The Coca-Cola Company (NYSE:KO) Shares Sold by WESPAC Advisors SoCal LLC

WESPAC Advisors SoCal LLC trimmed its holdings in The Coca-Cola Company (NYSE:KO) by 49.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 70,198 shares of the company’s stock after selling 69,461 shares during the quarter. WESPAC Advisors SoCal LLC’s holdings in Coca-Cola were worth $4,295,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in KO. Tidemark LLC acquired a new stake in shares of Coca-Cola in the fourth quarter valued at approximately $26,000. Private Wealth Management Group LLC purchased a new stake in shares of Coca-Cola during the fourth quarter worth approximately $27,000. ZRC Wealth Management LLC raised its stake in shares of Coca-Cola by 213.3% during the fourth quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock worth $26,000 after purchasing an additional 320 shares during the last quarter. Criterion Capital Advisors LLC purchased a new stake in shares of Coca-Cola during the fourth quarter worth approximately $30,000. Finally, Frazier Financial Advisors LLC purchased a new stake in shares of Coca-Cola during the fourth quarter worth approximately $31,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. UBS Group upped their price target on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Morgan Stanley increased their price objective on Coca-Cola from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, June 10th. Evercore ISI increased their price objective on Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. StockNews.com cut Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, June 14th. Finally, BNP Paribas initiated coverage on Coca-Cola in a research report on Monday, June 24th. They issued an “outperform” rating and a $72.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.83.

Insider Activity at Coca-Cola

In other Coca-Cola news, insider Nikolaos Koumettis sold 80,891 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $62.34, for a total value of $5,042,744.94. Following the sale, the insider now directly owns 218,880 shares of the company’s stock, valued at approximately $13,644,979.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Nancy Quan sold 19,304 shares of Coca-Cola stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $63.44, for a total value of $1,224,645.76. Following the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $14,168,055.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nikolaos Koumettis sold 80,891 shares of Coca-Cola stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $62.34, for a total value of $5,042,744.94. Following the completion of the transaction, the insider now directly owns 218,880 shares in the company, valued at $13,644,979.20. The disclosure for this sale can be found here. Insiders have sold a total of 223,665 shares of company stock valued at $13,995,465 over the last quarter. Insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

Shares of KO stock traded down $0.37 during mid-day trading on Monday, reaching $63.28. The stock had a trading volume of 10,016,643 shares, compared to its average volume of 13,101,016. The Coca-Cola Company has a 12-month low of $51.55 and a 12-month high of $64.36. The company has a market cap of $272.61 billion, a P/E ratio of 25.33, a price-to-earnings-growth ratio of 3.60 and a beta of 0.59. The business has a 50-day simple moving average of $62.72 and a 200 day simple moving average of $60.78. The company has a current ratio of 1.04, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. The business had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $11.01 billion. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the business posted $0.68 earnings per share. On average, sell-side analysts anticipate that The Coca-Cola Company will post 2.82 earnings per share for the current year.

Coca-Cola Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend is Friday, June 14th. Coca-Cola’s payout ratio is currently 77.60%.

Coca-Cola 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.