The Coca-Cola Company (NYSE:KO) Shares Sold by Taurus Asset Management LLC

Taurus Asset Management LLC lowered its stake in shares of The Coca-Cola Company (NYSE:KO) by 0.8% in the second quarter, HoldingsChannel reports. The fund owned 380,271 shares of the company’s stock after selling 3,175 shares during the quarter. Coca-Cola makes up about 2.5% of Taurus Asset Management LLC’s portfolio, making the stock its 14th largest position. Taurus Asset Management LLC’s holdings in Coca-Cola were worth $24,204,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Gilbert & Cook Inc. boosted its holdings in Coca-Cola by 5.6% in the fourth quarter. Gilbert & Cook Inc. now owns 15,971 shares of the company’s stock valued at $941,000 after acquiring an additional 841 shares during the last quarter. Accretive Wealth Partners LLC lifted its stake in shares of Coca-Cola by 1.4% in the 4th quarter. Accretive Wealth Partners LLC now owns 25,843 shares of the company’s stock valued at $1,523,000 after purchasing an additional 351 shares in the last quarter. Aveo Capital Partners LLC grew its holdings in shares of Coca-Cola by 13.9% during the 4th quarter. Aveo Capital Partners LLC now owns 9,709 shares of the company’s stock worth $572,000 after purchasing an additional 1,182 shares during the period. Gryphon Financial Partners LLC increased its position in Coca-Cola by 72.0% during the 4th quarter. Gryphon Financial Partners LLC now owns 17,973 shares of the company’s stock worth $1,034,000 after purchasing an additional 7,521 shares in the last quarter. Finally, Private Wealth Management Group LLC purchased a new position in Coca-Cola in the fourth quarter valued at approximately $27,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 19,304 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $14,507,516.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Nancy Quan sold 19,304 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 223,330 shares in the company, valued at $14,507,516.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola 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 completion of the transaction, the insider now owns 1,883,546 shares of the company’s stock, valued at $1,742,280,050. The disclosure for this sale can be found here. In the last quarter, insiders sold 974,715 shares of company stock worth $579,704,927. 0.97% of the stock is currently owned by corporate insiders.

Coca-Cola Stock Up 0.9 %

Shares of NYSE:KO opened at $71.41 on Friday. The Coca-Cola Company has a 12-month low of $51.55 and a 12-month high of $73.53. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The firm has a market cap of $307.77 billion, a PE ratio of 28.56, a price-to-earnings-growth ratio of 3.93 and a beta of 0.60. The company has a fifty day simple moving average of $68.28 and a 200 day simple moving average of $63.93.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. The business 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%. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.78 EPS. On average, equities research analysts anticipate that The Coca-Cola Company will post 2.85 EPS 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. Stockholders of record on Friday, September 13th will be given a $0.485 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.94 annualized dividend and a dividend yield of 2.72%. Coca-Cola’s payout ratio is 77.60%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on KO shares. Argus boosted their price objective on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. JPMorgan Chase & Co. increased their price target on Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Citigroup boosted their price objective on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Truist Financial increased their target price on Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, BNP Paribas started coverage on Coca-Cola in a research report on Monday, June 24th. They set an “outperform” rating and a $72.00 price target on the stock. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.73.

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.