The Coca-Cola Company (NYSE:KO) Shares Sold by FRG Family Wealth Advisors LLC

FRG Family Wealth Advisors LLC reduced its holdings in The Coca-Cola Company (NYSE:KO) by 6.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,136 shares of the company’s stock after selling 3,175 shares during the quarter. FRG Family Wealth Advisors LLC’s holdings in Coca-Cola were worth $3,412,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of KO. Norges Bank purchased a new position in Coca-Cola in the fourth quarter worth $2,808,056,000. Price T Rowe Associates Inc. MD grew its stake in shares of Coca-Cola by 21.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock worth $3,016,023,000 after purchasing an additional 8,733,326 shares during the period. Fisher Asset Management LLC increased its holdings in shares of Coca-Cola by 11,127.2% in the 4th quarter. Fisher Asset Management LLC now owns 4,972,733 shares of the company’s stock valued at $293,043,000 after purchasing an additional 4,928,441 shares in the last quarter. Pathstone Holdings LLC acquired a new stake in shares of Coca-Cola in the fourth quarter valued at about $193,342,000. Finally, Putnam Investments LLC boosted its holdings in Coca-Cola by 32.8% during the fourth quarter. Putnam Investments LLC now owns 12,032,095 shares of the company’s stock worth $709,051,000 after buying an additional 2,973,234 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on KO shares. Citigroup increased their target price 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. Morgan Stanley raised their price objective on Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a research note on Tuesday, August 27th. Truist Financial boosted their target price on Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. upped their target price on Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Finally, Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Coca-Cola has an average rating of “Moderate Buy” and an average price target of $70.73.

Coca-Cola Price Performance

NYSE:KO opened at $71.87 on Tuesday. The Coca-Cola Company has a 12-month low of $51.55 and a 12-month high of $73.53. The firm has a market cap of $309.75 billion, a price-to-earnings ratio of 28.75, a price-to-earnings-growth ratio of 3.94 and a beta of 0.60. The company’s 50-day moving average is $67.65 and its two-hundred day moving average is $63.65. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.03. The business had revenue of $12.40 billion for the quarter, compared to the consensus estimate of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.78 earnings per share. Research analysts expect 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 issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 2.70%. The ex-dividend date is Friday, September 13th. Coca-Cola’s dividend payout ratio (DPR) is 77.60%.

Insider Activity

In related news, EVP Nancy Quan sold 18,482 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $68.95, for a total transaction of $1,274,333.90. Following the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at $15,398,603.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO James Quincey sold 42,397 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $70.02, for a total transaction of $2,968,637.94. Following the completion of the sale, the chief executive officer now directly owns 442,546 shares in the company, valued at approximately $30,987,070.92. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Nancy Quan sold 18,482 shares of Coca-Cola stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $68.95, for a total value of $1,274,333.90. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $15,398,603.50. The disclosure for this sale can be found here. Insiders sold a total of 1,055,606 shares of company stock valued at $584,747,672 over the last quarter. Company insiders own 0.97% of the company’s stock.

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.