The Coca-Cola Company (NYSE:KO) Shares Sold by Means Investment CO. Inc.

Means Investment CO. Inc. lowered its position in shares of The Coca-Cola Company (NYSE:KO) by 10.9% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 17,910 shares of the company’s stock after selling 2,198 shares during the quarter. Means Investment CO. Inc.’s holdings in Coca-Cola were worth $1,140,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in KO. Tidemark LLC purchased a new position in shares of Coca-Cola during the 4th quarter valued at about $26,000. Private Wealth Management Group LLC purchased a new position in Coca-Cola during the fourth quarter valued at approximately $27,000. Redmont Wealth Advisors LLC acquired a new position in Coca-Cola in the first quarter valued at approximately $28,000. ESL Trust Services LLC purchased a new stake in Coca-Cola in the 1st quarter worth approximately $28,000. Finally, Criterion Capital Advisors LLC acquired a new stake in shares of Coca-Cola during the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analyst Ratings Changes

KO has been the topic of several recent analyst reports. Wells Fargo & Company increased their target price on shares of Coca-Cola from $70.00 to $73.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Citigroup boosted their price objective on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. StockNews.com lowered Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Argus boosted their price target on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. Finally, BNP Paribas initiated coverage on shares of Coca-Cola in a research report on Monday, June 24th. They set an “outperform” rating and a $72.00 price objective for the company. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $70.20.

Coca-Cola Trading Down 0.3 %

Shares of KO stock traded down $0.20 during trading hours on Monday, hitting $68.98. The company had a trading volume of 9,836,934 shares, compared to its average volume of 13,033,500. 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 stock has a market capitalization of $297.16 billion, a PE ratio of 27.63, a price-to-earnings-growth ratio of 3.80 and a beta of 0.59. The company’s fifty day moving average is $65.11 and its 200 day moving average is $62.40. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $69.67.

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

Coca-Cola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend is Friday, September 13th. Coca-Cola’s dividend payout ratio is currently 77.60%.

Insider Activity

In other Coca-Cola news, EVP Nancy Quan sold 19,304 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $63.44, for a total transaction of $1,224,645.76. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $14,168,055.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Nancy Quan sold 19,304 shares of the company’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $63.44, for a total transaction of $1,224,645.76. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $14,168,055.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Bruno Pietracci sold 38,653 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $69.01, for a total value of $2,667,443.53. The disclosure for this sale can be found here. In the last quarter, insiders sold 871,162 shares of company stock worth $571,697,887. 0.97% of the stock is currently owned by company insiders.

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.