VeraBank N.A. lowered its stake in shares of The Coca-Cola Co (NYSE:KO) by 1.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,561 shares of the company’s stock after selling 450 shares during the period. The Coca-Cola makes up 1.2% of VeraBank N.A.’s portfolio, making the stock its 28th biggest position. VeraBank N.A.’s holdings in The Coca-Cola were worth $1,282,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of KO. Ellis Investment Partners LLC lifted its holdings in The Coca-Cola by 4,385.3% in the 1st quarter. Ellis Investment Partners LLC now owns 248,755 shares of the company’s stock valued at $248,000 after acquiring an additional 243,209 shares during the last quarter. Mechanics Bank Trust Department lifted its holdings in The Coca-Cola by 81.9% in the 1st quarter. Mechanics Bank Trust Department now owns 65,154 shares of the company’s stock valued at $3,053,000 after acquiring an additional 29,344 shares during the last quarter. CMC Financial Group acquired a new stake in The Coca-Cola during the 1st quarter worth about $217,000. Steinberg Global Asset Management raised its holdings in The Coca-Cola by 2.0% during the 1st quarter. Steinberg Global Asset Management now owns 25,175 shares of the company’s stock worth $1,180,000 after buying an additional 491 shares during the period. Finally, Bridgeworth LLC raised its holdings in The Coca-Cola by 8.5% during the 1st quarter. Bridgeworth LLC now owns 19,281 shares of the company’s stock worth $904,000 after buying an additional 1,505 shares during the period. Hedge funds and other institutional investors own 67.48% of the company’s stock.
KO has been the topic of several recent analyst reports. ValuEngine downgraded The Coca-Cola from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Royal Bank of Canada restated a “buy” rating and set a $60.00 price objective on shares of The Coca-Cola in a report on Wednesday, July 24th. Morgan Stanley set a $60.00 price objective on The Coca-Cola and gave the stock a “buy” rating in a report on Tuesday, September 3rd. BMO Capital Markets boosted their price objective on The Coca-Cola from $48.00 to $52.00 and gave the stock a “market perform” rating in a report on Wednesday, July 24th. Finally, Bank of America restated a “buy” rating and set a $60.00 price objective (up previously from $55.00) on shares of The Coca-Cola in a report on Wednesday, July 24th. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $54.26.
In other The Coca-Cola news, SVP Lisa Chang bought 500 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were bought at an average price of $53.24 per share, for a total transaction of $26,620.00. Following the acquisition, the senior vice president now directly owns 5,448 shares of the company’s stock, valued at $290,051.52. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nikolaos Koumettis sold 146,000 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $54.31, for a total value of $7,929,260.00. Following the completion of the transaction, the insider now owns 244,451 shares in the company, valued at approximately $13,276,133.81. The disclosure for this sale can be found here. Insiders sold a total of 429,638 shares of company stock worth $23,411,372 in the last quarter. 1.33% of the stock is owned by corporate insiders.
Shares of KO traded down $0.17 during trading hours on Friday, reaching $53.49. The company’s stock had a trading volume of 5,268,649 shares, compared to its average volume of 11,184,790. The firm has a market cap of $229.11 billion, a price-to-earnings ratio of 25.72, a P/E/G ratio of 3.73 and a beta of 0.45. The Coca-Cola Co has a 1-year low of $44.25 and a 1-year high of $55.92. The company has a quick ratio of 0.71, a current ratio of 0.83 and a debt-to-equity ratio of 1.44. The company has a 50 day moving average of $54.39 and a two-hundred day moving average of $51.22.
The Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, July 23rd. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. The company had revenue of $10 billion for the quarter, compared to the consensus estimate of $9.86 billion. The Coca-Cola had a return on equity of 45.67% and a net margin of 21.11%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.61 EPS. As a group, analysts forecast that The Coca-Cola Co will post 2.1 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.99%. The Coca-Cola’s dividend payout ratio is 76.92%.
The Coca-Cola Company Profile
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plant-based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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