The Coca-Cola Company (NYSE:KO) Shares Sold by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. lowered its position in The Coca-Cola Company (NYSE:KO) by 7.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 642,675 shares of the company’s stock after selling 49,833 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Coca-Cola were worth $40,906,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KO. Elwood & Goetz Wealth Advisory Group LLC raised its position in shares of Coca-Cola by 2.2% during the 2nd quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 6,871 shares of the company’s stock worth $437,000 after purchasing an additional 149 shares during the last quarter. Drive Wealth Management LLC raised its holdings in shares of Coca-Cola by 1.6% in the second quarter. Drive Wealth Management LLC now owns 9,824 shares of the company’s stock worth $630,000 after acquiring an additional 151 shares during the last quarter. Capital Advisors Ltd. LLC lifted its position in shares of Coca-Cola by 4.4% in the second quarter. Capital Advisors Ltd. LLC now owns 3,631 shares of the company’s stock valued at $231,000 after acquiring an additional 153 shares in the last quarter. Liberty Capital Management Inc. boosted its stake in shares of Coca-Cola by 3.7% during the second quarter. Liberty Capital Management Inc. now owns 4,319 shares of the company’s stock valued at $275,000 after acquiring an additional 155 shares during the last quarter. Finally, Azzad Asset Management Inc. ADV increased its position in Coca-Cola by 0.4% during the 2nd quarter. Azzad Asset Management Inc. ADV now owns 42,407 shares of the company’s stock worth $2,699,000 after purchasing an additional 160 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Coca-Cola news, insider Nikolaos Koumettis sold 80,891 shares of the company’s 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 of the company’s stock, valued at approximately $13,644,979.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Nancy Quan sold 18,482 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $68.95, for a total value of $1,274,333.90. Following the completion of the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,398,603.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nikolaos Koumettis sold 80,891 shares of Coca-Cola stock in a transaction on Friday, June 14th. The stock was sold at an average price of $62.34, for a total transaction of $5,042,744.94. Following the completion of the transaction, the insider now directly owns 218,880 shares of the company’s stock, valued at approximately $13,644,979.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,074,910 shares of company stock worth $585,972,318. 0.97% of the stock is currently owned by company insiders.

Coca-Cola Trading Down 0.0 %

Shares of Coca-Cola stock traded down $0.03 during trading hours on Friday, hitting $71.14. The company’s stock had a trading volume of 17,485,707 shares, compared to its average volume of 13,186,163. The business has a fifty day moving average of $67.48 and a 200 day moving average of $63.54. The Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $73.53. 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 capitalization of $306.47 billion, a PE ratio of 28.46, a P/E/G ratio of 4.05 and a beta of 0.60.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 43.62% and a net margin of 22.92%. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.78 EPS. As a group, equities analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The company also recently announced 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 2.73%. Coca-Cola’s payout ratio is currently 77.60%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on KO shares. Morgan Stanley raised their price target on shares of Coca-Cola from $70.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 27th. TD Cowen lifted 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. Royal Bank of Canada increased their price target on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Wells Fargo & Company lifted their price objective on Coca-Cola from $70.00 to $73.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Finally, BNP Paribas began coverage on Coca-Cola in a research note on Monday, June 24th. They issued an “outperform” rating and a $72.00 target price for the company. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.73.

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.