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Coca-Cola exec sells over $1.2m in company stock

Published 05/09/2024, 04:00 AM
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In a recent move, a top executive at Coca-Cola Co (NYSE:KO) has sold a significant number of shares in the company. Mark Randazza, who serves as the Senior Vice President, sold 20,627 shares of Coca-Cola stock on May 7, 2024. The shares were sold at a weighted average price of $62.2857, with prices ranging from $62.255 to $62.325, netting a total of approximately $1,284,767.

The transaction was disclosed in a filing with the Securities and Exchange Commission. Coca-Cola’s stock has been a staple in many investment portfolios, and transactions of this magnitude are closely watched by investors for indications of executive confidence in the company's future prospects.

On the same day, Randazza also acquired the same number of shares, 20,627, through the exercise of options at a price of $41.885 per share. This transaction amounted to a total of $863,961. The options were part of a grant given under The Coca-Cola Company (NYSE:KO) 2014 Equity Plan, which became exercisable in increments over four years following the grant date.

Following these transactions, Randazza's direct holdings in Coca-Cola have changed, but he remains a significant shareholder. The sales and acquisition of shares reflect the ongoing adjustments within executive portfolios, which can be part of normal financial planning or a response to market conditions.

Investors often look at insider buying and selling as a barometer of confidence in the company's performance and outlook. With Coca-Cola being one of the world's most recognized brands, movements in executive shareholdings are noteworthy events.

Coca-Cola's shares are traded on the New York Stock Exchange, and the company continues to be a dominant player in the global beverage industry, with a broad portfolio of products and an expansive distribution network.

For those interested in the details of the transactions, the SEC filing provides full information, including the number of shares sold at each separate price upon request to the issuer or the SEC. Mark Randazza's transactions are a matter of public record and provide transparency into the actions of Coca-Cola's executive team.

InvestingPro Insights

Recent activities by Coca-Cola Co (NYSE:KO) executives have drawn attention to the company's stock performance and stability. With a robust market capitalization of $270.93 billion, Coca-Cola stands as a significant entity in the beverage industry. The company's shares, recently closing at $62.62, are trading close to their 52-week high, a testament to the company's enduring appeal among investors.

InvestingPro data highlights a Gross Profit Margin of nearly 60% in the last twelve months as of Q1 2024, showcasing Coca-Cola's impressive ability to maintain profitability amidst various market conditions. This is further supported by an Operating Income Margin of 29.4%, indicating efficient management and strong operational execution.

InvestingPro Tips for Coca-Cola reveal a consistent history of dividend payments, with the company having raised its dividend for 53 consecutive years, which could be a compelling factor for income-focused investors. Additionally, the stock exhibits low price volatility, providing a level of stability in an investor's portfolio.

For those looking to delve deeper into the financial health and forecasts for Coca-Cola, InvestingPro offers additional insights. There are 13 more InvestingPro Tips available, including analysts' earnings revisions and the stock's current valuation multiples. Interested investors can find these tips at https://www.investing.com/pro/KO and may use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, providing a more comprehensive understanding of Coca-Cola's investment potential.

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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