Burke & Herbert Bank & Trust Co. Cuts Stake in CocaCola Company (The) (NYSE:KO)

Burke & Herbert Bank & Trust Co. trimmed its holdings in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 6.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 88,254 shares of the company's stock after selling 5,845 shares during the quarter. CocaCola makes up approximately 1.5% of Burke & Herbert Bank & Trust Co.'s investment portfolio, making the stock its 13th biggest holding. Burke & Herbert Bank & Trust Co.'s holdings in CocaCola were worth $6,321,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of KO. MorganRosel Wealth Management LLC purchased a new position in CocaCola in the first quarter worth $25,000. Crowley Wealth Management Inc. purchased a new position in CocaCola in the fourth quarter worth $27,000. Garde Capital Inc. purchased a new position in CocaCola in the first quarter worth $30,000. Mizuho Securities Co. Ltd. grew its holdings in CocaCola by 360.0% in the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock worth $33,000 after purchasing an additional 360 shares during the last quarter. Finally, REAP Financial Group LLC grew its holdings in CocaCola by 57.5% in the fourth quarter. REAP Financial Group LLC now owns 570 shares of the company's stock worth $35,000 after purchasing an additional 208 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on KO shares. UBS Group lifted their price target on shares of CocaCola from $84.00 to $86.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Morgan Stanley reiterated an "overweight" rating and set a $81.00 price objective on shares of CocaCola in a research note on Monday, June 9th. Cfra Research upgraded shares of CocaCola to a "strong-buy" rating in a research note on Tuesday, April 15th. Barclays reiterated an "overweight" rating on shares of CocaCola in a research note on Thursday, March 27th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of CocaCola from $74.00 to $78.00 and gave the stock an "overweight" rating in a research note on Monday, April 21st. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $76.27.

Insiders Place Their Bets

In other CocaCola news, CEO James Quincey sold 266,403 shares of the company's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $72.06, for a total value of $19,197,000.18. Following the completion of the transaction, the chief executive officer owned 275,946 shares in the company, valued at approximately $19,884,668.76. This represents a 49.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Beatriz R. Perez sold 60,326 shares of the company's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the completion of the transaction, the executive vice president owned 187,716 shares of the company's stock, valued at approximately $13,491,148.92. This trade represents a 24.32% 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 worth $29,923,985. Company insiders own 0.90% of the company's stock.

CocaCola Stock Performance

NYSE KO traded up $0.28 on Friday, reaching $71.19. 9,440,457 shares of the company's stock traded hands, compared to its average volume of 16,178,355. The firm has a market cap of $306.42 billion, a price-to-earnings ratio of 28.48, a P/E/G ratio of 3.74 and a beta of 0.45. The stock has a 50 day moving average price of $71.08 and a 200-day moving average price of $68.64. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.89 and a current ratio of 1.10.

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

CocaCola Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were given a $0.51 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.87%. CocaCola's dividend payout ratio (DPR) is currently 81.60%.

CocaCola Profile

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.