Truist Financial Corp Has $1.11 Billion Holdings in CocaCola Company (The) (NYSE:KO)

Truist Financial Corp lessened its position in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 1.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,561,329 shares of the company's stock after selling 154,616 shares during the quarter. CocaCola makes up about 1.8% of Truist Financial Corp's investment portfolio, making the stock its 6th largest position. Truist Financial Corp owned 0.36% of CocaCola worth $1,114,502,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of KO. MorganRosel Wealth Management LLC acquired a new stake in CocaCola in the 1st quarter valued at $25,000. Garde Capital Inc. acquired a new stake in CocaCola in the 1st quarter valued at $30,000. Crowley Wealth Management Inc. acquired a new stake in CocaCola in the 4th quarter valued at $27,000. Mizuho Securities Co. Ltd. boosted its stake in CocaCola by 360.0% in the 1st quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock valued at $33,000 after buying an additional 360 shares in the last quarter. Finally, Moser Wealth Advisors LLC boosted its stake in CocaCola by 449.5% in the first quarter. Moser Wealth Advisors LLC now owns 500 shares of the company's stock worth $36,000 after purchasing an additional 409 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

CocaCola Trading Down 1.0%

NYSE KO traded down $0.69 on Tuesday, reaching $70.32. The company had a trading volume of 17,106,917 shares, compared to its average volume of 16,205,102. The stock's 50 day moving average is $71.02 and its 200-day moving average is $68.71. The stock has a market cap of $302.68 billion, a price-to-earnings ratio of 28.13, a PEG ratio of 3.72 and a beta of 0.45. The company has a quick ratio of 0.89, a current ratio of 1.10 and a debt-to-equity ratio of 1.57. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38.

CocaCola (NYSE:KO - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, beating analysts' consensus estimates of $0.71 by $0.02. The business had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.23 billion. CocaCola had a return on equity of 45.49% and a net margin of 23.00%. The firm's revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.72 earnings per share. Equities analysts predict that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date was Friday, June 13th. CocaCola's dividend payout ratio is currently 81.60%.

Analyst Ratings Changes

A number of research firms have commented on KO. Royal Bank Of Canada boosted their price objective on CocaCola from $73.00 to $76.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Barclays reissued an "overweight" rating on shares of CocaCola in a research note on Thursday, March 27th. Cfra Research raised CocaCola to a "strong-buy" rating in a research note on Tuesday, April 15th. Morgan Stanley restated an "overweight" rating and set a $81.00 target price on shares of CocaCola in a research report on Monday, June 9th. Finally, UBS Group boosted their target price on CocaCola from $84.00 to $86.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $76.27.

Insider Transactions at CocaCola

In other news, EVP Beatriz R. Perez sold 60,326 shares of the firm's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the sale, the executive vice president owned 187,716 shares of the company's stock, valued at $13,491,148.92. This trade represents a 24.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO John Murphy sold 88,658 shares of the company's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total value of $6,391,355.22. Following the transaction, the chief financial officer directly owned 205,511 shares of the company's stock, valued at $14,815,287.99. This represents a 30.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 415,387 shares of company stock valued at $29,923,985 over the last 90 days. 0.90% of the stock is owned by company insiders.

CocaCola Company 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.