The Coca-Cola Company (NYSE:KO) Shares Sold by Mitchell Mcleod Pugh & Williams Inc.

Mitchell Mcleod Pugh & Williams Inc. trimmed its holdings in shares of The Coca-Cola Company (NYSE:KO) by 5.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,083 shares of the company’s stock after selling 1,418 shares during the period. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Coca-Cola were worth $1,660,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. New Millennium Group LLC acquired a new position in Coca-Cola during the 2nd quarter worth $26,000. Tidemark LLC bought a new position in shares of Coca-Cola during the fourth quarter worth about $26,000. ESL Trust Services LLC acquired a new position in Coca-Cola in the first quarter worth about $28,000. Redmont Wealth Advisors LLC bought a new stake in Coca-Cola in the first quarter valued at about $28,000. Finally, Private Wealth Management Group LLC acquired a new stake in Coca-Cola during the fourth quarter valued at approximately $27,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Buying and Selling

In other news, EVP Nancy Quan sold 19,304 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $63.44, for a total value of $1,224,645.76. Following the completion of the sale, the executive vice president now owns 223,330 shares in the company, valued at $14,168,055.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Nikolaos Koumettis sold 80,891 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $62.34, for a total transaction of $5,042,744.94. Following the completion of the sale, the insider now directly owns 218,880 shares in the company, valued at $13,644,979.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Nancy Quan sold 19,304 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $63.44, for a total value of $1,224,645.76. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $14,168,055.20. The disclosure for this sale can be found here. Insiders have sold a total of 1,074,910 shares of company stock valued at $585,972,318 over the last quarter. Corporate insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on KO shares. Argus boosted their price target on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, May 22nd. Royal Bank of Canada increased their target price on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Morgan Stanley boosted their price objective on shares of Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a research report on Tuesday, August 27th. Barclays lifted their target price on Coca-Cola from $69.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Finally, JPMorgan Chase & Co. increased their price target on Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus target price of $70.73.

Coca-Cola Stock Performance

Shares of NYSE:KO traded up $0.42 on Friday, hitting $72.47. The company’s stock had a trading volume of 18,624,227 shares, compared to its average volume of 13,806,061. The company has a market capitalization of $312.34 billion, a price-to-earnings ratio of 28.99, a price-to-earnings-growth ratio of 4.05 and a beta of 0.59. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08. The Coca-Cola Company has a 12 month low of $51.55 and a 12 month high of $72.57. The stock’s 50-day moving average is $66.66 and its two-hundred day moving average is $63.13.

Coca-Cola (NYSE:KO) last announced its earnings results 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. The firm had revenue of $12.40 billion during the quarter, compared to analyst estimates of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. Coca-Cola’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.78 EPS. On average, equities research analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The business 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 dividend of $0.485 per share. 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 is presently 77.60%.

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.