LLC now owns 12,032,095 shares of the company’s stock worth $709,051,000 after acquiring an additional 2,973,234 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling

In related news, EVP Nancy Quan sold 18,484 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $15,968,095. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Nancy Quan sold 18,484 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $15,968,095. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO James Quincey sold 42,397 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $70.02, for a total transaction of $2,968,637.94. Following the completion of the transaction, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at $30,987,070.92. The disclosure for this sale can be found here. Insiders sold a total of 1,074,910 shares of company stock valued at $585,972,318 over the last three months. Corporate insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on KO. Barclays upped their target price on shares of Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. StockNews.com lowered shares of Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Bank of America upped their price target on shares of Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, Wells Fargo & Company upped their price target on shares of Coca-Cola from $70.00 to $73.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $70.73.

Coca-Cola Trading Up 0.6 %

Shares of NYSE:KO traded up $0.42 during midday trading on Friday, hitting $72.47. 18,398,818 shares of the stock traded hands, compared to its average volume of 13,073,931. The stock has a market capitalization of $312.20 billion, a PE ratio of 28.99, a P/E/G ratio of 3.80 and a beta of 0.59. The business’s 50 day moving average is $66.46 and its two-hundred day moving average is $63.01. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The Coca-Cola Company has a one year low of $51.55 and a one year high of $72.57.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.81 by $0.03. The firm had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.78 earnings per share. As a group, research analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend is Friday, September 13th. Coca-Cola’s payout ratio is currently 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.