Founders Financial Alliance LLC reduced its stake in The Coca-Cola Company (NYSE:KO – Free Report) by 3.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,130 shares of the company’s stock after selling 624 shares during the period. Founders Financial Alliance LLC’s holdings in Coca-Cola were worth $1,281,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Elwood & Goetz Wealth Advisory Group LLC grew its holdings in Coca-Cola by 2.2% during the second quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 6,871 shares of the company’s stock worth $437,000 after acquiring an additional 149 shares during the period. Drive Wealth Management LLC grew its stake in shares of Coca-Cola by 1.6% in the 2nd quarter. Drive Wealth Management LLC now owns 9,824 shares of the company’s stock worth $630,000 after purchasing an additional 151 shares during the last quarter. Capital Advisors Ltd. LLC raised its holdings in shares of Coca-Cola by 4.4% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 3,631 shares of the company’s stock worth $231,000 after purchasing an additional 153 shares in the last quarter. Liberty Capital Management Inc. lifted its stake in Coca-Cola by 3.7% during the second quarter. Liberty Capital Management Inc. now owns 4,319 shares of the company’s stock valued at $275,000 after purchasing an additional 155 shares during the last quarter. Finally, Azzad Asset Management Inc. ADV boosted its holdings in Coca-Cola by 0.4% during the second quarter. Azzad Asset Management Inc. ADV now owns 42,407 shares of the company’s stock worth $2,699,000 after buying an additional 160 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In other Coca-Cola news, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola 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 $1,742,280,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Nancy Quan sold 37,787 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $66.96, for a total transaction of $2,530,217.52. Following the completion of the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $14,954,176.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Cola Co Coca sold 598,619 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 1,883,546 shares in the company, valued at $1,742,280,050. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 974,715 shares of company stock worth $579,704,927. Company insiders own 0.97% of the company’s stock.
Analyst Ratings Changes
Read Our Latest Research Report on Coca-Cola
Coca-Cola Stock Performance
KO opened at $71.86 on Tuesday. 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 $309.57 billion, a P/E ratio of 28.74, a price-to-earnings-growth ratio of 3.97 and a beta of 0.60. The stock’s 50 day moving average price is $69.96 and its two-hundred day moving average price is $64.85. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39.
Coca-Cola (NYSE:KO – Get Free Report) last posted its quarterly earnings results 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 company had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the business posted $0.78 EPS. On average, equities analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current year.
Coca-Cola Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 2.70%. The ex-dividend date is Friday, September 13th. Coca-Cola’s payout ratio is presently 77.60%.
About Coca-Cola
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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