Riverview Trust Co Acquires Shares of 1,673 The Coca-Cola Company (NYSE:KO)

Riverview Trust Co acquired a new stake in shares of The Coca-Cola Company (NYSE:KO) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,673 shares of the company’s stock, valued at approximately $102,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. PGIM Custom Harvest LLC bought a new position in Coca-Cola in the third quarter worth approximately $266,000. Operose Advisors LLC boosted its position in Coca-Cola by 167.0% during the 3rd quarter. Operose Advisors LLC now owns 3,738 shares of the company’s stock valued at $209,000 after acquiring an additional 2,338 shares in the last quarter. Mutual Advisors LLC boosted its position in Coca-Cola by 3.1% during the 3rd quarter. Mutual Advisors LLC now owns 67,281 shares of the company’s stock valued at $3,766,000 after acquiring an additional 2,031 shares in the last quarter. MQS Management LLC purchased a new stake in shares of Coca-Cola during the 3rd quarter valued at $1,556,000. Finally, MFA Wealth Advisors LLC lifted its holdings in shares of Coca-Cola by 4.5% during the 3rd quarter. MFA Wealth Advisors LLC now owns 28,960 shares of the company’s stock valued at $1,621,000 after purchasing an additional 1,248 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the company. Evercore ISI increased their price objective on Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. BNP Paribas assumed coverage on Coca-Cola in a report on Monday. They set an “outperform” rating and a $72.00 price objective for the company. Morgan Stanley increased their price objective on Coca-Cola from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, June 10th. JPMorgan Chase & Co. increased their price objective on Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Finally, UBS Group increased their price objective on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus price target of $68.83.

Coca-Cola Stock Performance

NYSE KO opened at $63.83 on Wednesday. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $64.36. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 1.04. The firm has a market capitalization of $274.98 billion, a P/E ratio of 25.53, a PEG ratio of 3.62 and a beta of 0.59. The stock has a 50-day simple moving average of $62.44 and a two-hundred day simple moving average of $60.69.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, April 30th. The company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. The firm had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $11.01 billion. During the same period last year, the firm earned $0.68 EPS. The company’s quarterly revenue was up 2.7% on a year-over-year basis. On average, equities analysts forecast that The Coca-Cola Company will post 2.82 earnings per share for the current year.

Coca-Cola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend is Friday, June 14th. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Insider Activity

In related news, insider Nikolaos Koumettis sold 80,891 shares of Coca-Cola stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $62.34, for a total value of $5,042,744.94. Following the sale, the insider now directly owns 218,880 shares in the company, valued at approximately $13,644,979.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Nancy Quan sold 19,304 shares of Coca-Cola stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $63.44, for a total value of $1,224,645.76. Following the sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $14,168,055.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Nikolaos Koumettis sold 80,891 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $62.34, for a total value 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 223,665 shares of company stock worth $13,995,465 in the last ninety days. Company insiders own 0.97% of the company’s stock.

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.