The Coca-Cola Company (NYSE:KO) Shares Sold by Lyell Wealth Management LP

Lyell Wealth Management LP lessened its stake in The Coca-Cola Company (NYSE:KO) by 15.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,275 shares of the company’s stock after selling 994 shares during the period. Lyell Wealth Management LP’s holdings in Coca-Cola were worth $336,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Focus Financial Network Inc. ADV acquired a new stake in shares of Coca-Cola during the fourth quarter worth about $3,255,000. Swedbank AB acquired a new stake in shares of Coca-Cola during the first quarter worth about $102,604,000. Angeles Investment Advisors LLC boosted its stake in shares of Coca-Cola by 2.4% during the fourth quarter. Angeles Investment Advisors LLC now owns 15,812 shares of the company’s stock worth $932,000 after buying an additional 374 shares during the period. Wealth Quarterback LLC boosted its stake in shares of Coca-Cola by 3.2% during the fourth quarter. Wealth Quarterback LLC now owns 17,454 shares of the company’s stock worth $1,029,000 after buying an additional 537 shares during the period. Finally, BDF Gestion acquired a new stake in shares of Coca-Cola during the second quarter worth about $7,421,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on KO. JPMorgan Chase & Co. raised their price objective on shares of Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Argus raised their price objective on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, May 22nd. Truist Financial raised their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. Finally, TD Cowen raised their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $70.73.

Coca-Cola Trading Up 0.3 %

Shares of KO opened at $71.41 on Monday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The firm has a 50 day simple moving average of $68.28 and a 200-day simple moving average of $63.95. The Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $73.53. The stock has a market cap of $307.63 billion, a price-to-earnings ratio of 28.56, a price-to-earnings-growth ratio of 3.93 and a beta of 0.60.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The business had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.78 billion. During the same period last year, the company posted $0.78 EPS. The company’s revenue was up 3.3% on a year-over-year basis. Equities analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders 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 2.72%. Coca-Cola’s dividend payout ratio (DPR) is 77.60%.

Insider Transactions at Coca-Cola

In other news, CEO James Quincey sold 102,533 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the transaction, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Coca-Cola news, CEO James Quincey sold 102,533 shares of Coca-Cola stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola stock in a transaction that occurred on Friday, July 5th. The stock was 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 directly owns 1,883,546 shares of the company’s stock, valued at $1,742,280,050. The disclosure for this sale can be found here. Insiders sold a total of 974,715 shares of company stock valued at $579,704,927 in the last ninety days. Corporate insiders own 0.97% of the company’s stock.

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.