The Coca-Cola Co (NYSE:KO) Shares Sold by Western Wealth Management LLC

Western Wealth Management LLC cut its stake in The Coca-Cola Co (NYSE:KO) by 3.8% during the 2nd quarter, Holdings Channel.com reports. The fund owned 50,917 shares of the company’s stock after selling 2,021 shares during the period. Western Wealth Management LLC’s holdings in The Coca-Cola were worth $2,590,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KO. Arbor Wealth Management LLC raised its stake in shares of The Coca-Cola by 13.2% during the second quarter. Arbor Wealth Management LLC now owns 1,706 shares of the company’s stock valued at $87,000 after purchasing an additional 199 shares during the period. Investment Partners LTD. raised its stake in shares of The Coca-Cola by 1.0% during the second quarter. Investment Partners LTD. now owns 20,577 shares of the company’s stock valued at $1,048,000 after purchasing an additional 202 shares during the period. Centerpoint Advisors LLC raised its stake in shares of The Coca-Cola by 13.3% during the second quarter. Centerpoint Advisors LLC now owns 1,734 shares of the company’s stock valued at $88,000 after purchasing an additional 203 shares during the period. Paulson Wealth Management Inc. raised its stake in shares of The Coca-Cola by 3.2% during the first quarter. Paulson Wealth Management Inc. now owns 6,622 shares of the company’s stock valued at $310,000 after purchasing an additional 208 shares during the period. Finally, Essex Financial Services Inc. raised its stake in shares of The Coca-Cola by 1.1% during the second quarter. Essex Financial Services Inc. now owns 19,356 shares of the company’s stock valued at $986,000 after purchasing an additional 213 shares during the period. 66.84% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have recently issued reports on KO. BMO Capital Markets lifted their price objective on shares of The Coca-Cola from $48.00 to $52.00 and gave the company a “market perform” rating in a research note on Wednesday, July 24th. Zacks Investment Research upgraded shares of The Coca-Cola from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research note on Tuesday, June 4th. JPMorgan Chase & Co. lifted their price objective on shares of The Coca-Cola from $50.00 to $59.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Credit Suisse Group lifted their price objective on shares of The Coca-Cola from $49.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Finally, Deutsche Bank raised their price target on shares of The Coca-Cola from $59.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Eleven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The Coca-Cola has an average rating of “Buy” and a consensus target price of $54.10.

Shares of KO stock traded down $0.63 during mid-day trading on Friday, reaching $53.86. 6,132,195 shares of the company were exchanged, compared to its average volume of 13,598,651. The Coca-Cola Co has a fifty-two week low of $44.25 and a fifty-two week high of $54.82. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.71 and a current ratio of 0.83. The company has a market capitalization of $230.39 billion, a P/E ratio of 25.89, a P/E/G ratio of 3.75 and a beta of 0.48. The business’s 50 day simple moving average is $52.90 and its 200 day simple moving average is $49.28.

The Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. The Coca-Cola had a net margin of 21.11% and a return on equity of 45.67%. The business had revenue of $10 billion during the quarter, compared to the consensus estimate of $9.86 billion. During the same quarter last year, the company earned $0.61 earnings per share. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, analysts forecast that The Coca-Cola Co will post 2.1 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date is Friday, September 13th. The Coca-Cola’s dividend payout ratio is presently 76.92%.

In other The Coca-Cola news, VP John Murphy sold 84,400 shares of The Coca-Cola stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $49.99, for a total value of $4,219,156.00. Following the completion of the transaction, the vice president now owns 133,715 shares of the company’s stock, valued at $6,684,412.85. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Nancy Quan sold 24,000 shares of The Coca-Cola stock in a transaction on Friday, August 16th. The stock was sold at an average price of $54.43, for a total transaction of $1,306,320.00. Following the completion of the transaction, the senior vice president now directly owns 189,049 shares of the company’s stock, valued at approximately $10,289,937.07. The disclosure for this sale can be found here. In the last ninety days, insiders sold 488,761 shares of company stock valued at $25,417,705. 1.33% of the stock is currently owned by corporate insiders.

About The Coca-Cola

The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plant–based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

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Institutional Ownership by Quarter for The Coca-Cola (NYSE:KO)

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