Octavia Wealth Advisors LLC Sells 14,454 Shares of The Coca-Cola Company (NYSE:KO)

Octavia Wealth Advisors LLC trimmed its holdings in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 62.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,777 shares of the company's stock after selling 14,454 shares during the period. Octavia Wealth Advisors LLC's holdings in Coca-Cola were worth $633,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of KO. International Private Wealth Advisors LLC bought a new position in Coca-Cola during the 1st quarter worth approximately $341,000. Pallas Capital Advisors LLC boosted its stake in shares of Coca-Cola by 4.3% during the first quarter. Pallas Capital Advisors LLC now owns 143,382 shares of the company's stock valued at $10,269,000 after purchasing an additional 5,891 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of Coca-Cola by 37.5% in the first quarter. Farther Finance Advisors LLC now owns 54,967 shares of the company's stock worth $3,950,000 after purchasing an additional 14,980 shares during the last quarter. City Holding Co. grew its holdings in shares of Coca-Cola by 1.5% in the first quarter. City Holding Co. now owns 97,170 shares of the company's stock worth $6,958,000 after purchasing an additional 1,445 shares during the last quarter. Finally, Portside Wealth Group LLC increased its stake in shares of Coca-Cola by 6.0% in the first quarter. Portside Wealth Group LLC now owns 42,812 shares of the company's stock worth $3,066,000 after buying an additional 2,412 shares during the period. Hedge funds and other institutional investors own 70.26% of the company's stock.

Insider Buying and Selling

In related news, CEO James Quincey sold 266,403 shares of the company's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the completion of the sale, the chief executive officer now owns 275,946 shares in the company, valued at approximately $19,884,668.76. This represents a 49.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Henrique Braun sold 25,277 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $71.47, for a total transaction of $1,806,547.19. Following the completion of the transaction, the chief operating officer now directly owns 52,466 shares in the company, valued at approximately $3,749,745.02. The trade was a 32.51% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 440,664 shares of company stock worth $31,730,532. 0.97% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Cfra Research raised shares of Coca-Cola to a "strong-buy" rating in a research report on Tuesday, April 15th. Morgan Stanley increased their target price on shares of Coca-Cola from $76.00 to $78.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. DZ Bank raised Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 target price on the stock in a research note on Thursday, February 13th. UBS Group upped their price target on Coca-Cola from $84.00 to $86.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. Finally, Royal Bank of Canada lifted their price objective on Coca-Cola from $73.00 to $76.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Coca-Cola has an average rating of "Buy" and a consensus price target of $75.81.

Coca-Cola Price Performance

KO opened at $71.37 on Monday. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The stock has a fifty day simple moving average of $71.39 and a two-hundred day simple moving average of $67.63. The company has a market cap of $307.20 billion, a price-to-earnings ratio of 28.89, a price-to-earnings-growth ratio of 3.79 and a beta of 0.46. The Coca-Cola Company has a 12-month low of $60.62 and a 12-month high of $74.38.

Coca-Cola (NYSE:KO - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.71 by $0.02. The business had revenue of $11.13 billion during the quarter, compared to analysts' expectations of $11.23 billion. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The firm's quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.72 earnings per share. Research analysts predict that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 annualized dividend and a yield of 2.86%. Coca-Cola's dividend payout ratio is 81.60%.

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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