Webster Bank N. A. reduced its position in The Coca-Cola Company (NYSE:KO – Free Report) by 11.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 10,366 shares of the company’s stock after selling 1,331 shares during the quarter. Webster Bank N. A.’s holdings in Coca-Cola were worth $745,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the business. Swedbank AB acquired a new position in shares of Coca-Cola during the 1st quarter worth $102,604,000. BDF Gestion bought a new stake in shares of Coca-Cola during the 2nd quarter valued at about $7,421,000. Duality Advisers LP boosted its position in shares of Coca-Cola by 191.1% during the first quarter. Duality Advisers LP now owns 111,851 shares of the company’s stock worth $6,843,000 after buying an additional 73,434 shares during the period. TD Asset Management Inc boosted its position in shares of Coca-Cola by 0.7% during the 1st quarter. TD Asset Management Inc now owns 2,935,238 shares of the company’s stock valued at $179,578,000 after purchasing an additional 20,048 shares in the last quarter. Finally, New Mexico Educational Retirement Board grew its holdings in shares of Coca-Cola by 11.6% during the first quarter. New Mexico Educational Retirement Board now owns 226,020 shares of the company’s stock valued at $14,013,000 after buying an additional 23,500 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other Coca-Cola news, EVP Nancy Quan sold 19,304 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $64.96, for a total value of $1,253,987.84. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $14,507,516.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Bruno Pietracci sold 38,653 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total transaction of $2,667,443.53. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Nancy Quan sold 19,304 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $64.96, for a total value of $1,253,987.84. Following the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $14,507,516.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 376,096 shares of company stock valued at $25,982,352. 0.97% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Coca-Cola Trading Up 0.5 %
Shares of Coca-Cola stock traded up $0.32 on Friday, reaching $69.57. The company had a trading volume of 8,786,318 shares, compared to its average volume of 13,216,886. The Coca-Cola Company has a 52-week low of $52.43 and a 52-week high of $73.53. The firm’s 50 day moving average price is $70.51 and its two-hundred day moving average price is $65.43. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08. The firm has a market cap of $299.70 billion, a PE ratio of 27.83, a PEG ratio of 3.92 and a beta of 0.60.
Coca-Cola (NYSE:KO – Get Free Report) last released its quarterly earnings data 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. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The business had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.78 billion. During the same period in the previous year, the company posted $0.78 EPS. The company’s revenue was up 3.3% compared to the same quarter last year. Sell-side analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.
Coca-Cola Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend was Friday, September 13th. Coca-Cola’s payout ratio is currently 77.60%.
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.
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