Axa S.A. Reduces Holdings in The Coca-Cola Company (NYSE:KO)

Axa S.A. reduced its stake in shares of The Coca-Cola Company (NYSE:KO) by 0.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,333,330 shares of the company’s stock after selling 5,274 shares during the quarter. Axa S.A.’s holdings in Coca-Cola were worth $84,866,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of KO. New Millennium Group LLC purchased a new stake in shares of Coca-Cola in the 2nd quarter valued at about $26,000. ESL Trust Services LLC purchased a new stake in Coca-Cola in the first quarter valued at approximately $28,000. Redmont Wealth Advisors LLC purchased a new stake in Coca-Cola in the first quarter valued at approximately $28,000. DiNuzzo Private Wealth Inc. boosted its holdings in shares of Coca-Cola by 65.0% in the first quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock valued at $32,000 after acquiring an additional 206 shares during the period. Finally, Mount Lucas Management LP purchased a new position in shares of Coca-Cola during the second quarter worth approximately $38,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Price Performance

Shares of NYSE KO opened at $71.45 on Thursday. 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 Coca-Cola Company has a one year low of $51.55 and a one year high of $73.53. The firm has a market capitalization of $307.80 billion, a P/E ratio of 28.58, a PEG ratio of 3.97 and a beta of 0.60. The company’s fifty day moving average is $69.44 and its two-hundred day moving average is $64.54.

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

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 2.72%. The ex-dividend date is Friday, September 13th. Coca-Cola’s payout ratio is currently 77.60%.

Insider Buying and Selling

In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total value of $7,179,360.66. Following the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $30,987,070.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the completion of the transaction, the insider now directly owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James Quincey sold 102,533 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total value of $7,179,360.66. Following the sale, the chief executive officer now owns 442,546 shares in the company, valued at approximately $30,987,070.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 974,715 shares of company stock valued at $579,704,927. 0.97% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

KO has been the subject of several research reports. Truist Financial upped their price target on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. BNP Paribas started coverage on shares of Coca-Cola in a research note on Monday, June 24th. They set an “outperform” rating and a $72.00 target price for the company. Barclays boosted their price target on Coca-Cola from $69.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Finally, Wells Fargo & Company upped their price objective on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $71.07.

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.