Webster Bank N. A. Sells 6,372 Shares of The Coca-Cola Company (NYSE:KO)

Webster Bank N. A. cut its holdings in shares of The Coca-Cola Company (NYSE:KO) by 27.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,879 shares of the company’s stock after selling 6,372 shares during the period. Webster Bank N. A.’s holdings in Coca-Cola were worth $1,016,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Whitener Capital Management Inc. lifted its stake in shares of Coca-Cola by 3.8% during the 2nd quarter. Whitener Capital Management Inc. now owns 25,711 shares of the company’s stock worth $1,548,000 after purchasing an additional 930 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Coca-Cola by 7.6% in the 2nd quarter. Pacer Advisors Inc. now owns 310,573 shares of the company’s stock valued at $18,703,000 after buying an additional 21,843 shares in the last quarter. Independent Wealth Network Inc. grew its holdings in Coca-Cola by 6.1% in the second quarter. Independent Wealth Network Inc. now owns 3,667 shares of the company’s stock worth $221,000 after purchasing an additional 211 shares during the last quarter. Constitution Capital LLC grew its stake in Coca-Cola by 172.3% during the 2nd quarter. Constitution Capital LLC now owns 30,910 shares of the company’s stock worth $1,861,000 after buying an additional 19,559 shares during the last quarter. Finally, Keel Point LLC increased its position in Coca-Cola by 6.1% during the 2nd quarter. Keel Point LLC now owns 17,358 shares of the company’s stock valued at $1,045,000 after buying an additional 993 shares in the last quarter. Institutional investors own 68.96% of the company’s stock.

Insider Buying and Selling

In other Coca-Cola news, CFO John Murphy sold 156,290 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $62.10, for a total transaction of $9,705,609.00. Following the completion of the transaction, the chief financial officer now owns 228,830 shares of the company’s stock, valued at $14,210,343. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Beatriz R. Perez sold 50,000 shares of the company’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $62.66, for a total transaction of $3,133,000.00. Following the completion of the sale, the senior vice president now owns 143,383 shares of the company’s stock, valued at approximately $8,984,378.78. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO John Murphy sold 156,290 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $62.10, for a total transaction of $9,705,609.00. Following the completion of the transaction, the chief financial officer now directly owns 228,830 shares in the company, valued at $14,210,343. The disclosure for this sale can be found here. In the last three months, insiders have sold 227,364 shares of company stock worth $14,122,016. Insiders own 1.00% of the company’s stock.

Coca-Cola Price Performance

KO traded down $0.06 during trading on Tuesday, hitting $58.24. The company’s stock had a trading volume of 5,792,098 shares, compared to its average volume of 13,117,189. The firm has a market capitalization of $251.85 billion, a price-to-earnings ratio of 23.99, a P/E/G ratio of 3.40 and a beta of 0.55. The Coca-Cola Company has a twelve month low of $54.01 and a twelve month high of $64.99. The business’s fifty day simple moving average is $60.49 and its 200 day simple moving average is $61.25. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 1.29.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Wednesday, July 26th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. The firm had revenue of $12 billion for the quarter, compared to analysts’ expectations of $11.74 billion. Coca-Cola had a net margin of 23.81% and a return on equity of 43.06%. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.70 EPS. On average, equities research analysts forecast that The Coca-Cola Company will post 2.63 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date is Thursday, September 14th. Coca-Cola’s dividend payout ratio is presently 75.72%.

Wall Street Analyst Weigh In

KO has been the topic of several research analyst reports. Wedbush boosted their target price on shares of Coca-Cola from $70.00 to $71.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. Royal Bank of Canada raised their price objective on Coca-Cola from $69.00 to $70.00 in a research note on Thursday, July 27th. HSBC dropped their target price on Coca-Cola from $77.00 to $74.00 in a research report on Wednesday, June 7th. StockNews.com began coverage on shares of Coca-Cola in a research report on Thursday, August 17th. They set a “buy” rating for the company. Finally, JPMorgan Chase & Co. upped their price objective on shares of Coca-Cola from $67.00 to $71.00 and gave the company an “overweight” rating in a report on Thursday, July 27th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus target price of $68.33.

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.