Norway Savings Bank lessened its position in shares of The Coca-Cola Company (NYSE:KO – Free Report) by 0.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,658 shares of the company’s stock after selling 185 shares during the period. Norway Savings Bank’s holdings in Coca-Cola were worth $1,364,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Freedom Wealth Alliance LLC bought a new position in Coca-Cola in the 4th quarter valued at approximately $25,000. Venturi Wealth Management LLC bought a new position in Coca-Cola in the 1st quarter valued at approximately $25,000. Fortis Capital Advisors LLC bought a new position in Coca-Cola in the 4th quarter valued at approximately $30,000. KB Financial Partners LLC bought a new position in Coca-Cola in the 1st quarter valued at approximately $31,000. Finally, NewSquare Capital LLC increased its position in Coca-Cola by 62.5% in the 1st quarter. NewSquare Capital LLC now owns 507 shares of the company’s stock valued at $31,000 after acquiring an additional 195 shares during the period. Institutional investors own 68.96% of the company’s stock.
Insider Buying and Selling at Coca-Cola
In other Coca-Cola news, SVP Beatriz R. Perez sold 50,000 shares of the firm’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $62.66, for a total value of $3,133,000.00. Following the transaction, the senior vice president now directly owns 143,383 shares of the company’s stock, valued at $8,984,378.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO John Murphy sold 156,290 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $62.10, for a total transaction of $9,705,609.00. Following the completion of the sale, the chief financial officer now owns 228,830 shares in the company, valued at $14,210,343. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Beatriz R. Perez sold 50,000 shares of the firm’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $62.66, for a total transaction of $3,133,000.00. Following the sale, the senior vice president now owns 143,383 shares of the company’s stock, valued at approximately $8,984,378.78. The disclosure for this sale can be found here. Over the last three months, insiders have sold 227,364 shares of company stock valued at $14,122,016. Corporate insiders own 1.00% of the company’s stock.
Coca-Cola Stock Down 0.9 %
Coca-Cola (NYSE:KO – Get Free Report) last issued its earnings results on Wednesday, July 26th. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.06. The business had revenue of $12 billion for the quarter, compared to analyst estimates of $11.74 billion. Coca-Cola had a net margin of 23.81% and a return on equity of 43.06%. Coca-Cola’s revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.70 earnings per share. As a group, analysts forecast that The Coca-Cola Company will post 2.63 earnings per share for the current year.
Coca-Cola Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend is Thursday, September 14th. Coca-Cola’s dividend payout ratio (DPR) is 75.72%.
Wall Street Analyst Weigh In
Several equities analysts have issued reports on KO shares. Barclays upped their price target on shares of Coca-Cola from $69.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, July 28th. JPMorgan Chase & Co. upped their price target on shares of Coca-Cola from $67.00 to $71.00 and gave the company an “overweight” rating in a research report on Thursday, July 27th. HSBC decreased their price target on shares of Coca-Cola from $77.00 to $74.00 in a research report on Wednesday, June 7th. StockNews.com started coverage on shares of Coca-Cola in a research report on Thursday, August 17th. They issued a “buy” rating for the company. Finally, Wedbush upped their price target on shares of Coca-Cola from $70.00 to $71.00 and gave the company an “outperform” rating in a research report on Thursday, July 27th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $68.33.
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.
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