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Coca-Cola EVP Nancy Quan sells $2.3m in company stock

Published 05/10/2024, 02:36 AM
© Reuters.

Coca-Cola Company (NYSE:KO) executive Nancy Quan, who serves as the Executive Vice President, has recently engaged in significant stock transactions, according to a new SEC filing. Quan sold 37,368 shares of Coca-Cola stock at a weighted average price of $62.28, totaling approximately $2.3 million. This sale occurred on May 7, 2024, as part of a series of transactions that also involved acquiring the same number of shares through option exercises.

Investors tracking insider transactions will note that the price range for the shares sold by Quan was between $62.255 and $62.315, with the transactions conducted in multiple parts. The executive also exercised options to acquire 37,368 shares of common stock at a price of $41.89 per share, which amounted to a total of approximately $1.57 million.

The filing also indicated that following these transactions, Quan's direct holdings in the company amounted to 223,330 shares of Coca-Cola common stock. Additionally, the executive has indirect ownership of 5,229 shares through The Coca-Cola Company 401(k) Plan and 9,690 hypothetical shares by the Supplemental 401(k) Plan, as of the reporting date.

These transactions are part of the regular financial activities executives undertake, and the details are publicly disclosed for transparency and regulatory compliance. Shareholders and potential investors often monitor such insider activities for insights into executive confidence and company performance.

InvestingPro Insights

The Coca-Cola Company's (NYSE:KO) recent insider transactions coincide with a period where the stock is trading near its 52-week high, with the price at 98.16% of this peak. The executive's transactions align with Coca-Cola's financial stability and growth, as reflected in the company's latest metrics. With a market capitalization of $271.7 billion and a solid revenue growth of 5.93% over the last twelve months as of Q1 2024, Coca-Cola continues to demonstrate its strength in the Beverages industry.

InvestingPro data also reveals that Coca-Cola has an impressive gross profit margin of 59.98% and an operating income margin of 29.4%, indicating efficient operations and profitability. This is further supported by a dividend yield of 3.09% and a 5.43% dividend growth, emphasizing the company's commitment to returning value to shareholders. Notably, Coca-Cola has raised its dividend for 53 consecutive years, a testament to its financial resilience and shareholder-friendly policies.

For investors seeking deeper analysis, PRONEWS24 offers an additional 10% off a yearly or biyearly Pro and Pro+ subscription, which includes access to further InvestingPro Tips. Currently, there are 14 additional tips available on InvestingPro for Coca-Cola, including perspectives on earnings revisions, valuation multiples, and stock volatility, which can provide valuable insights for both current shareholders and potential investors.

While the P/E ratio is relatively high at 25.23, indicating a premium valuation relative to near-term earnings growth, the company's consistent profitability and leading market position may justify this for certain investors. With the next earnings date scheduled for July 23, 2024, close monitoring of Coca-Cola's performance and insider transactions like those of Executive Vice President Nancy Quan can offer important cues about the company's trajectory.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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