First National Bank of South Miami Trims Stake in The Coca-Cola Company (NYSE:KO)

First National Bank of South Miami lowered its stake in shares of The Coca-Cola Company (NYSE:KOFree Report) by 5.0% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 12,182 shares of the company’s stock after selling 638 shares during the period. First National Bank of South Miami’s holdings in Coca-Cola were worth $734,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. American National Bank grew its holdings in shares of Coca-Cola by 23.8% during the second quarter. American National Bank now owns 15,331 shares of the company’s stock valued at $923,000 after buying an additional 2,952 shares during the last quarter. Royal Fund Management LLC grew its holdings in shares of Coca-Cola by 2.2% during the second quarter. Royal Fund Management LLC now owns 13,313 shares of the company’s stock valued at $802,000 after buying an additional 288 shares during the last quarter. Darwin Wealth Management LLC grew its holdings in shares of Coca-Cola by 24.0% during the second quarter. Darwin Wealth Management LLC now owns 25,095 shares of the company’s stock valued at $1,494,000 after buying an additional 4,852 shares during the last quarter. First Bank & Trust grew its holdings in shares of Coca-Cola by 207.9% during the second quarter. First Bank & Trust now owns 21,842 shares of the company’s stock valued at $1,315,000 after buying an additional 14,748 shares during the last quarter. Finally, Maltin Wealth Management Inc. purchased a new stake in shares of Coca-Cola during the second quarter valued at approximately $484,000. Hedge funds and other institutional investors own 68.96% of the company’s stock.

Coca-Cola Stock Up 0.6 %

KO stock opened at $58.30 on Tuesday. The Coca-Cola Company has a twelve month low of $54.01 and a twelve month high of $64.99. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 1.29. The stock has a market cap of $252.11 billion, a P/E ratio of 23.99, a PEG ratio of 3.40 and a beta of 0.55. The business’s 50-day moving average price is $60.49 and its 200-day moving average price is $61.25.

Coca-Cola (NYSE:KOGet Free Report) last posted its quarterly earnings data on Wednesday, July 26th. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. Coca-Cola had a return on equity of 43.06% and a net margin of 23.81%. The firm had revenue of $12 billion for the quarter, compared to analysts’ expectations of $11.74 billion. During the same period in the previous year, the firm earned $0.70 EPS. The business’s quarterly revenue was up 6.2% on a year-over-year basis. On average, equities research analysts forecast that The Coca-Cola Company will post 2.63 EPS for the current year.

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be given a $0.46 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.84 annualized dividend and a dividend yield of 3.16%. Coca-Cola’s payout ratio is 75.72%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. increased their price objective on Coca-Cola from $67.00 to $71.00 and gave the company an “overweight” rating in a research report on Thursday, July 27th. Royal Bank of Canada increased their price objective on Coca-Cola from $69.00 to $70.00 in a research report on Thursday, July 27th. Barclays raised their target price on shares of Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, July 28th. Wedbush raised their target price on shares of Coca-Cola from $70.00 to $71.00 and gave the stock an “outperform” rating in a report on Thursday, July 27th. Finally, StockNews.com assumed coverage on shares of Coca-Cola in a report on Thursday, August 17th. They issued a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus price target of $68.33.

Get Our Latest Analysis on KO

Insider Transactions at Coca-Cola

In related news, SVP Beatriz R. Perez sold 50,000 shares of Coca-Cola stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $62.66, for a total transaction of $3,133,000.00. Following the sale, the senior vice president now owns 143,383 shares of the company’s stock, valued at approximately $8,984,378.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO John Murphy sold 156,290 shares of the business’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $62.10, for a total value of $9,705,609.00. Following the transaction, the chief financial officer now owns 228,830 shares of the company’s stock, valued at $14,210,343. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Beatriz R. Perez sold 50,000 shares of the business’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $62.66, for a total transaction of $3,133,000.00. Following the completion of the transaction, the senior vice president now directly owns 143,383 shares in the company, valued at approximately $8,984,378.78. The disclosure for this sale can be found here. Insiders sold a total of 227,364 shares of company stock valued at $14,122,016 over the last 90 days. Company insiders own 1.00% of the company’s stock.

About Coca-Cola

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

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