The Coca-Cola Co (NYSE:KO) insider J Alexander Douglas, Jr. sold 22,000 shares of the stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $43.25, for a total transaction of $951,500.00. Following the completion of the sale, the insider now directly owns 319,436 shares of the company’s stock, valued at $13,815,607. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
The Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, April 25th. The company reported $0.43 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.44 by $0.01. The business had revenue of $9.12 billion for the quarter, compared to the consensus estimate of $8.85 billion. The Coca-Cola had a net margin of 15.59% and a return on equity of 32.94%. The business’s revenue was down 11.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.45 EPS.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Thursday, June 15th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, June 13th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.38%. The Coca-Cola’s dividend payout ratio is 93.33%.
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A number of equities analysts have recently issued reports on the stock. Barclays PLC set a $45.00 price objective on shares of The Coca-Cola and gave the company a “neutral” rating in a research note on Monday, May 15th. Morgan Stanley set a $45.00 price objective on shares of The Coca-Cola and gave the company a “neutral” rating in a research note on Monday, May 15th. Vetr upgraded shares of The Coca-Cola from a “hold” rating to a “buy” rating and set a $44.81 price objective for the company in a research note on Monday, May 1st. Wells Fargo & Co reiterated a “market perform” rating and set a $43.00 target price on shares of The Coca-Cola in a research report on Friday, April 28th. Finally, Credit Suisse Group AG reiterated a “buy” rating and set a $49.00 target price on shares of The Coca-Cola in a research report on Thursday, April 27th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the company’s stock. The Coca-Cola presently has a consensus rating of “Hold” and an average target price of $44.54.
Several institutional investors have recently made changes to their positions in KO. Chemung Canal Trust Co. boosted its position in shares of The Coca-Cola by 4.6% in the first quarter. Chemung Canal Trust Co. now owns 230,132 shares of the company’s stock worth $9,767,000 after buying an additional 10,019 shares in the last quarter. Lowe Brockenbrough & Co. Inc. boosted its position in shares of The Coca-Cola by 5.6% in the first quarter. Lowe Brockenbrough & Co. Inc. now owns 139,135 shares of the company’s stock worth $5,905,000 after buying an additional 7,418 shares in the last quarter. Financial Advisors Network Inc. boosted its position in shares of The Coca-Cola by 5.7% in the first quarter. Financial Advisors Network Inc. now owns 16,323 shares of the company’s stock worth $712,000 after buying an additional 874 shares in the last quarter. Brighton Jones LLC boosted its position in shares of The Coca-Cola by 112.1% in the first quarter. Brighton Jones LLC now owns 17,817 shares of the company’s stock worth $756,000 after buying an additional 9,417 shares in the last quarter. Finally, Aristotle Capital Management LLC boosted its position in shares of The Coca-Cola by 6.5% in the first quarter. Aristotle Capital Management LLC now owns 5,211,828 shares of the company’s stock worth $221,190,000 after buying an additional 318,371 shares in the last quarter. 63.88% of the stock is currently owned by institutional investors.
The Coca-Cola Company Profile
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets non-alcoholic beverage brands, primarily sparkling beverages and a range of still beverages, such as waters, flavored waters and enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, sports drinks, dairy and energy drinks.
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