The Coca-Cola Company (NYSE:KO) Insider Bruno Pietracci Sells 38,653 Shares

The Coca-Cola Company (NYSE:KO) insider Bruno Pietracci sold 38,653 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $69.01, for a total value of $2,667,443.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Coca-Cola Trading Down 1.8 %

NYSE:KO traded down $1.23 during trading hours on Monday, hitting $68.10. The company had a trading volume of 25,316,992 shares, compared to its average volume of 13,083,978. The Coca-Cola Company has a 52 week low of $51.55 and a 52 week high of $69.67. The company has a market capitalization of $293.50 billion, a PE ratio of 27.23, a price-to-earnings-growth ratio of 3.80 and a beta of 0.59. 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 stock has a 50-day moving average price of $64.00 and a 200 day moving average price of $61.78.

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

Coca-Cola Announces Dividend

The company 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 $0.485 dividend. 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 2.85%. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Analyst Ratings Changes

A number of analysts have weighed in on KO shares. TD Cowen increased their price target on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Morgan Stanley raised their price target on shares of Coca-Cola from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. Argus raised their price objective on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. Bank of America lifted their price target on shares of Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, BNP Paribas started coverage on shares of Coca-Cola in a report on Monday, June 24th. They issued an “outperform” rating and a $72.00 price target on the stock. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $70.20.

Hedge Funds Weigh In On Coca-Cola

Large investors have recently modified their holdings of the business. Elwood & Goetz Wealth Advisory Group LLC lifted its position in shares of Coca-Cola by 2.2% during the 2nd quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 6,871 shares of the company’s stock valued at $437,000 after acquiring an additional 149 shares during the last quarter. Drive Wealth Management LLC grew its stake in Coca-Cola by 1.6% in the second quarter. Drive Wealth Management LLC now owns 9,824 shares of the company’s stock valued at $630,000 after purchasing an additional 151 shares in the last quarter. Capital Advisors Ltd. LLC lifted its holdings in Coca-Cola by 4.4% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 3,631 shares of the company’s stock worth $231,000 after purchasing an additional 153 shares during the last quarter. Liberty Capital Management Inc. increased its stake in shares of Coca-Cola by 3.7% in the 2nd quarter. Liberty Capital Management Inc. now owns 4,319 shares of the company’s stock valued at $275,000 after purchasing an additional 155 shares during the last quarter. Finally, Azzad Asset Management Inc. ADV grew its position in shares of Coca-Cola by 0.4% in the 2nd quarter. Azzad Asset Management Inc. ADV now owns 42,407 shares of the company’s stock valued at $2,699,000 after buying an additional 160 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Company 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.