American National Bank & Trust cut its holdings in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 69.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,495 shares of the company's stock after selling 12,400 shares during the quarter. American National Bank & Trust's holdings in Coca-Cola were worth $394,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Voleon Capital Management LP bought a new stake in Coca-Cola in the fourth quarter valued at about $2,513,000. Rice Partnership LLC raised its holdings in Coca-Cola by 7.1% during the 4th quarter. Rice Partnership LLC now owns 102,746 shares of the company's stock worth $6,397,000 after purchasing an additional 6,793 shares during the last quarter. Newbridge Financial Services Group Inc. grew its stake in shares of Coca-Cola by 62.2% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 26,708 shares of the company's stock worth $1,663,000 after purchasing an additional 10,240 shares during the period. Lockheed Martin Investment Management Co. grew its holdings in shares of Coca-Cola by 16.3% in the 4th quarter. Lockheed Martin Investment Management Co. now owns 218,985 shares of the company's stock valued at $13,634,000 after buying an additional 30,650 shares during the period. Finally, abrdn plc raised its position in shares of Coca-Cola by 0.3% during the fourth quarter. abrdn plc now owns 7,238,640 shares of the company's stock worth $447,963,000 after purchasing an additional 22,904 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.
Coca-Cola Stock Performance
Coca-Cola stock traded down $0.16 during trading on Thursday, hitting $71.22. The stock had a trading volume of 3,662,318 shares, compared to its average volume of 15,729,208. The stock's 50 day moving average is $71.41 and its two-hundred day moving average is $67.45. The stock has a market cap of $306.53 billion, a price-to-earnings ratio of 28.83, a price-to-earnings-growth ratio of 3.79 and a beta of 0.47. The Coca-Cola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61.
Coca-Cola (NYSE:KO - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.02. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The company had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.23 billion. During the same period in the previous year, the business earned $0.72 earnings per share. The firm's quarterly revenue was down .7% compared to the same quarter last year. As a group, analysts predict that The Coca-Cola Company will post 2.96 EPS for the current year.
Coca-Cola Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a dividend of $0.51 per share. The ex-dividend date is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.86%. Coca-Cola's dividend payout ratio is 81.60%.
Wall Street Analysts Forecast Growth
KO has been the subject of a number of research analyst reports. Piper Sandler upped their target price on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. JPMorgan Chase & Co. lifted their target price on Coca-Cola from $74.00 to $78.00 and gave the stock an "overweight" rating in a report on Monday, April 21st. Barclays reissued an "overweight" rating on shares of Coca-Cola in a report on Thursday, March 27th. DZ Bank upgraded Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 target price on the stock in a research report on Thursday, February 13th. Finally, Evercore ISI upped their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Coca-Cola has a consensus rating of "Buy" and a consensus price target of $75.81.
Check Out Our Latest Stock Report on Coca-Cola
Insider Buying and Selling
In other news, CEO James Quincey sold 266,403 shares of the business's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the transaction, the chief executive officer now directly owns 275,946 shares of the company's stock, valued at approximately $19,884,668.76. The trade was a 49.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nikolaos Koumettis sold 55,500 shares of the business's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $71.01, for a total transaction of $3,941,055.00. Following the transaction, the insider now directly owns 246,909 shares in the company, valued at approximately $17,533,008.09. The trade was a 18.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 496,164 shares of company stock worth $35,671,587 in the last quarter. 0.97% of the stock is owned by insiders.
Coca-Cola Profile
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Free Report)
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.
Further Reading
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