CocaCola Company (The) $KO Shares Bought by Cullen Frost Bankers Inc.

Key Points

• Cullen Frost Bankers Inc. increased its stake in Coca-Cola by 2.6%, owning 644,460 shares worth approximately $45.6 million after acquiring additional shares in the second quarter.
• Coca-Cola's recent earnings report showed an EPS of $0.55 and revenue of $11.4 billion for the quarter, with an anticipated EPS of $2.96 for the current fiscal year.
• The company will pay a quarterly dividend of $0.51 per share on December 15th, representing a 2.9% dividend yield with a payout ratio of 72.34%.

Cullen Frost Bankers Inc. lifted its stake in CocaCola Company (The) (NYSE:KO - Free Report) by 2.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 644,460 shares of the company's stock after acquiring an additional 16,280 shares during the quarter. Cullen Frost Bankers Inc.'s holdings in CocaCola were worth $45,596,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. MorganRosel Wealth Management LLC acquired a new position in shares of CocaCola in the 1st quarter worth approximately $25,000. 1248 Management LLC purchased a new stake in shares of CocaCola during the first quarter worth $26,000. Ridgewood Investments LLC increased its position in shares of CocaCola by 148.4% during the first quarter. Ridgewood Investments LLC now owns 477 shares of the company's stock worth $34,000 after acquiring an additional 285 shares during the period. GFG Capital LLC purchased a new stake in shares of CocaCola during the second quarter worth $34,000. Finally, University of Texas Texas AM Investment Management Co. purchased a new stake in shares of CocaCola during the first quarter worth $42,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

CocaCola Stock Performance

Shares of KO opened at $71.22 on Wednesday. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.49. The stock has a market cap of $306.51 billion, a P/E ratio of 25.26, a PEG ratio of 3.57 and a beta of 0.43. The company has a 50-day moving average of $67.80 and a two-hundred day moving average of $69.70. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38.

CocaCola (NYSE:KO - Get Free Report) last announced its earnings results on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. The company had revenue of $11.40 billion during the quarter. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. As a group, research analysts predict that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.04 annualized dividend and a dividend yield of 2.9%. CocaCola's dividend payout ratio is presently 72.34%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company reduced their price objective on shares of CocaCola from $78.00 to $75.00 and set an "overweight" rating on the stock in a report on Thursday, September 25th. BNP Paribas reaffirmed an "outperform" rating and issued a $83.00 target price on shares of CocaCola in a research report on Monday, July 21st. Evercore ISI reaffirmed an "outperform" rating on shares of CocaCola in a research report on Tuesday. JPMorgan Chase & Co. lifted their price objective on shares of CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Finally, UBS Group lowered their target price on shares of CocaCola from $84.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, September 11th. One research analyst has rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $77.23.

Insider Activity

In related news, insider Nikolaos Koumettis sold 37,396 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total transaction of $2,584,063.60. Following the transaction, the insider owned 209,513 shares of the company's stock, valued at approximately $14,477,348.30. This represents a 15.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.90% of the company's stock.

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.

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