Auxier Asset Management Sells 578 Shares of The Coca-Cola Company (NYSE:KO)

Auxier Asset Management cut its holdings in The Coca-Cola Company (NYSE:KO) by 0.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 94,996 shares of the company’s stock after selling 578 shares during the quarter. Auxier Asset Management’s holdings in Coca-Cola were worth $6,046,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Legacy Financial Advisors Inc. boosted its position in shares of Coca-Cola by 1.2% during the second quarter. Legacy Financial Advisors Inc. now owns 36,159 shares of the company’s stock valued at $2,302,000 after buying an additional 434 shares during the last quarter. Summit Trail Advisors LLC raised its position in Coca-Cola by 3.0% in the 2nd quarter. Summit Trail Advisors LLC now owns 21,816 shares of the company’s stock worth $1,399,000 after buying an additional 629 shares during the last quarter. Capstone Triton Financial Group LLC lifted its stake in Coca-Cola by 3.2% during the 2nd quarter. Capstone Triton Financial Group LLC now owns 40,609 shares of the company’s stock valued at $2,585,000 after acquiring an additional 1,271 shares during the period. Chesapeake Wealth Management boosted its holdings in shares of Coca-Cola by 1.2% during the 2nd quarter. Chesapeake Wealth Management now owns 21,935 shares of the company’s stock valued at $1,396,000 after acquiring an additional 269 shares during the last quarter. Finally, Sei Investments Co. grew its stake in shares of Coca-Cola by 3.0% in the second quarter. Sei Investments Co. now owns 1,753,046 shares of the company’s stock worth $111,581,000 after acquiring an additional 50,473 shares during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on KO. Wells Fargo & Company increased their price objective on shares of Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Royal Bank of Canada boosted their target price on shares of Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. BNP Paribas started coverage on Coca-Cola in a research note on Monday, June 24th. They issued an “outperform” rating and a $72.00 price target on the stock. Truist Financial upped their price objective on Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, Barclays raised their target price on Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $71.07.

Coca-Cola Trading Up 1.4 %

Coca-Cola stock opened at $71.62 on Friday. The Coca-Cola Company has a 12-month low of $51.55 and a 12-month high of $73.53. The firm has a market capitalization of $308.54 billion, a price-to-earnings ratio of 28.65, a P/E/G ratio of 3.93 and a beta of 0.60. The firm has a 50 day moving average of $69.13 and a 200 day moving average of $64.31. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $11.78 billion. During the same period in the prior year, the company posted $0.78 earnings per share. 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 earnings per share for the current year.

Coca-Cola Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Friday, September 13th. This represents a $1.94 annualized dividend and a dividend yield of 2.71%. Coca-Cola’s payout ratio is 77.60%.

Insider Transactions at Coca-Cola

In related news, major shareholder Cola Co Coca sold 598,619 shares of the business’s stock in a transaction that occurred 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 approximately $1,742,280,050. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola stock in a transaction dated 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 completion of the sale, the insider now directly owns 1,883,546 shares in the company, valued at $1,742,280,050. The disclosure for this sale can be found here. Insiders sold a total of 974,715 shares of company stock valued at $579,704,927 over the last 90 days. Company insiders own 0.97% 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.