The Coca-Cola Company (NYSE:KO) Shares Sold by Wallace Capital Management Inc.

Wallace Capital Management Inc. lowered its stake in The Coca-Cola Company (NYSE:KO) by 2.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 83,322 shares of the company’s stock after selling 2,252 shares during the period. Coca-Cola accounts for approximately 0.7% of Wallace Capital Management Inc.’s holdings, making the stock its 21st biggest holding. Wallace Capital Management Inc.’s holdings in Coca-Cola were worth $5,303,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of KO. Swedbank AB acquired a new position in shares of Coca-Cola in the 1st quarter valued at about $102,604,000. Angeles Investment Advisors LLC boosted its stake in Coca-Cola by 2.4% in the fourth quarter. Angeles Investment Advisors LLC now owns 15,812 shares of the company’s stock valued at $932,000 after acquiring an additional 374 shares during the period. Wealth Quarterback LLC grew its holdings in shares of Coca-Cola by 3.2% during the fourth quarter. Wealth Quarterback LLC now owns 17,454 shares of the company’s stock valued at $1,029,000 after purchasing an additional 537 shares during the last quarter. BDF Gestion acquired a new stake in shares of Coca-Cola during the 2nd quarter worth approximately $7,421,000. Finally, Duality Advisers LP lifted its holdings in shares of Coca-Cola by 191.1% in the 1st quarter. Duality Advisers LP now owns 111,851 shares of the company’s stock worth $6,843,000 after purchasing an additional 73,434 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

KO has been the topic of several analyst reports. Barclays increased 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. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. Bank of America upped their target price on shares of Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Cfra reissued a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Finally, StockNews.com downgraded Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus price target of $71.07.

Coca-Cola Trading Up 0.5 %

Shares of KO opened at $71.79 on Monday. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $73.53. The stock has a market capitalization of $309.27 billion, a P/E ratio of 28.72, a P/E/G ratio of 3.97 and a beta of 0.60. The business’s 50-day moving average price is $69.82 and its 200 day moving average price is $64.77.

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 the consensus estimate 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 return on equity of 43.62% and a net margin of 22.92%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.78 EPS. Analysts expect 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. Investors of record on Friday, September 13th will be given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 2.70%. The ex-dividend date is Friday, September 13th. Coca-Cola’s payout ratio is presently 77.60%.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $15,968,095. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Nancy Quan sold 18,484 shares of the company’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 completion of the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO James Quincey sold 42,397 shares of Coca-Cola stock in a transaction on Monday, August 26th. The stock was sold at an average price of $70.02, for a total transaction of $2,968,637.94. Following the completion of the transaction, the chief executive officer now owns 442,546 shares in the company, valued at approximately $30,987,070.92. The disclosure for this sale can be found here. Insiders sold 974,715 shares of company stock worth $579,704,927 over the last ninety days. 0.97% of the stock is currently owned by insiders.

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.