Amalgamated Bank Acquires 14,646 Shares of CocaCola Company (The) (NYSE:KO)

Amalgamated Bank lifted its holdings in CocaCola Company (The) (NYSE:KO - Free Report) by 1.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 804,722 shares of the company's stock after buying an additional 14,646 shares during the quarter. CocaCola makes up about 0.5% of Amalgamated Bank's portfolio, making the stock its 24th biggest position. Amalgamated Bank's holdings in CocaCola were worth $57,634,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Garde Capital Inc. bought a new stake in shares of CocaCola during the first quarter valued at approximately $30,000. Crowley Wealth Management Inc. purchased a new stake in shares of CocaCola in the 4th quarter worth $27,000. Mizuho Securities Co. Ltd. grew its position in shares of CocaCola by 360.0% during the 1st quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock worth $33,000 after buying an additional 360 shares in the last quarter. Moser Wealth Advisors LLC increased its stake in shares of CocaCola by 449.5% during the first quarter. Moser Wealth Advisors LLC now owns 500 shares of the company's stock valued at $36,000 after buying an additional 409 shares during the period. Finally, Mainstream Capital Management LLC purchased a new position in shares of CocaCola during the fourth quarter valued at $31,000. 70.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of CocaCola from $74.00 to $78.00 and gave the stock an "overweight" rating in a report on Monday, April 21st. Royal Bank Of Canada increased their price objective on shares of CocaCola from $73.00 to $76.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Cfra Research raised shares of CocaCola to a "strong-buy" rating in a report on Tuesday, April 15th. Morgan Stanley restated an "overweight" rating and set a $81.00 target price on shares of CocaCola in a report on Monday, June 9th. Finally, UBS Group increased their target price on CocaCola from $84.00 to $86.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $76.27.

CocaCola Stock Up 1.4%

Shares of KO stock opened at $70.42 on Monday. The stock's fifty day moving average price is $71.25 and its 200 day moving average price is $68.35. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The company has a market cap of $303.11 billion, a price-to-earnings ratio of 28.17, a price-to-earnings-growth ratio of 3.69 and a beta of 0.46. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.10 and a quick ratio of 0.89.

CocaCola (NYSE:KO - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates of $0.71 by $0.02. The business had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.23 billion. CocaCola had a return on equity of 45.49% and a net margin of 23.00%. The company's revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.72 earnings per share. On average, research analysts expect that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a yield of 2.90%. CocaCola's payout ratio is 81.60%.

Insiders Place Their Bets

In related news, CFO John Murphy sold 88,658 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total value of $6,391,355.22. Following the transaction, the chief financial officer now owns 205,511 shares in the company, valued at approximately $14,815,287.99. This represents a 30.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James Quincey sold 266,403 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the completion of the sale, the chief executive officer now owns 275,946 shares in the company, valued at $19,884,668.76. The trade was a 49.12% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 415,387 shares of company stock valued at $29,923,985. Insiders own 0.90% of the company's stock.

About CocaCola

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

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