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

PSI Advisors LLC cut its position in The Coca-Cola Company (NYSE:KO) by 17.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,608 shares of the company’s stock after selling 335 shares during the quarter. PSI Advisors LLC’s holdings in Coca-Cola were worth $102,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in KO. Norges Bank purchased a new position in shares of Coca-Cola in the fourth quarter valued at $2,808,056,000. Price T Rowe Associates Inc. MD boosted its stake in Coca-Cola by 21.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock valued at $3,016,023,000 after acquiring an additional 8,733,326 shares during the last quarter. Fisher Asset Management LLC boosted its stake in Coca-Cola by 11,138.6% during the 4th quarter. Fisher Asset Management LLC now owns 4,977,819 shares of the company’s stock valued at $293,343,000 after acquiring an additional 4,933,527 shares during the last quarter. Pathstone Holdings LLC bought a new position in Coca-Cola during the 4th quarter valued at $193,342,000. Finally, Putnam Investments LLC boosted its stake in Coca-Cola by 32.8% during the 4th quarter. Putnam Investments LLC now owns 12,032,095 shares of the company’s stock valued at $709,051,000 after acquiring an additional 2,973,234 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Stock Performance

NYSE:KO opened at $69.33 on Friday. The Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $70.13. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The company has a 50-day moving average of $65.60 and a 200-day moving average of $62.62. The firm has a market cap 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 released its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.03. The business had revenue of $12.40 billion during 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 revenue was up 3.3% compared to the same quarter last year. During the same period last year, the company posted $0.78 EPS. Analysts forecast 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 paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date is Friday, September 13th. Coca-Cola’s dividend payout ratio is 77.60%.

Analyst Ratings Changes

A number of brokerages have weighed in on KO. JPMorgan Chase & Co. increased their target price on shares of Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Truist Financial increased their target price on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Argus increased their target price on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. UBS Group increased their target price on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Finally, StockNews.com cut shares of Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.20.

Insiders Place Their Bets

In other news, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola stock in a transaction on Friday, July 5th. The stock was sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the transaction, the insider now owns 1,883,546 shares in the company, valued at $1,742,280,050. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, major shareholder Cola Co Coca sold 598,619 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the transaction, the insider now directly owns 1,883,546 shares of the company’s stock, valued at $1,742,280,050. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $1,224,645.76. Following the completion of the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $14,168,055.20. The disclosure for this sale can be found here. In the last three months, 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 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.