First Business Financial Services Inc. Purchases 15,234 Shares of CocaCola Company (The) $KO

Key Points

• First Business Financial Services Inc. increased its stake in CocaCola by 66.5%, acquiring an additional 15,234 shares, bringing its total holdings to 38,152 shares valued at approximately $2.7 million.
• Analyst ratings for CocaCola remain positive, with a consensus price target of $78.31 and several brokerages, including BNP Paribas and TD Cowen, issuing "outperform" and "buy" ratings.
• CocaCola announced a quarterly dividend of $0.51, set to be paid on December 15th, with an annualized dividend yield of 2.9% and a payout ratio of 67.55%.

First Business Financial Services Inc. boosted its holdings in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 66.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,152 shares of the company's stock after buying an additional 15,234 shares during the period. First Business Financial Services Inc.'s holdings in CocaCola were worth $2,699,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the business. Perigon Wealth Management LLC lifted its holdings in shares of CocaCola by 3.6% during the second quarter. Perigon Wealth Management LLC now owns 130,164 shares of the company's stock valued at $9,209,000 after acquiring an additional 4,469 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of CocaCola by 6.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 30,889,415 shares of the company's stock worth $2,212,300,000 after buying an additional 1,794,561 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in CocaCola during the 2nd quarter worth approximately $22,443,000. Roundview Capital LLC boosted its stake in CocaCola by 9.1% in the second quarter. Roundview Capital LLC now owns 34,965 shares of the company's stock worth $2,474,000 after purchasing an additional 2,923 shares in the last quarter. Finally, Banque Pictet & Cie SA raised its holdings in shares of CocaCola by 72.6% in the second quarter. Banque Pictet & Cie SA now owns 204,392 shares of the company's stock valued at $14,461,000 after buying an additional 85,950 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on KO. BNP Paribas reaffirmed an "outperform" rating and issued a $83.00 target price on shares of CocaCola in a research note on Monday, July 21st. TD Cowen upped their price objective on CocaCola from $75.00 to $80.00 and gave the stock a "buy" rating in a report on Wednesday. Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the company an "outperform" rating in a research note on Monday, July 21st. Barclays reiterated an "overweight" rating on shares of CocaCola in a research report on Thursday. Finally, JPMorgan Chase & Co. upped their target price on shares of CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $78.31.

CocaCola Trading Down 1.1%

Shares of NYSE KO opened at $70.01 on Friday. The stock has a market cap of $301.32 billion, a price-to-earnings ratio of 23.18, a P/E/G ratio of 3.69 and a beta of 0.43. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.30. The company's fifty day moving average is $67.82 and its 200-day moving average is $69.72.

CocaCola (NYSE:KO - Get Free Report) last released its quarterly earnings data on Thursday, March 27th. The company reported $0.55 earnings per share for the quarter. The business had revenue of $11.40 billion for the quarter. CocaCola had a return on equity of 43.62% and a net margin of 27.34%. Equities research analysts predict that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a $0.51 dividend. 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 (DPR) is currently 67.55%.

Insider Buying and Selling at CocaCola

In other news, insider Nikolaos Koumettis sold 37,396 shares of the firm'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 completion of the transaction, the insider directly owned 209,513 shares of the company's stock, valued at $14,477,348.30. This trade represents a 15.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.97% of the stock is owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.