The Coca-Cola Company (NYSE:KO) Shares Sold by FRG Family Wealth Advisors LLC

FRG Family Wealth Advisors LLC lessened its holdings in shares of The Coca-Cola Company (NYSE:KO) by 6.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 50,136 shares of the company’s stock after selling 3,175 shares during the quarter. FRG Family Wealth Advisors LLC’s holdings in Coca-Cola were worth $3,412,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in Coca-Cola during the 4th quarter worth $2,808,056,000. Price T Rowe Associates Inc. MD raised its position in Coca-Cola by 21.5% in 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 purchasing an additional 8,733,326 shares in the last quarter. Fisher Asset Management LLC boosted its stake in shares of Coca-Cola by 11,127.2% in the 4th quarter. Fisher Asset Management LLC now owns 4,972,733 shares of the company’s stock valued at $293,043,000 after buying an additional 4,928,441 shares during the period. Pathstone Holdings LLC acquired a new position in shares of Coca-Cola during the fourth quarter worth about $193,342,000. Finally, Putnam Investments LLC increased its stake in shares of Coca-Cola by 32.8% during the fourth quarter. Putnam Investments LLC now owns 12,032,095 shares of the company’s stock worth $709,051,000 after buying an additional 2,973,234 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling at Coca-Cola

In other news, major shareholder Cola Co Coca sold 598,619 shares of the stock in a transaction dated 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 completion of the sale, the insider now owns 1,883,546 shares in the company, valued at $1,742,280,050. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other 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 stock was sold at an average price of $925.00, for a total value of $553,722,575.00. Following the transaction, the insider now owns 1,883,546 shares of the company’s stock, valued at $1,742,280,050. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Nancy Quan sold 18,484 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $15,968,095. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,055,606 shares of company stock worth $584,747,672. 0.97% of the stock is owned by company insiders.

Coca-Cola Stock Up 1.0 %

Shares of NYSE KO opened at $71.87 on Tuesday. The stock has a market cap of $309.75 billion, a PE ratio of 28.75, a price-to-earnings-growth ratio of 3.94 and a beta of 0.60. The Coca-Cola Company has a 52-week low of $51.55 and a 52-week high of $73.53. The business has a 50-day moving average price of $67.65 and a 200 day moving average price of $63.65. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.03. The business had revenue of $12.40 billion during the quarter, compared to the consensus estimate 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 in the prior year, the company earned $0.78 earnings per share. Equities research analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 2.70%. The ex-dividend date is Friday, September 13th. Coca-Cola’s payout ratio is currently 77.60%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Cfra reiterated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Truist Financial lifted their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Morgan Stanley boosted their target price on shares of Coca-Cola from $70.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 27th. Bank of America raised their price target on Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Finally, Citigroup upped their price objective on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $70.73.

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.