Butensky & Cohen Financial Security Inc. Sells 4,353 Shares of The Coca-Cola Company (NYSE:KO)

Butensky & Cohen Financial Security Inc. reduced its position in The Coca-Cola Company (NYSE:KO) by 6.2% during the second quarter, Holdings Channel reports. The institutional investor owned 66,420 shares of the company’s stock after selling 4,353 shares during the quarter. Butensky & Cohen Financial Security Inc.’s holdings in Coca-Cola were worth $4,000,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of KO. Pacific Wealth Strategies Group Inc. raised its position in shares of Coca-Cola by 12.8% in the 1st quarter. Pacific Wealth Strategies Group Inc. now owns 15,800 shares of the company’s stock valued at $980,000 after purchasing an additional 1,788 shares during the last quarter. Arabesque Asset Management Ltd raised its position in shares of Coca-Cola by 104.1% in the 4th quarter. Arabesque Asset Management Ltd now owns 73,354 shares of the company’s stock valued at $4,666,000 after purchasing an additional 37,412 shares during the last quarter. Janney Capital Management LLC raised its position in shares of Coca-Cola by 13.5% in the 1st quarter. Janney Capital Management LLC now owns 50,687 shares of the company’s stock valued at $3,144,000 after purchasing an additional 6,020 shares during the last quarter. Procyon Advisors LLC raised its position in shares of Coca-Cola by 26.1% in the 1st quarter. Procyon Advisors LLC now owns 13,313 shares of the company’s stock valued at $826,000 after purchasing an additional 2,758 shares during the last quarter. Finally, National Pension Service raised its position in shares of Coca-Cola by 2.3% in the 4th quarter. National Pension Service now owns 5,950,675 shares of the company’s stock valued at $378,522,000 after purchasing an additional 134,244 shares during the last quarter. 68.96% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Coca-Cola news, SVP Beatriz R. Perez sold 50,000 shares of Coca-Cola stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $62.66, for a total transaction of $3,133,000.00. Following the sale, the senior vice president now owns 143,383 shares of the company’s stock, valued at approximately $8,984,378.78. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, SVP Beatriz R. Perez sold 50,000 shares of Coca-Cola stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $62.66, for a total transaction of $3,133,000.00. Following the transaction, the senior vice president now owns 143,383 shares in the company, valued at approximately $8,984,378.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO John Murphy sold 156,290 shares of Coca-Cola stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $62.10, for a total value of $9,705,609.00. Following the transaction, the chief financial officer now owns 228,830 shares in the company, valued at approximately $14,210,343. The disclosure for this sale can be found here. Insiders have sold a total of 227,364 shares of company stock valued at $14,122,016 in the last 90 days. 1.00% of the stock is owned by insiders.

Coca-Cola Price Performance

Coca-Cola stock opened at $57.92 on Monday. The company’s fifty day moving average price is $60.49 and its 200 day moving average price is $61.25. The Coca-Cola Company has a 1 year low of $54.01 and a 1 year high of $64.99. The stock has a market capitalization of $250.47 billion, a P/E ratio of 23.84, a P/E/G ratio of 3.43 and a beta of 0.55. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.95 and a current ratio of 1.14.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Wednesday, July 26th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. Coca-Cola had a net margin of 23.81% and a return on equity of 43.06%. The firm had revenue of $12 billion for the quarter, compared to analysts’ expectations of $11.74 billion. During the same quarter last year, the company earned $0.70 EPS. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. As a group, equities research analysts anticipate that The Coca-Cola Company will post 2.63 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be paid a dividend of $0.46 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.84 annualized dividend and a yield of 3.18%. Coca-Cola’s dividend payout ratio (DPR) is presently 75.72%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on KO. Wedbush raised their price target on shares of Coca-Cola from $70.00 to $71.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. StockNews.com began coverage on shares of Coca-Cola in a research report on Thursday, August 17th. They set a “buy” rating for the company. Barclays raised their price target on shares of Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, July 28th. HSBC reduced their price target on shares of Coca-Cola from $77.00 to $74.00 in a research report on Wednesday, June 7th. Finally, JPMorgan Chase & Co. raised their price target on shares of Coca-Cola from $67.00 to $71.00 and gave the stock an “overweight” rating in a research report on Thursday, July 27th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $68.33.

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.