On November 14, 2023, Manuel Arroyo, the Executive Vice President of the Coca-Cola Company, sold 139,689 shares of the company’s stock in a transaction valued at approximately $9,889,981.20. The shares were sold at an average price of $70.80 each, resulting in a significant 70.64% reduction in Arroyo’s ownership. Following the sale, he retains 58,067 shares, worth around $4,111,143.60. The transaction has been disclosed in a filing with the Securities and Exchange Commission (SEC), which is available on their official website.
Coca-Cola Stock Performance and Market Context
During midday trading on November 17, Coca-Cola’s stock saw a modest increase of 0.1%, rising by $0.07 to reach $71.23. The trading volume for the day was 4,922,462 shares, significantly lower than its average volume of 16,681,313 shares. Over the past year, Coca-Cola shares have fluctuated, recording a low of $60.62 and a high of $74.38. The company currently has a market capitalization of $306.42 billion, a price-to-earnings (P/E) ratio of 23.59, and a beta of 0.43.
Coca-Cola’s financial health shows a debt-to-equity ratio of 1.30 and liquidity ratios with a quick ratio of 1.00 and a current ratio of 1.21. In its latest earnings report on March 27, 2023, Coca-Cola reported an earnings per share (EPS) of $0.55 and revenue of $11.40 billion. The company has demonstrated a return on equity of 43.62% and a net margin of 27.34%. Analysts forecast an EPS of $2.96 for the current fiscal year.
Institutional Investor Activity and Analyst Ratings
Recent trading activity among institutional investors reflects growing interest in Coca-Cola. Perigon Wealth Management LLC increased its holdings by 3.6% during the second quarter, now owning 130,164 shares valued at approximately $9,209,000. Meanwhile, UBS Asset Management boosted its position by 6.2%, acquiring an additional 1,794,561 shares worth $2.21 billion. Other notable investors include the Virginia Retirement Systems, which acquired a new position worth $22,443,000, and Banque Pictet & Cie SA, which increased its holdings by 72.6%, now owning 204,392 shares valued at $14,461,000.
Currently, hedge funds and institutional investors hold approximately 70.26% of Coca-Cola’s stock. Analysts have been largely positive regarding Coca-Cola’s performance, with research firms like Evercore ISI and Barclays reiterating “outperform” and “overweight” ratings, respectively. The consensus target price for Coca-Cola shares stands at $78.43, with one analyst rating it as a Strong Buy and sixteen as Buy.
As Coca-Cola continues to navigate the beverage market, attention will remain on both executive transactions and institutional investor activities that may influence stock performance in the coming months.
