The Coca-Cola Company (NYSE:KO) Shares Sold by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. reduced its stake in shares of The Coca-Cola Company (NYSE:KO) by 0.8% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 75,963 shares of the company’s stock after selling 585 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Coca-Cola were worth $4,835,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tidemark LLC purchased a new position in Coca-Cola in the fourth quarter valued at $26,000. Private Wealth Management Group LLC purchased a new position in Coca-Cola in the fourth quarter valued at $27,000. Redmont Wealth Advisors LLC purchased a new position in Coca-Cola in the first quarter valued at $28,000. ESL Trust Services LLC purchased a new position in Coca-Cola in the first quarter valued at $28,000. Finally, Criterion Capital Advisors LLC purchased a new position in Coca-Cola in the fourth quarter valued at $30,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Coca-Cola

In other news, major shareholder Cola Co Coca sold 598,619 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $925.00, for a total value of $553,722,575.00. Following the transaction, the insider now directly owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Nancy Quan sold 19,304 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The shares were 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 in the company, valued at approximately $14,168,055.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Cola Co Coca sold 598,619 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the sale, the insider now directly owns 1,883,546 shares in the company, valued at $1,742,280,050. The disclosure for this sale can be found here. Insiders have sold 871,162 shares of company stock worth $571,697,887 in the last ninety days. 0.97% of the stock is owned by insiders.

Wall Street Analyst Weigh In

KO has been the subject of a number of recent analyst reports. Argus lifted their price objective on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, May 22nd. TD Cowen boosted their target price on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. StockNews.com cut shares of Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Barclays boosted their target price on shares of Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $70.20.

Coca-Cola Trading Down 0.4 %

NYSE:KO traded down $0.29 on Monday, hitting $68.89. The stock had a trading volume of 5,271,396 shares, compared to its average volume of 13,004,785. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The stock has a market cap of $296.78 billion, a price-to-earnings ratio of 27.63, a PEG ratio of 3.80 and a beta of 0.59. The company has a fifty day moving average price of $65.11 and a two-hundred day moving average price of $62.40. The Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $69.67.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, beating 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%. Coca-Cola’s revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.78 EPS. Equities research analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a $0.485 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.94 annualized dividend and a yield of 2.82%. Coca-Cola’s payout ratio is 77.60%.

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.