Hancock Whitney Corp Has $2.80 Million Stock Position in The Coca-Cola Company (NYSE:KO)

Hancock Whitney Corp lowered its position in The Coca-Cola Company (NYSE:KO) by 22.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,976 shares of the company’s stock after selling 13,046 shares during the quarter. Hancock Whitney Corp’s holdings in Coca-Cola were worth $2,799,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Tidemark LLC bought a new position in shares of Coca-Cola during the 4th quarter valued at $26,000. New Millennium Group LLC bought a new position in Coca-Cola during the second quarter valued at about $26,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Coca-Cola in the first quarter worth about $28,000. ESL Trust Services LLC acquired a new stake in shares of Coca-Cola in the first quarter worth about $28,000. Finally, DiNuzzo Private Wealth Inc. boosted its stake in shares of Coca-Cola by 65.0% during the 1st quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock worth $32,000 after acquiring an additional 206 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Coca-Cola news, major shareholder Cola Co Coca sold 598,619 shares of the business’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $925.00, for a total value of $553,722,575.00. Following the transaction, the insider now directly owns 1,883,546 shares in the company, valued at $1,742,280,050. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP Nancy Quan sold 37,787 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $66.96, for a total value of $2,530,217.52. Following the completion of the sale, the executive vice president now directly owns 223,330 shares in the company, valued at $14,954,176.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Cola Co Coca sold 598,619 shares of the company’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the transaction, the insider now owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The disclosure for this sale can be found here. Insiders sold 974,715 shares of company stock worth $579,704,927 in the last quarter. 0.97% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on KO shares. Truist Financial raised their target price on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Royal Bank of Canada raised their target price on Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. TD Cowen upped their price target on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Bank of America raised their price objective on shares of Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Finally, StockNews.com cut shares of Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $71.07.

Coca-Cola Price Performance

Shares of Coca-Cola stock opened at $71.64 on Friday. The firm has a market cap of $308.62 billion, a P/E ratio of 28.66, a price-to-earnings-growth ratio of 3.93 and a beta of 0.60. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08. The Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $73.53. The firm’s 50-day simple moving average is $69.13 and its 200-day simple moving average is $64.34.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.81 by $0.03. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The business had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.78 billion. During the same quarter last year, the company earned $0.78 EPS. Coca-Cola’s revenue was up 3.3% on a year-over-year basis. As a group, research analysts expect that The Coca-Cola Company will post 2.85 EPS 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 2.71%. The ex-dividend date is Friday, September 13th. Coca-Cola’s payout ratio is 77.60%.

Coca-Cola 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.