Texas Bank & Trust Co Invests $2.44 Million in The Coca-Cola Company (NYSE:KO)

Texas Bank & Trust Co acquired a new stake in The Coca-Cola Company (NYSE:KO - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 39,227 shares of the company's stock, valued at approximately $2,442,000. Coca-Cola accounts for approximately 1.0% of Texas Bank & Trust Co's portfolio, making the stock its 29th biggest holding.

A number of other hedge funds have also modified their holdings of the business. Charles Schwab Investment Management Inc. grew its stake in shares of Coca-Cola by 18.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company's stock valued at $4,617,400,000 after purchasing an additional 11,569,920 shares during the last quarter. Norges Bank purchased a new position in Coca-Cola in the 4th quarter valued at $3,402,151,000. Northern Trust Corp increased its stake in Coca-Cola by 9.5% in the 4th quarter. Northern Trust Corp now owns 43,802,296 shares of the company's stock valued at $2,727,131,000 after buying an additional 3,811,756 shares during the period. Franklin Resources Inc. increased its stake in Coca-Cola by 21.9% in the 4th quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company's stock valued at $2,123,301,000 after buying an additional 6,118,819 shares during the period. Finally, Capital International Investors raised its position in Coca-Cola by 96.0% during the 4th quarter. Capital International Investors now owns 24,949,194 shares of the company's stock worth $1,553,337,000 after buying an additional 12,222,885 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Coca-Cola

In related news, CEO James Quincey sold 145,435 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total transaction of $10,327,339.35. Following the transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $24,324,191.46. This represents a 29.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Beatriz R. Perez sold 60,326 shares of Coca-Cola stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $71.87, for a total value of $4,335,629.62. Following the completion of the sale, the executive vice president now owns 187,716 shares of the company's stock, valued at $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 90 days, insiders have sold 462,407 shares of company stock valued at $32,990,056. Company insiders own 0.97% of the company's stock.

Coca-Cola Price Performance

KO traded down $0.24 during midday trading on Tuesday, reaching $71.69. 12,135,976 shares of the company's stock were exchanged, compared to its average volume of 15,662,714. The Coca-Cola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The stock has a market capitalization of $308.57 billion, a PE ratio of 29.02, a P/E/G ratio of 3.79 and a beta of 0.47. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. The business's 50-day moving average price is $70.92 and its 200 day moving average price is $66.83.

Coca-Cola (NYSE:KO - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates of $0.71 by $0.02. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The business had revenue of $11.13 billion during the quarter, compared to analysts' expectations of $11.23 billion. During the same period last year, the company posted $0.72 EPS. The company's revenue was down .7% on a year-over-year basis. As a group, equities analysts anticipate that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola's dividend payout ratio is presently 81.60%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on KO. UBS Group boosted their price target on shares of Coca-Cola from $84.00 to $86.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. JPMorgan Chase & Co. boosted their target price on Coca-Cola from $74.00 to $78.00 and gave the stock an "overweight" rating in a research report on Monday, April 21st. Royal Bank of Canada increased their target price on Coca-Cola from $73.00 to $76.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Jefferies Financial Group upgraded Coca-Cola from a "hold" rating to a "buy" rating and lifted their price target for the company from $69.00 to $75.00 in a research note on Thursday, January 30th. Finally, Cfra Research upgraded Coca-Cola to a "strong-buy" rating in a research report on Tuesday, April 15th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $75.59.

About Coca-Cola

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.