Wesbanco Bank Inc. Raises Holdings in The Coca-Cola Company (NYSE:KO)

Wesbanco Bank Inc. boosted its stake in The Coca-Cola Company (NYSE:KO - Free Report) by 30.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 311,384 shares of the company's stock after purchasing an additional 72,178 shares during the period. Coca-Cola comprises 0.8% of Wesbanco Bank Inc.'s investment portfolio, making the stock its 28th largest position. Wesbanco Bank Inc.'s holdings in Coca-Cola were worth $22,301,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of KO. Voleon Capital Management LP bought a new stake in Coca-Cola in the 4th quarter worth $2,513,000. Newbridge Financial Services Group Inc. grew its position in shares of Coca-Cola by 62.2% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 26,708 shares of the company's stock worth $1,663,000 after buying an additional 10,240 shares during the last quarter. Clark Capital Management Group Inc. increased its stake in shares of Coca-Cola by 31.8% during the fourth quarter. Clark Capital Management Group Inc. now owns 848,868 shares of the company's stock valued at $52,851,000 after buying an additional 204,681 shares during the period. Alphinity Investment Management Pty Ltd raised its holdings in shares of Coca-Cola by 8.1% during the fourth quarter. Alphinity Investment Management Pty Ltd now owns 10,484,527 shares of the company's stock valued at $652,767,000 after acquiring an additional 783,161 shares in the last quarter. Finally, StoneX Group Inc. boosted its stake in shares of Coca-Cola by 80.0% during the 4th quarter. StoneX Group Inc. now owns 51,775 shares of the company's stock valued at $3,224,000 after purchasing an additional 23,009 shares in the last quarter. Institutional investors own 70.26% of the company's stock.

Coca-Cola Trading Up 0.6%

Shares of NYSE KO opened at $71.37 on Monday. The firm's 50 day moving average price is $71.39 and its 200-day moving average price is $67.63. The Coca-Cola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The company has a market cap of $307.20 billion, a PE ratio of 28.89, a P/E/G ratio of 3.79 and a beta of 0.46.

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

Coca-Cola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders 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 yield of 2.86%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola's dividend payout ratio (DPR) is 81.60%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Piper Sandler raised their price objective on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. Evercore ISI increased their target price on Coca-Cola from $72.00 to $75.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. Wells Fargo & Company lifted their price target on Coca-Cola from $70.00 to $75.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Barclays reiterated an "overweight" rating on shares of Coca-Cola in a report on Thursday, March 27th. Finally, Morgan Stanley boosted their target price on shares of Coca-Cola from $76.00 to $78.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $75.81.

Insiders Place Their Bets

In other news, COO Henrique Braun sold 25,277 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $71.47, for a total transaction of $1,806,547.19. Following the transaction, the chief operating officer now directly owns 52,466 shares of the company's stock, valued at $3,749,745.02. This represents a 32.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Beatriz R. Perez sold 60,326 shares of the company's stock in a transaction on 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 sale, the executive vice president now owns 187,716 shares of the company's stock, valued at approximately $13,491,148.92. This trade represents a 24.32% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 440,664 shares of company stock valued at $31,730,532. 0.97% of the stock is owned by insiders.

Coca-Cola 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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