Wesbanco Bank Inc. Has $21.73 Million Stake in CocaCola Company (The) $KO

Key Points

• Wesbanco Bank Inc. reduced its stake in CocaCola Company by 1.4% in Q2, holding $21.73 million worth of shares after selling 4,235 shares during the period.
• Insider Nikolaos Koumettis sold 37,396 shares at an average price of $69.10, resulting in a 15.15% decrease in their ownership of CocaCola stock.
• CocaCola recently declared a quarterly dividend of $0.51 per share, with a yield of 3.0%, to be paid on October 1st.

Wesbanco Bank Inc. trimmed its stake in CocaCola Company (The) (NYSE:KO - Free Report) by 1.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 307,149 shares of the company's stock after selling 4,235 shares during the period. Wesbanco Bank Inc.'s holdings in CocaCola were worth $21,731,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. MorganRosel Wealth Management LLC acquired a new stake in CocaCola in the 1st quarter worth $25,000. 1248 Management LLC acquired a new stake in CocaCola in the 1st quarter worth $26,000. Garde Capital Inc. acquired a new stake in CocaCola in the 1st quarter worth $30,000. Mizuho Securities Co. Ltd. grew its position in CocaCola by 360.0% in the 1st quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock worth $33,000 after purchasing an additional 360 shares during the last quarter. Finally, Ridgewood Investments LLC grew its position in CocaCola by 148.4% in the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company's stock worth $34,000 after purchasing an additional 285 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at CocaCola

In related news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction dated Tuesday, August 5th. The shares were 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. This trade represents a 15.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.97% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

CocaCola Trading Down 0.9%

Shares of KO stock opened at $67.00 on Friday. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The company has a market capitalization of $288.35 billion, a P/E ratio of 23.76, a P/E/G ratio of 3.52 and a beta of 0.43. The firm has a 50-day moving average price of $69.29 and a 200 day moving average price of $70.37. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49.

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

CocaCola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Monday, September 15th. CocaCola's dividend payout ratio (DPR) is currently 72.34%.

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.

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