Equitable Trust Co. Has $9.60 Million Stock Holdings in CocaCola Company (The) $KO

Key Points

• Equitable Trust Co. increased its holdings in Coca-Cola by 42.7%, acquiring a total of 135,718 shares worth approximately $9.6 million.
• Recent analyst ratings for Coca-Cola indicate a consensus Buy rating and an average target price of $76.93, with several firms adjusting their targets downward.
• Coca-Cola announced a quarterly dividend of $0.51 per share, equating to an annual yield of 3.1%, with a payout ratio of 72.34%.

Equitable Trust Co. raised its stake in CocaCola Company (The) (NYSE:KO - Free Report) by 42.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 135,718 shares of the company's stock after acquiring an additional 40,597 shares during the quarter. Equitable Trust Co.'s holdings in CocaCola were worth $9,602,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. MorganRosel Wealth Management LLC acquired a new stake in shares of CocaCola during the first quarter worth $25,000. 1248 Management LLC bought a new stake in shares of CocaCola in the first quarter valued at approximately $26,000. Garde Capital Inc. bought a new stake in shares of CocaCola in the first quarter valued at approximately $30,000. Mizuho Securities Co. Ltd. boosted its stake in shares of CocaCola by 360.0% in the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock valued at $33,000 after buying an additional 360 shares during the period. Finally, Ridgewood Investments LLC raised its holdings in CocaCola by 148.4% in the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company's stock valued at $34,000 after acquiring an additional 285 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on KO shares. BNP Paribas restated an "outperform" rating and issued a $83.00 price target on shares of CocaCola in a research report on Monday, July 21st. Weiss Ratings reiterated a "buy (b-)" rating on shares of CocaCola in a research note on Wednesday, October 8th. Royal Bank Of Canada set a $76.00 price target on shares of CocaCola and gave the stock an "outperform" rating in a report on Monday, July 21st. Wells Fargo & Company lowered their price objective on shares of CocaCola from $78.00 to $75.00 and set an "overweight" rating for the company in a research report on Thursday, September 25th. Finally, UBS Group lowered their price objective on shares of CocaCola from $84.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the company's stock. Based on data from MarketBeat.com, CocaCola has a consensus rating of "Buy" and an average target price of $76.93.

CocaCola Trading Down 0.4%

NYSE KO opened at $66.76 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The company has a market cap of $287.29 billion, a price-to-earnings ratio of 23.67, a price-to-earnings-growth ratio of 3.49 and a beta of 0.43. The business's fifty day moving average is $68.01 and its 200 day moving average is $69.82.

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

CocaCola Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Monday, September 15th. CocaCola's payout ratio is presently 72.34%.

Insider Activity at CocaCola

In other news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction 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 in the company, valued at approximately $14,477,348.30. The trade was a 15.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company 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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