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

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

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

• On Monday, August 26th, James Quincey sold 42,397 shares of Coca-Cola stock. The shares were 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 value of $7,179,360.66.

Coca-Cola Price Performance

Shares of NYSE KO opened at $63.21 on Wednesday. The stock has a market cap of $272.30 billion, a P/E ratio of 26.12, a P/E/G ratio of 3.88 and a beta of 0.61. The Coca-Cola Company has a twelve month low of $56.60 and a twelve month high of $73.53. The stock has a 50 day moving average of $69.37 and a two-hundred day moving average of $66.52. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The firm had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. Coca-Cola’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.74 EPS. On average, research analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 3.07%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio is presently 80.17%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Truist Financial increased their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft boosted their target price on Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. TD Cowen lifted their price objective on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Finally, Morgan Stanley cut their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $71.80.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. William Blair Investment Management LLC raised its holdings 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 worth $12,723,000 after purchasing an additional 31,397 shares in the last quarter. Koshinski Asset Management Inc. raised its stake in shares of Coca-Cola by 4.6% during the 1st quarter. Koshinski Asset Management Inc. now owns 27,953 shares of the company’s stock worth $1,710,000 after buying an additional 1,242 shares in the last quarter. TD Asset Management Inc lifted its holdings in shares of Coca-Cola by 0.7% in the 1st quarter. TD Asset Management Inc now owns 2,935,238 shares of the company’s stock valued at $179,578,000 after buying an additional 20,048 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in shares of Coca-Cola by 3.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 4,343,558 shares of the company’s stock valued at $269,431,000 after buying an additional 138,392 shares in the last quarter. Finally, Angeles Wealth Management LLC grew its holdings in 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 during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

About Coca-Cola

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.