The Coca-Cola Company (NYSE:KO) Shares Purchased by United Bank

United Bank grew its stake in The Coca-Cola Company (NYSE:KO) by 65.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 80,888 shares of the company’s stock after purchasing an additional 31,979 shares during the quarter. Coca-Cola comprises approximately 2.7% of United Bank’s holdings, making the stock its 9th largest holding. United Bank’s holdings in Coca-Cola were worth $5,813,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. New Millennium Group LLC bought a new position in shares of Coca-Cola during the second quarter worth $26,000. Quarry LP acquired a new stake in shares of Coca-Cola during the second quarter worth about $27,000. ESL Trust Services LLC bought a new position in shares of Coca-Cola during the 1st quarter valued at about $28,000. Hara Capital LLC acquired a new position in shares of Coca-Cola in the 3rd quarter valued at approximately $35,000. Finally, E Fund Management Hong Kong Co. Ltd. bought a new stake in Coca-Cola during the 3rd quarter worth approximately $36,000. 70.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Truist Financial lifted their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. TD Cowen increased their target price on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Royal Bank of Canada boosted their price target on Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft increased their price objective on Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Finally, StockNews.com downgraded Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.80.

Coca-Cola Stock Up 0.5 %

KO stock opened at $63.96 on Friday. The Coca-Cola Company has a 1-year low of $56.06 and a 1-year high of $73.53. The business’s 50 day simple moving average is $69.56 and its 200 day simple moving average is $66.44. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The firm has a market capitalization of $275.53 billion, a PE ratio of 26.43, a PEG ratio of 3.87 and a beta of 0.61.

Coca-Cola (NYSE:KO) last posted its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The company had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. Coca-Cola’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter last year, the company posted $0.74 EPS. As a group, research analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s payout ratio is 80.17%.

Insider Activity

In related news, EVP Lisa Chang sold 40,334 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $69.54, for a total transaction of $2,804,826.36. Following the transaction, the executive vice president now directly owns 74,067 shares of the company’s stock, valued at approximately $5,150,619.18. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Coca-Cola news, EVP Lisa Chang sold 40,334 shares of Coca-Cola stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $69.54, for a total value of $2,804,826.36. Following the completion of the transaction, the executive vice president now directly owns 74,067 shares of the company’s stock, valued at $5,150,619.18. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nancy Quan sold 18,484 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the sale, the executive vice president now owns 223,330 shares in the company, valued at $15,968,095. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 203,748 shares of company stock valued at $14,274,431. 0.97% of the stock is owned by company insiders.

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.