Coca-Cola (NYSE:KO) Stock Price Down 0.9% Following Insider Selling

The Coca-Cola Company (NYSE:KO)’s stock price traded down 0.9% on Wednesday following insider selling activity. The company traded as low as $67.02 and last traded at $67.04. 2,771,853 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 12,819,791 shares. The stock had previously closed at $67.68.

Specifically, major shareholder Cola Co Coca sold 598,619 shares of the business’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the sale, the insider now directly owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Beatriz R. Perez sold 57,298 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $61.99, for a total value of $3,551,903.02. Following the completion of the transaction, the executive vice president now directly owns 167,107 shares of the company’s stock, valued at approximately $10,358,962.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola stock in a transaction on Friday, July 5th. The stock was sold at an average price of $925.00, for a total value of $553,722,575.00. Following the transaction, the insider now directly owns 1,883,546 shares of the company’s stock, valued at $1,742,280,050. The disclosure for this sale can be found here. Over the last quarter, insiders sold 879,375 shares of company stock worth $571,502,245. 0.97% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on KO shares. Barclays lifted their price target on Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Citigroup upped their price target 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. Deutsche Bank Aktiengesellschaft raised their price objective on shares of 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 upped their target price 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, Evercore ISI raised their price target on Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.20.

Coca-Cola Stock Down 1.0 %

The company has a market cap of $288.63 billion, a PE ratio of 26.82, a PEG ratio of 3.74 and a beta of 0.59. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08. The firm has a fifty day simple moving average of $63.66 and a 200 day simple moving average of $61.61.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. The firm had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. Coca-Cola’s revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.78 earnings per share. Equities research analysts predict that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend is Friday, September 13th. Coca-Cola’s dividend payout ratio (DPR) is currently 77.60%.

Institutional Investors Weigh In On Coca-Cola

Institutional investors have recently added to or reduced their stakes in the company. Elwood & Goetz Wealth Advisory Group LLC grew its position in shares of Coca-Cola by 2.2% in the second quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 6,871 shares of the company’s stock valued at $437,000 after purchasing an additional 149 shares during the last quarter. Capital Advisors Ltd. LLC lifted its holdings in shares of Coca-Cola by 4.4% during the second quarter. Capital Advisors Ltd. LLC now owns 3,631 shares of the company’s stock worth $231,000 after buying an additional 153 shares during the last quarter. Liberty Capital Management Inc. boosted its position in shares of Coca-Cola by 3.7% in the second quarter. Liberty Capital Management Inc. now owns 4,319 shares of the company’s stock valued at $275,000 after acquiring an additional 155 shares during the period. Azzad Asset Management Inc. ADV grew its stake in shares of Coca-Cola by 0.4% in the second quarter. Azzad Asset Management Inc. ADV now owns 42,407 shares of the company’s stock worth $2,699,000 after acquiring an additional 160 shares during the last quarter. Finally, Joule Financial LLC increased its position in Coca-Cola by 3.6% during the second quarter. Joule Financial LLC now owns 4,867 shares of the company’s stock worth $312,000 after acquiring an additional 167 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

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.