WCG Wealth Advisors LLC Sells 502 Shares of The Coca-Cola Company (NYSE:KO)

WCG Wealth Advisors LLC reduced its holdings in The Coca-Cola Company (NYSE:KO) by 2.5% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,790 shares of the company’s stock after selling 502 shares during the quarter. WCG Wealth Advisors LLC’s holdings in Coca-Cola were worth $1,260,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in KO. Price T Rowe Associates Inc. MD increased its stake in Coca-Cola by 21.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock worth $3,016,023,000 after acquiring an additional 8,733,326 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Coca-Cola by 11,127.2% in the 4th quarter. Fisher Asset Management LLC now owns 4,972,733 shares of the company’s stock worth $293,043,000 after purchasing an additional 4,928,441 shares in the last quarter. Pathstone Holdings LLC purchased a new position in shares of Coca-Cola in the 4th quarter worth about $193,342,000. Putnam Investments LLC boosted its holdings in shares of Coca-Cola by 32.8% in the 4th quarter. Putnam Investments LLC now owns 12,032,095 shares of the company’s stock worth $709,051,000 after purchasing an additional 2,973,234 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Coca-Cola by 30.5% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,698,984 shares of the company’s stock worth $776,924,000 after purchasing an additional 2,964,850 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Insider Activity

In related news, major shareholder Cola Co Coca sold 598,619 shares of the company’s 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 sale, the insider now directly owns 1,883,546 shares of the company’s stock, valued at $1,742,280,050. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, 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 owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Nancy Quan sold 18,484 shares of the business’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 sale, the executive vice president now owns 223,330 shares in the company, valued at approximately $15,968,095. The disclosure for this sale can be found here. Insiders sold a total of 974,715 shares of company stock worth $579,704,927 in the last quarter. 0.97% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on KO. Morgan Stanley upped their price objective on Coca-Cola from $70.00 to $78.00 and gave the stock an “overweight” rating in a report on Tuesday, August 27th. Bank of America upped their price objective on Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft upped their price objective on Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Citigroup upped their price objective on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, BNP Paribas started coverage on Coca-Cola in a report on Monday, June 24th. They set an “outperform” rating and a $72.00 target price for the company. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and a consensus target price of $71.07.

Coca-Cola Stock Performance

NYSE:KO opened at $70.63 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The firm’s fifty day simple moving average is $68.98 and its 200 day simple moving average is $64.22. The stock has a market cap of $304.27 billion, a P/E ratio of 28.25, a price-to-earnings-growth ratio of 3.93 and a beta of 0.60. The Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $73.53.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The firm had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.78 billion. During the same quarter in the previous year, the firm posted $0.78 EPS. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, 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. Stockholders 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 2.75%. The ex-dividend date of this dividend is Friday, September 13th. Coca-Cola’s dividend payout ratio is currently 77.60%.

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.