Ingalls & Snyder LLC Sells 330 Shares of The Coca-Cola Company (NYSE:KO)

Ingalls & Snyder LLC trimmed its position in shares of The Coca-Cola Company (NYSE:KO) by 0.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 81,374 shares of the company’s stock after selling 330 shares during the quarter. Ingalls & Snyder LLC’s holdings in Coca-Cola were worth $5,179,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Patrick M Sweeney & Associates Inc. bought a new stake in Coca-Cola in the 4th quarter worth about $410,000. Beacon Pointe Advisors LLC lifted its position in shares of Coca-Cola by 24.7% during the 4th quarter. Beacon Pointe Advisors LLC now owns 450,523 shares of the company’s stock worth $26,549,000 after buying an additional 89,139 shares in the last quarter. Smart Money Group LLC boosted its stake in shares of Coca-Cola by 21.6% in the 4th quarter. Smart Money Group LLC now owns 4,932 shares of the company’s stock worth $291,000 after buying an additional 877 shares during the last quarter. Peddock Capital Advisors LLC grew its holdings in shares of Coca-Cola by 1.4% in the fourth quarter. Peddock Capital Advisors LLC now owns 31,837 shares of the company’s stock valued at $1,876,000 after acquiring an additional 443 shares in the last quarter. Finally, Focus Financial Network Inc. ADV purchased a new stake in shares of Coca-Cola during the fourth quarter valued at approximately $3,255,000. Institutional investors own 70.26% of the company’s stock.

Insider Activity at Coca-Cola

In other news, CEO James Quincey sold 102,533 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total value of $7,179,360.66. Following the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $30,987,070.92. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO James Quincey sold 102,533 shares of Coca-Cola stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the sale, the chief executive officer now owns 442,546 shares in the company, valued at approximately $30,987,070.92. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Nikolaos Koumettis sold 80,891 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $62.34, for a total transaction of $5,042,744.94. Following the completion of the transaction, the insider now owns 218,880 shares in the company, valued at $13,644,979.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,074,910 shares of company stock valued at $585,972,318. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Trading Up 0.6 %

Shares of KO stock opened at $72.47 on Friday. The stock has a market capitalization of $312.34 billion, a price-to-earnings ratio of 28.99, a PEG ratio of 4.05 and a beta of 0.59. The company’s fifty day simple moving average is $66.66 and its two-hundred day simple moving average is $63.13. The Coca-Cola Company has a 1 year low of $51.55 and a 1 year high of $72.57. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The company had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.78 billion. During the same period in the previous year, the company posted $0.78 EPS. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a $0.485 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.68%. Coca-Cola’s dividend payout ratio (DPR) is currently 77.60%.

Wall Street Analyst Weigh In

Several research firms have weighed in on KO. BNP Paribas assumed coverage on Coca-Cola in a research report on Monday, June 24th. They issued an “outperform” rating and a $72.00 price objective on the stock. Citigroup boosted their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Truist Financial raised their price objective 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. Wells Fargo & Company boosted their target price on shares of Coca-Cola from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Finally, StockNews.com lowered shares of Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $70.73.

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.