Axxcess Wealth Management LLC Sells 16,512 Shares of The Coca-Cola Company (NYSE:KO)

Axxcess Wealth Management LLC reduced its holdings in shares of The Coca-Cola Company (NYSE:KO) by 9.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 161,474 shares of the company’s stock after selling 16,512 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Coca-Cola were worth $10,278,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Tidemark LLC bought a new stake in shares of Coca-Cola in the fourth quarter worth $26,000. New Millennium Group LLC acquired a new stake in Coca-Cola during the 2nd quarter worth about $26,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Coca-Cola during the 1st quarter worth approximately $28,000. ESL Trust Services LLC acquired a new position in shares of Coca-Cola during the 1st quarter valued at $28,000. Finally, Frazier Financial Advisors LLC bought a new position in Coca-Cola during the fourth quarter worth $31,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Citigroup upped their price objective 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. Bank of America raised their price objective on Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Royal Bank of Canada increased their target price on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Truist Financial upped their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Finally, StockNews.com lowered shares of Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.07.

Coca-Cola Price Performance

Shares of NYSE:KO opened at $72.10 on Tuesday. The Coca-Cola Company has a 12 month low of $51.55 and a 12 month high of $73.53. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The stock has a market cap of $310.60 billion, a P/E ratio of 28.84, a P/E/G ratio of 3.93 and a beta of 0.60. The company has a 50 day moving average of $68.47 and a 200 day moving average of $64.04.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.03. The firm had revenue of $12.40 billion for the quarter, compared to analysts’ expectations of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The company’s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.78 EPS. As a group, sell-side analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors 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 yield of 2.69%. The ex-dividend date is Friday, September 13th. Coca-Cola’s dividend payout ratio is presently 77.60%.

Insider Buying and Selling

In related news, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the completion of the sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,968,095. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $925.00, for a total value of $553,722,575.00. Following the sale, 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 have sold a total of 974,715 shares of company stock worth $579,704,927 in the last ninety days. 0.97% of the stock is owned by insiders.

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.