The Coca-Cola Company (NYSE:KO) Shares Purchased by AMG National Trust Bank

AMG National Trust Bank raised its position in The Coca-Cola Company (NYSE:KO) by 17.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 150,053 shares of the company’s stock after purchasing an additional 21,916 shares during the quarter. AMG National Trust Bank’s holdings in Coca-Cola were worth $9,551,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in KO. Sigma Investment Counselors Inc. grew its holdings in shares of Coca-Cola by 2.1% during the 2nd quarter. Sigma Investment Counselors Inc. now owns 65,764 shares of the company’s stock worth $4,186,000 after purchasing an additional 1,367 shares during the period. Tempus Wealth Planning LLC purchased a new position in Coca-Cola during the second quarter worth about $240,000. AMI Investment Management Inc. acquired a new stake in shares of Coca-Cola during the second quarter valued at about $207,000. Optas LLC raised its stake in shares of Coca-Cola by 18.7% in the 2nd quarter. Optas LLC now owns 7,425 shares of the company’s stock valued at $473,000 after acquiring an additional 1,172 shares during the period. Finally, Clear Creek Financial Management LLC boosted its position in shares of Coca-Cola by 13.3% during the 2nd quarter. Clear Creek Financial Management LLC now owns 13,892 shares of the company’s stock worth $884,000 after purchasing an additional 1,634 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

KO has been the topic of a number of research reports. Citigroup upped their price target on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Truist Financial lifted their target price on Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Royal Bank of Canada increased their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Argus lifted their price objective on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, May 22nd. Finally, StockNews.com lowered shares of Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Coca-Cola presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.20.

Insider Transactions at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 19,304 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $63.44, for a total transaction of $1,224,645.76. Following the transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $14,168,055.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Nancy Quan sold 19,304 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $63.44, for a total value of $1,224,645.76. Following the completion of the sale, the executive vice president now owns 223,330 shares in the company, valued at $14,168,055.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nikolaos Koumettis sold 80,891 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $62.34, for a total transaction of $5,042,744.94. Following the transaction, the insider now owns 218,880 shares in the company, valued at $13,644,979.20. The disclosure for this sale can be found here. Insiders have sold a total of 1,014,029 shares of company stock worth $581,682,074 over the last ninety days. 0.97% of the stock is currently owned by company insiders.

Coca-Cola Stock Performance

Shares of KO stock traded up $0.46 during trading hours on Friday, hitting $69.79. The stock had a trading volume of 11,834,745 shares, compared to its average volume of 12,990,292. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The firm has a market capitalization of $300.65 billion, a PE ratio of 27.92, a PEG ratio of 3.80 and a beta of 0.59. The stock’s 50 day moving average is $65.74 and its 200 day moving average is $62.71. The Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $70.13.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The firm had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.78 billion. During the same quarter last year, the company posted $0.78 earnings per share. The business’s revenue was up 3.3% on a year-over-year basis. As a group, research analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be issued a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 2.78%. The ex-dividend date of this dividend is Friday, September 13th. Coca-Cola’s payout ratio is 77.60%.

About Coca-Cola

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.