The Coca-Cola Company (NYSE:KO) Shares Sold by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. cut its holdings in The Coca-Cola Company (NYSE:KO) by 7.8% during the second quarter, Holdings Channel reports. The institutional investor owned 71,187 shares of the company’s stock after selling 6,012 shares during the period. Westwood Holdings Group Inc.’s holdings in Coca-Cola were worth $4,531,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Summit Trail Advisors LLC grew its holdings in shares of Coca-Cola by 3.0% during the second quarter. Summit Trail Advisors LLC now owns 21,816 shares of the company’s stock worth $1,399,000 after purchasing an additional 629 shares during the last quarter. Capstone Triton Financial Group LLC grew its holdings in shares of Coca-Cola by 3.2% during the second quarter. Capstone Triton Financial Group LLC now owns 40,609 shares of the company’s stock worth $2,585,000 after purchasing an additional 1,271 shares during the last quarter. Chesapeake Wealth Management grew its holdings in shares of Coca-Cola by 1.2% during the second quarter. Chesapeake Wealth Management now owns 21,935 shares of the company’s stock worth $1,396,000 after purchasing an additional 269 shares during the last quarter. Sei Investments Co. grew its holdings in shares of Coca-Cola by 3.0% during the second quarter. Sei Investments Co. now owns 1,753,046 shares of the company’s stock worth $111,581,000 after purchasing an additional 50,473 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ grew its holdings in shares of Coca-Cola by 1.0% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 822,104 shares of the company’s stock worth $52,323,000 after purchasing an additional 8,100 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Price Performance

Shares of NYSE:KO opened at $71.64 on Monday. 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 company has a market cap of $308.62 billion, a P/E ratio of 28.66, a PEG ratio of 3.93 and a beta of 0.60. The Coca-Cola Company has a 52 week low of $51.55 and a 52 week high of $73.53. The company has a 50-day moving average price of $69.13 and a 200 day moving average price of $64.37.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. The firm had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The firm’s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.78 earnings per share. Research analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a dividend of $0.485 per share. The ex-dividend date is Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.71%. Coca-Cola’s payout ratio is 77.60%.

Insider Activity

In other news, EVP Nancy Quan sold 19,304 shares of Coca-Cola stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $64.96, for a total transaction of $1,253,987.84. Following the completion of the sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $14,507,516.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Nancy Quan sold 19,304 shares of Coca-Cola stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $64.96, for a total transaction of $1,253,987.84. Following the completion of the sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $14,507,516.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Lisa Chang sold 58,122 shares of Coca-Cola stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $68.51, for a total value of $3,981,938.22. Following the transaction, the executive vice president now owns 74,067 shares of the company’s stock, valued at $5,074,330.17. The disclosure for this sale can be found here. In the last three months, insiders sold 974,715 shares of company stock worth $579,704,927. Company insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. raised their price objective on Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Wells Fargo & Company raised their price objective on Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Deutsche Bank Aktiengesellschaft raised their price objective on Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Cfra reissued a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Finally, Truist Financial raised their price target on Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $71.07.

About Coca-Cola

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.