Insider Selling: Coca-Cola Co (The) (NYSE:KO) Director Sells $19,368,000.00 in Stock

Coca-Cola Co (The) (NYSE:KO) Director David B. Weinberg sold 400,000 shares of the business’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $48.42, for a total value of $19,368,000.00. Following the sale, the director now directly owns 355,214 shares in the company, valued at $17,199,461.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Coca-Cola stock opened at $47.69 on Friday. The business has a fifty day moving average of $46.00 and a two-hundred day moving average of $49.38. The company has a quick ratio of 0.96, a current ratio of 1.09 and a debt-to-equity ratio of 1.97. The firm has a market cap of $204.85 billion, a P/E ratio of 22.50, a P/E/G ratio of 5.57 and a beta of 0.54. Coca-Cola Co has a twelve month low of $36.27 and a twelve month high of $60.13.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, July 21st. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. The company had revenue of $7.20 billion during the quarter, compared to analyst estimates of $7.26 billion. Coca-Cola had a return on equity of 41.44% and a net margin of 26.77%. Coca-Cola’s revenue was down 28.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.63 earnings per share. Equities analysts expect that Coca-Cola Co will post 1.8 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date is Monday, September 14th. Coca-Cola’s payout ratio is presently 77.73%.

Several hedge funds have recently modified their holdings of KO. Norges Bank acquired a new position in shares of Coca-Cola during the fourth quarter worth $2,006,996,000. Wellington Management Group LLP increased its position in shares of Coca-Cola by 11.2% during the first quarter. Wellington Management Group LLP now owns 102,693,257 shares of the company’s stock worth $4,544,177,000 after purchasing an additional 10,308,917 shares in the last quarter. Capital World Investors increased its position in shares of Coca-Cola by 17.8% during the first quarter. Capital World Investors now owns 38,240,690 shares of the company’s stock worth $1,692,153,000 after purchasing an additional 5,792,057 shares in the last quarter. Two Sigma Advisers LP increased its position in shares of Coca-Cola by 622.4% during the first quarter. Two Sigma Advisers LP now owns 6,098,101 shares of the company’s stock worth $269,841,000 after purchasing an additional 5,253,900 shares in the last quarter. Finally, BlackRock Inc. increased its position in shares of Coca-Cola by 1.9% during the first quarter. BlackRock Inc. now owns 279,336,356 shares of the company’s stock worth $12,360,635,000 after purchasing an additional 5,199,670 shares in the last quarter. 67.40% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have weighed in on KO. Citigroup reduced their price objective on Coca-Cola from $63.00 to $51.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 22nd. Cfra dropped their target price on Coca-Cola from $60.00 to $55.00 and set a “strong-buy” rating for the company in a research report on Tuesday, April 21st. Royal Bank of Canada dropped their target price on Coca-Cola from $57.00 to $55.00 and set an “outperform” rating for the company in a research report on Wednesday, April 22nd. Zacks Investment Research lowered Coca-Cola from a “hold” rating to a “sell” rating and set a $49.00 target price for the company. in a research report on Wednesday, May 27th. Finally, Bank of America restated a “buy” rating and set a $53.00 target price on shares of Coca-Cola in a research report on Friday, July 17th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Coca-Cola presently has an average rating of “Buy” and an average price target of $54.05.

About Coca-Cola

The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plant-based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

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