Mechanics Bank Trust Department Has $4.07 Million Stock Position in CocaCola Company (The) $KO

Key Points

• Mechanics Bank Trust Department reduced its stake in CocaCola by 19.8%, holding 57,535 shares worth $4.07 million after selling 14,190 shares in the second quarter.
• Equities research analysts have given CocaCola a consensus rating of "Buy" with an average target price of $76.93, after several firms issued varying price targets between $76.00 and $83.00.
• CocaCola announced a quarterly dividend of $0.51 per share, with a dividend yield of 3.1%, payable on October 1st to investors of record on September 15th.

Mechanics Bank Trust Department lessened its holdings in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 19.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 57,535 shares of the company's stock after selling 14,190 shares during the period. Mechanics Bank Trust Department's holdings in CocaCola were worth $4,071,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of KO. Kapitalo Investimentos Ltda bought a new position in CocaCola during the 2nd quarter worth $207,000. Foster Group Inc. lifted its position in CocaCola by 9.4% in the 2nd quarter. Foster Group Inc. now owns 6,971 shares of the company's stock valued at $493,000 after acquiring an additional 601 shares in the last quarter. Financial Harvest LLC purchased a new position in CocaCola during the 2nd quarter worth $1,091,000. Armstrong Advisory Group Inc. lifted its position in shares of CocaCola by 11.5% during the second quarter. Armstrong Advisory Group Inc. now owns 34,768 shares of the company's stock valued at $2,460,000 after purchasing an additional 3,576 shares in the last quarter. Finally, KFG Wealth Management LLC grew its holdings in shares of CocaCola by 26.7% in the second quarter. KFG Wealth Management LLC now owns 5,293 shares of the company's stock valued at $374,000 after acquiring an additional 1,116 shares in the last quarter. Institutional investors own 70.26% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. BNP Paribas reissued an "outperform" rating and set a $83.00 price objective on shares of CocaCola in a research note on Monday, July 21st. Morgan Stanley restated an "overweight" rating and set a $81.00 price target on shares of CocaCola in a report on Monday, June 9th. Royal Bank Of Canada set a $76.00 price objective on CocaCola and gave the company an "outperform" rating in a research report on Monday, July 21st. JPMorgan Chase & Co. raised their price target on CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Finally, UBS Group dropped their price target on shares of CocaCola from $84.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, September 11th. Two equities research analysts have rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company's stock. According to data from MarketBeat, CocaCola presently has a consensus rating of "Buy" and an average target price of $76.93.

Insider Transactions at CocaCola

In related news, insider Nikolaos Koumettis sold 37,396 shares of the business's stock in a transaction on Tuesday, August 5th. The stock was 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. The trade was a 15.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.90% of the stock is currently owned by company insiders.

CocaCola Stock Up 0.1%

NYSE:KO opened at $66.52 on Monday. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.21 and a quick ratio of 0.98. The firm has a market capitalization of $286.28 billion, a P/E ratio of 23.59, a PEG ratio of 3.46 and a beta of 0.43. The company's fifty day moving average price is $68.93 and its 200-day moving average price is $70.21.

CocaCola (NYSE:KO - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.04. The firm had revenue of $12.50 billion for the quarter, compared to analyst estimates of $12.55 billion. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.The business's revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.84 EPS. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. As a group, equities research analysts anticipate that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Monday, September 15th. CocaCola's payout ratio is currently 72.34%.

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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