Butensky & Cohen Financial Security Inc. cut its holdings in shares of The Coca-Cola Company (NYSE:KO – Free Report) by 6.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 66,420 shares of the company’s stock after selling 4,353 shares during the quarter. Butensky & Cohen Financial Security Inc.’s holdings in Coca-Cola were worth $4,000,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in the business. Walker Financial Services Inc. increased its holdings in shares of Coca-Cola by 5.6% during the second quarter. Walker Financial Services Inc. now owns 21,711 shares of the company’s stock worth $1,307,000 after purchasing an additional 1,147 shares during the period. Legacy Bridge LLC increased its holdings in shares of Coca-Cola by 6.1% during the second quarter. Legacy Bridge LLC now owns 6,905 shares of the company’s stock worth $416,000 after purchasing an additional 400 shares during the period. Selective Wealth Management Inc. bought a new position in Coca-Cola in the second quarter valued at approximately $334,000. Buckingham Capital Management Inc. increased its stake in Coca-Cola by 11.2% in the second quarter. Buckingham Capital Management Inc. now owns 24,152 shares of the company’s stock valued at $1,454,000 after acquiring an additional 2,431 shares during the last quarter. Finally, Keystone Financial Planning Inc. increased its stake in Coca-Cola by 0.5% in the second quarter. Keystone Financial Planning Inc. now owns 37,760 shares of the company’s stock valued at $2,274,000 after acquiring an additional 172 shares during the last quarter. 68.96% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of analysts have weighed in on the stock. Barclays raised their target price on shares of Coca-Cola from $69.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, July 28th. JPMorgan Chase & Co. lifted their price target on shares of Coca-Cola from $67.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, July 27th. HSBC cut their price target on shares of Coca-Cola from $77.00 to $74.00 in a report on Wednesday, June 7th. Royal Bank of Canada lifted their target price on shares of Coca-Cola from $69.00 to $70.00 in a research note on Thursday, July 27th. Finally, Wedbush lifted their target price on shares of Coca-Cola from $70.00 to $71.00 and gave the stock an “outperform” rating in a research note on Thursday, July 27th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $68.33.
Coca-Cola Trading Down 0.0 %
NYSE:KO opened at $57.92 on Monday. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.14 and a quick ratio of 0.95. The firm has a 50-day moving average of $60.49 and a 200-day moving average of $61.25. The company has a market cap of $250.47 billion, a PE ratio of 23.84, a PEG ratio of 3.43 and a beta of 0.55. The Coca-Cola Company has a one year low of $54.01 and a one year high of $64.99.
Coca-Cola (NYSE:KO – Get Free Report) last posted its earnings results on Wednesday, July 26th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.72 by $0.06. The company had revenue of $12 billion during the quarter, compared to the consensus estimate of $11.74 billion. Coca-Cola had a net margin of 23.81% and a return on equity of 43.06%. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.70 earnings per share. As a group, equities research analysts expect that The Coca-Cola Company will post 2.63 EPS for the current fiscal year.
Coca-Cola Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend is Thursday, September 14th. Coca-Cola’s dividend payout ratio (DPR) is presently 75.72%.
Insider Buying and Selling
In related news, SVP Monica Howard Douglas sold 21,074 shares of the business’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $60.90, for a total transaction of $1,283,406.60. Following the transaction, the senior vice president now directly owns 18,360 shares in the company, valued at $1,118,124. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO John Murphy sold 156,290 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $62.10, for a total transaction of $9,705,609.00. Following the sale, the chief financial officer now directly owns 228,830 shares in the company, valued at approximately $14,210,343. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Monica Howard Douglas sold 21,074 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $60.90, for a total transaction of $1,283,406.60. Following the sale, the senior vice president now owns 18,360 shares in the company, valued at $1,118,124. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 227,364 shares of company stock worth $14,122,016. 1.00% of the stock is 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.
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