Piscataqua Savings Bank cut its stake in shares of The Coca-Cola Company (NYSE:KO – Free Report) by 7.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,708 shares of the company’s stock after selling 360 shares during the period. Piscataqua Savings Bank’s holdings in Coca-Cola were worth $284,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in KO. Venturi Wealth Management LLC purchased a new stake in Coca-Cola in the first quarter valued at approximately $25,000. Freedom Wealth Alliance LLC acquired a new stake in shares of Coca-Cola in the fourth quarter valued at $25,000. Fortis Capital Advisors LLC purchased a new stake in shares of Coca-Cola in the 4th quarter valued at $30,000. NewSquare Capital LLC lifted its stake in Coca-Cola by 62.5% during the 1st quarter. NewSquare Capital LLC now owns 507 shares of the company’s stock worth $31,000 after acquiring an additional 195 shares in the last quarter. Finally, KB Financial Partners LLC purchased a new position in Coca-Cola during the 1st quarter valued at about $31,000. 68.96% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other news, SVP Monica Howard Douglas sold 21,074 shares of the stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $60.90, for a total value of $1,283,406.60. Following the completion of the sale, the senior vice president now directly owns 18,360 shares of the company’s stock, valued at $1,118,124. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO John Murphy sold 156,290 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $62.10, for a total value of $9,705,609.00. Following the transaction, the chief financial officer now owns 228,830 shares of the company’s stock, valued at $14,210,343. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Monica Howard Douglas sold 21,074 shares of the firm’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $60.90, for a total transaction of $1,283,406.60. Following the completion of the sale, the senior vice president now owns 18,360 shares of the company’s stock, valued at approximately $1,118,124. The disclosure for this sale can be found here. Insiders have sold a total of 227,364 shares of company stock valued at $14,122,016 over the last quarter. Company insiders own 1.00% of the company’s stock.
Coca-Cola Price Performance
Coca-Cola (NYSE:KO – Get Free Report) last issued its quarterly earnings data on Wednesday, July 26th. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.06. The business had revenue of $12 billion during the quarter, compared to the consensus estimate of $11.74 billion. Coca-Cola had a net margin of 23.81% and a return on equity of 43.06%. The company’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.70 EPS. Equities research analysts anticipate that The Coca-Cola Company will post 2.63 earnings per share for the current fiscal year.
Coca-Cola Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.84 dividend on an annualized basis and a yield of 3.16%. Coca-Cola’s dividend payout ratio is presently 75.72%.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on KO. Royal Bank of Canada boosted their price target on shares of Coca-Cola from $69.00 to $70.00 in a research note on Thursday, July 27th. JPMorgan Chase & Co. raised 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 cut their price objective on Coca-Cola from $77.00 to $74.00 in a research report on Wednesday, June 7th. Wedbush lifted their target price on Coca-Cola from $70.00 to $71.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. Finally, StockNews.com assumed coverage on Coca-Cola in a report on Thursday, August 17th. They set a “buy” rating on the stock. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and an average target price of $68.33.
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.
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