The Coca-Cola Company (NYSE:KO) EVP Sells $2,530,217.52 in Stock

The Coca-Cola Company (NYSE:KO) EVP Nancy Quan sold 37,787 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $66.96, for a total transaction of $2,530,217.52. Following the completion of the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $14,954,176.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Nancy Quan also recently made the following trade(s):

• On Wednesday, July 17th, Nancy Quan sold 19,304 shares of Coca-Cola stock. The stock was sold at an average price of $64.96, for a total value of $1,253,987.84.
• On Tuesday, June 11th, Nancy Quan sold 19,304 shares of Coca-Cola stock. The shares were sold at an average price of $63.44, for a total transaction of $1,224,645.76.

Coca-Cola Price Performance

Shares of Coca-Cola stock traded up $0.85 on Tuesday, hitting $67.68. The company’s stock had a trading volume of 13,181,045 shares, compared to its average volume of 12,893,320. The company has a market capitalization of $291.56 billion, a P/E ratio of 26.89, a price-to-earnings-growth ratio of 3.75 and a beta of 0.59. The Coca-Cola Company has a 52-week low of $51.55 and a 52-week high of $67.83. The firm has a fifty day moving average price of $63.56 and a 200-day moving average price of $61.56. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39.

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, beating the consensus estimate of $0.81 by $0.03. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The company had revenue of $12.40 billion for the quarter, compared to the consensus estimate of $11.78 billion. During the same quarter in the prior year, the firm earned $0.78 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, equities research analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend is Friday, September 13th. Coca-Cola’s payout ratio is 77.60%.

Hedge Funds Weigh In On Coca-Cola

A number of institutional investors have recently made changes to their positions in KO. Tidemark LLC acquired a new position in Coca-Cola in the 4th quarter valued at about $26,000. New Millennium Group LLC purchased a new stake in shares of Coca-Cola during the second quarter worth about $26,000. Private Wealth Management Group LLC purchased a new stake in shares of Coca-Cola during the fourth quarter worth about $27,000. Redmont Wealth Advisors LLC acquired a new position in shares of Coca-Cola in the first quarter valued at approximately $28,000. Finally, ESL Trust Services LLC purchased a new position in shares of Coca-Cola during the first quarter valued at approximately $28,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

KO has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft boosted their target price on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. raised their price objective on shares of Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. TD Cowen boosted their target price on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Royal Bank of Canada raised their price target on Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Finally, Bank of America upped their price objective on Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.20.

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.