Apollon Wealth Management LLC Sells 906 Shares of The Coca-Cola Company (NYSE:KO)

12 Nov 2024, 18:26 by Michael Walen · The Markets Daily

Apollon Wealth Management LLC lowered its position in The Coca-Cola Company (NYSE:KO – Free Report) by 0.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 104,683 shares of the company’s stock after selling 906 shares during the period. Apollon Wealth Management LLC’s holdings in Coca-Cola were worth $7,523,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. New Millennium Group LLC bought a new position in shares of Coca-Cola in the second quarter valued at approximately $26,000. Quarry LP bought a new position in Coca-Cola in the 2nd quarter worth approximately $27,000. ESL Trust Services LLC bought a new position in Coca-Cola in the 1st quarter worth approximately $28,000. Hara Capital LLC bought a new position in Coca-Cola in the 3rd quarter worth approximately $35,000. Finally, E Fund Management Hong Kong Co. Ltd. bought a new position in Coca-Cola in the 3rd quarter worth approximately $36,000. Institutional investors own 70.26% of the company’s stock.

Insiders Place Their Bets

In other news, CEO James Quincey sold 102,533 shares of the company’s stock in a transaction dated 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 directly owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO James Quincey sold 102,533 shares of the company’s stock in a transaction dated 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 directly owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lisa Chang sold 40,334 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $69.54, for a total transaction of $2,804,826.36. Following the completion of the transaction, the executive vice president now owns 74,067 shares in the company, valued at approximately $5,150,619.18. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 203,748 shares of company stock valued at $14,274,431 in the last three months. 0.97% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Citigroup boosted their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Royal Bank of Canada boosted their price objective on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Morgan Stanley lowered their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Finally, Barclays lowered their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $71.80.

Check Out Our Latest Report on Coca-Cola

Coca-Cola Price Performance

Shares of NYSE KO opened at $63.37 on Tuesday. The firm has a market cap of $272.99 billion, a PE ratio of 26.19, a PEG ratio of 3.88 and a beta of 0.61. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The Coca-Cola Company has a 1-year low of $56.60 and a 1-year high of $73.53. The company has a fifty day moving average price of $69.56 and a 200 day moving average price of $66.51.

Coca-Cola (NYSE:KO – Get Free Report) last announced its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The firm had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The company’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.74 EPS. Research analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 3.06%. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

Coca-Cola Profile

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