The Coca-Cola Company (NYSE:KO) CEO James Quincey Sells 100,000 Shares

The Coca-Cola Company (NYSE:KO) CEO James Quincey sold 100,000 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the completion of the transaction, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at $21,933,220.38. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

James Quincey also recently made the following trade(s):

• On Monday, August 26th, James Quincey sold 42,397 shares of Coca-Cola stock. The stock was sold at an average price of $70.02, for a total value of $2,968,637.94.
• On Wednesday, August 21st, James Quincey sold 102,533 shares of Coca-Cola stock. The shares were sold at an average price of $70.02, for a total transaction of $7,179,360.66.

Coca-Cola Price Performance

KO stock traded up $0.36 during midday trading on Tuesday, reaching $63.72. 3,156,515 shares of the stock were exchanged, compared to its average volume of 13,235,329. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The stock has a market capitalization of $274.49 billion, a PE ratio of 26.19, a P/E/G ratio of 3.88 and a beta of 0.61. The Coca-Cola Company has a 52 week low of $56.60 and a 52 week high of $73.53. The company has a fifty day moving average price of $69.37 and a 200 day moving average price of $66.52.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The company had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter in the prior year, the firm posted $0.74 earnings per share. The firm’s revenue was down .8% compared to the same quarter last year. As a group, analysts expect that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.485 per share. The ex-dividend date is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a yield of 3.04%. Coca-Cola’s payout ratio is currently 80.17%.

Hedge Funds Weigh In On Coca-Cola

A number of institutional investors and hedge funds have recently made changes to their positions in KO. William Blair Investment Management LLC grew its position in Coca-Cola by 17.8% during the first quarter. William Blair Investment Management LLC now owns 207,956 shares of the company’s stock valued at $12,723,000 after buying an additional 31,397 shares during the period. Koshinski Asset Management Inc. raised its stake in Coca-Cola by 4.6% in the first quarter. Koshinski Asset Management Inc. now owns 27,953 shares of the company’s stock valued at $1,710,000 after purchasing an additional 1,242 shares in the last quarter. TD Asset Management Inc raised its stake in Coca-Cola by 0.7% in the first quarter. TD Asset Management Inc now owns 2,935,238 shares of the company’s stock valued at $179,578,000 after purchasing an additional 20,048 shares in the last quarter. State Board of Administration of Florida Retirement System raised its stake in shares of Coca-Cola by 3.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 4,343,558 shares of the company’s stock worth $269,431,000 after acquiring an additional 138,392 shares in the last quarter. Finally, Angeles Wealth Management LLC raised its stake in shares of Coca-Cola by 2.4% during the first quarter. Angeles Wealth Management LLC now owns 11,149 shares of the company’s stock worth $682,000 after acquiring an additional 265 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

KO has been the subject of a number of research analyst reports. TD Cowen boosted their target price on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Citigroup upped their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Truist Financial upped their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Royal Bank of Canada raised their price objective on Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $71.80.

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.