Insider Selling: The Coca-Cola Company (NYSE:KO) CEO Sells 92,028 Shares of Stock

The Coca-Cola Company (NYSE:KO) CEO James Quincey sold 92,028 shares of the company’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $57.15, for a total value of $5,259,400.20. Following the transaction, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at $25,291,503.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

James Quincey also recently made the following trade(s):

• On Tuesday, October 17th, James Quincey sold 92,029 shares of Coca-Cola stock. The stock was sold at an average price of $53.86, for a total value of $4,956,681.94.
• On Monday, September 18th, James Quincey sold 92,029 shares of Coca-Cola stock. The stock was sold at an average price of $58.09, for a total value of $5,345,964.61.

Coca-Cola Stock Up 0.4 %

Coca-Cola stock traded up $0.25 during midday trading on Monday, hitting $57.51. The stock had a trading volume of 6,188,879 shares, compared to its average volume of 13,558,306. The company has a current ratio of 1.14, a quick ratio of 0.97 and a debt-to-equity ratio of 1.23. The stock has a market cap of $248.64 billion, a P/E ratio of 22.98, a P/E/G ratio of 3.46 and a beta of 0.59. The Coca-Cola Company has a 12 month low of $51.55 and a 12 month high of $64.99. The business has a fifty day moving average price of $56.02 and a 200 day moving average price of $59.30.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, October 24th. The company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.69 by $0.05. The company had revenue of $11.95 billion during the quarter, compared to analyst estimates of $11.45 billion. Coca-Cola had a return on equity of 42.44% and a net margin of 23.92%. Research analysts predict that The Coca-Cola Company will post 2.68 EPS for the current year.

Coca-Cola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 3.20%. The ex-dividend date of this dividend is Thursday, November 30th. Coca-Cola’s dividend payout ratio (DPR) is presently 73.90%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on KO. Royal Bank of Canada boosted their target price on Coca-Cola from $69.00 to $70.00 in a report on Thursday, July 27th. Morgan Stanley reduced their price objective on Coca-Cola from $70.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, October 25th. Jefferies Financial Group initiated coverage on Coca-Cola in a research note on Monday, November 13th. They set a “hold” rating and a $64.00 price objective for the company. Citigroup reduced their price objective on Coca-Cola from $74.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, October 11th. Finally, StockNews.com downgraded Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, October 13th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $66.20.

Hedge Funds Weigh In On Coca-Cola

Hedge funds and other institutional investors have recently made changes to their positions in the business. Pacific Wealth Strategies Group Inc. boosted its position in shares of Coca-Cola by 12.8% during the first quarter. Pacific Wealth Strategies Group Inc. now owns 15,800 shares of the company’s stock worth $980,000 after buying an additional 1,788 shares during the period. Mirabella Financial Services LLP acquired a new position in shares of Coca-Cola during the second quarter worth approximately $1,116,000. Providence Capital Advisors LLC lifted its position in Coca-Cola by 1.4% in the second quarter. Providence Capital Advisors LLC now owns 43,642 shares of the company’s stock worth $2,628,000 after purchasing an additional 620 shares during the period. KMG Fiduciary Partners LLC lifted its position in Coca-Cola by 10.6% in the second quarter. KMG Fiduciary Partners LLC now owns 160,172 shares of the company’s stock worth $9,646,000 after purchasing an additional 15,389 shares during the period. Finally, Avion Wealth lifted its position in Coca-Cola by 73.9% in the second quarter. Avion Wealth now owns 781 shares of the company’s stock worth $46,000 after purchasing an additional 332 shares during the period. 68.96% of the stock is currently owned by institutional investors and hedge funds.

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.