The Coca-Cola Company (NYSE:KO) Shares Sold by First Hawaiian Bank

First Hawaiian Bank reduced its position in shares of The Coca-Cola Company (NYSE:KO) by 5.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,533 shares of the company’s stock after selling 747 shares during the period. First Hawaiian Bank’s holdings in Coca-Cola were worth $798,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of KO. 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 approximately $28,000. Redmont Wealth Advisors LLC acquired a new position in Coca-Cola during the first quarter valued at approximately $28,000. Private Wealth Management Group LLC bought a new stake in shares of Coca-Cola in the fourth quarter valued at approximately $27,000. Finally, Criterion Capital Advisors LLC bought a new stake in shares of Coca-Cola in the fourth quarter valued at approximately $30,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Coca-Cola

In other Coca-Cola news, major shareholder Cola Co Coca sold 598,619 shares of the firm’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 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 approximately $1,742,280,050. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Bruno Pietracci sold 38,653 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $69.01, for a total value of $2,667,443.53. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola stock in a transaction 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 completion of the transaction, the insider now owns 1,883,546 shares in the company, valued at $1,742,280,050. The disclosure for this sale can be found here. Insiders sold 860,730 shares of company stock valued at $570,617,785 over the last 90 days. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Trading Down 1.7 %

Shares of NYSE:KO traded down $1.20 during mid-day trading on Monday, reaching $68.13. 25,479,749 shares of the company were exchanged, compared to its average volume of 13,083,978. 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 market cap of $293.63 billion, a price-to-earnings ratio of 27.23, a P/E/G ratio of 3.80 and a beta of 0.59. The firm’s 50-day simple moving average is $64.00 and its 200 day simple moving average is $61.78. The Coca-Cola Company has a 1 year low of $51.55 and a 1 year high of $69.67.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. The company had revenue of $12.40 billion for 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 quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.78 earnings per share. Equities research analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

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 given a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend is Friday, September 13th. Coca-Cola’s payout ratio is currently 77.60%.

Analyst Ratings Changes

KO has been the topic of a number of recent analyst reports. Bank of America raised their target price on Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Truist Financial boosted their target price on Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. boosted 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. Argus boosted their target price on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. Finally, TD Cowen boosted their target price on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Coca-Cola currently has an average rating of “Moderate Buy” and an average price target of $70.20.

Coca-Cola 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.