WFA of San Diego LLC lowered its position in shares of The Coca-Cola Company (NYSE:KO – Free Report) by 19.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,900 shares of the company’s stock after selling 700 shares during the quarter. WFA of San Diego LLC’s holdings in Coca-Cola were worth $175,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in KO. Pacific Wealth Strategies Group Inc. grew its position in shares of Coca-Cola by 12.8% in the 1st quarter. Pacific Wealth Strategies Group Inc. now owns 15,800 shares of the company’s stock valued at $980,000 after acquiring an additional 1,788 shares during the period. Mirabella Financial Services LLP bought a new position in Coca-Cola during the second quarter worth about $1,116,000. Providence Capital Advisors LLC increased its position in Coca-Cola by 1.4% during the second quarter. Providence Capital Advisors LLC now owns 43,642 shares of the company’s stock worth $2,628,000 after buying an additional 620 shares during the last quarter. KMG Fiduciary Partners LLC raised its stake in Coca-Cola by 10.6% in the second quarter. KMG Fiduciary Partners LLC now owns 160,172 shares of the company’s stock valued at $9,646,000 after buying an additional 15,389 shares during the period. Finally, Avion Wealth boosted its stake in shares of Coca-Cola by 73.9% during the 2nd quarter. Avion Wealth now owns 781 shares of the company’s stock worth $46,000 after acquiring an additional 332 shares during the period. 68.96% of the stock is owned by institutional investors.
Insider Buying and Selling
In other Coca-Cola news, SVP Beatriz R. Perez sold 20,534 shares of the business’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $56.12, for a total transaction of $1,152,368.08. Following the completion of the transaction, the senior vice president now owns 143,383 shares of the company’s stock, valued at $8,046,653.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO James Quincey sold 92,029 shares of the firm’s stock in a transaction on Tuesday, October 17th. The stock was sold at an average price of $53.86, for a total transaction of $4,956,681.94. Following the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $23,835,527.56. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Beatriz R. Perez sold 20,534 shares of the company’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $56.12, for a total value of $1,152,368.08. Following the completion of the transaction, the senior vice president now directly owns 143,383 shares of the company’s stock, valued at approximately $8,046,653.96. The disclosure for this sale can be found here. Insiders sold a total of 204,592 shares of company stock worth $11,455,015 in the last ninety days. 1.00% of the stock is owned by insiders.
Coca-Cola Price Performance
Coca-Cola (NYSE:KO – Get Free Report) last announced its quarterly earnings data on Tuesday, October 24th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. Coca-Cola had a net margin of 23.92% and a return on equity of 42.44%. The business had revenue of $11.95 billion for the quarter, compared to analysts’ expectations of $11.45 billion. Equities analysts expect that The Coca-Cola Company will post 2.68 EPS for the current fiscal year.
Coca-Cola Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a dividend of $0.46 per share. The ex-dividend date is Thursday, November 30th. This represents a $1.84 annualized dividend and a dividend yield of 3.22%. Coca-Cola’s dividend payout ratio is currently 73.90%.
Analyst Ratings Changes
Several equities research analysts have issued reports on the company. Jefferies Financial Group started coverage on Coca-Cola in a report on Monday, November 13th. They set a “hold” rating and a $64.00 price target for the company. Barclays cut their target price on shares of Coca-Cola from $70.00 to $59.00 and set an “overweight” rating for the company in a research note on Thursday, October 12th. JPMorgan Chase & Co. upped their price target on shares of Coca-Cola from $59.00 to $62.00 and gave the company an “overweight” rating in a research note on Wednesday, October 25th. StockNews.com downgraded Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, October 13th. Finally, Wedbush lifted their price target on Coca-Cola from $70.00 to $71.00 and gave the stock an “outperform” rating in a report on Thursday, July 27th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $66.20.
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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