United Bank Boosts Holdings in CocaCola Company (The) $KO

Key Points

• United Bank increased its holdings in CocaCola Company by 9.5% in Q2, owning 91,201 shares valued at approximately $6.45 million, making CocaCola its 11th largest investment.
• CocaCola recently announced a quarterly dividend of $0.51 per share, with an annualized yield of 3.0%, to be paid on December 15th.
• The stock has a current price of $68.45 and analysts maintain a consensus rating of "Buy" with an average target price of $76.69.

United Bank raised its position in CocaCola Company (The) (NYSE:KO - Free Report) by 9.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 91,201 shares of the company's stock after acquiring an additional 7,903 shares during the quarter. CocaCola makes up about 2.5% of United Bank's holdings, making the stock its 11th biggest holding. United Bank's holdings in CocaCola were worth $6,452,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. CapWealth Advisors LLC lifted its stake in CocaCola by 0.6% in the second quarter. CapWealth Advisors LLC now owns 186,973 shares of the company's stock worth $13,228,000 after acquiring an additional 1,201 shares during the last quarter. Koshinski Asset Management Inc. lifted its stake in CocaCola by 2.6% in the second quarter. Koshinski Asset Management Inc. now owns 40,013 shares of the company's stock worth $2,831,000 after acquiring an additional 1,018 shares during the last quarter. Bell & Brown Wealth Advisors LLC lifted its stake in CocaCola by 1.0% in the second quarter. Bell & Brown Wealth Advisors LLC now owns 45,285 shares of the company's stock worth $3,204,000 after acquiring an additional 452 shares during the last quarter. Nicholson Wealth Management Group LLC lifted its stake in CocaCola by 4.7% in the second quarter. Nicholson Wealth Management Group LLC now owns 9,341 shares of the company's stock worth $661,000 after acquiring an additional 423 shares during the last quarter. Finally, Chevy Chase Trust Holdings LLC lifted its stake in CocaCola by 1.1% in the second quarter. Chevy Chase Trust Holdings LLC now owns 2,158,337 shares of the company's stock worth $152,702,000 after acquiring an additional 24,104 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company's stock.

CocaCola Stock Performance

Shares of CocaCola stock opened at $68.45 on Friday. The firm's fifty day simple moving average is $67.84 and its 200-day simple moving average is $69.73. The stock has a market capitalization of $294.60 billion, a price-to-earnings ratio of 24.27, a PEG ratio of 3.52 and a beta of 0.43. CocaCola Company has a 12 month low of $60.62 and a 12 month 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.

CocaCola (NYSE:KO - Get Free Report) last announced its earnings results on Thursday, March 27th. The company reported $0.55 EPS for the quarter. The business had revenue of $11.40 billion for the quarter. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. As a group, equities analysts forecast that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Monday, December 1st. CocaCola's payout ratio is presently 72.34%.

Analyst Upgrades and Downgrades

KO has been the subject of a number of recent research reports. Weiss Ratings reiterated a "buy (b-)" rating on shares of CocaCola in a research note on Wednesday, October 8th. Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the stock an "outperform" rating in a research report on Monday, July 21st. Wells Fargo & Company reduced their price objective on shares of CocaCola from $78.00 to $75.00 and set an "overweight" rating for the company in a research report on Thursday, September 25th. UBS Group reduced their price objective on shares of CocaCola from $84.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, September 11th. Finally, BNP Paribas restated an "outperform" rating and set a $83.00 price objective on shares of CocaCola in a research report on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $76.69.

Insider Activity at CocaCola

In other news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total value of $2,584,063.60. Following 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 sale was disclosed in a legal filing with the SEC, which is available through this link. 0.97% of the stock is owned by insiders.

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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