The Coca-Cola Company (NYSE:KO) Stock Holdings Increased by Truist Financial Corp

Truist Financial Corp lifted its holdings in The Coca-Cola Company (NYSE:KO) by 1.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,362,598 shares of the company’s stock after acquiring an additional 177,241 shares during the quarter. Coca-Cola accounts for 1.6% of Truist Financial Corp’s holdings, making the stock its 9th biggest position. Truist Financial Corp owned approximately 0.38% of Coca-Cola worth $1,041,479,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in KO. New Millennium Group LLC acquired a new stake in shares of Coca-Cola during the 2nd quarter worth approximately $26,000. Quarry LP purchased a new stake in Coca-Cola during the second quarter worth $27,000. Redmont Wealth Advisors LLC acquired a new stake in Coca-Cola during the first quarter valued at $28,000. ESL Trust Services LLC purchased a new position in Coca-Cola in the first quarter valued at $28,000. Finally, DiNuzzo Private Wealth Inc. raised its position in shares of Coca-Cola by 65.0% in the first quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock worth $32,000 after acquiring an additional 206 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Up 0.1 %

Shares of KO opened at $71.86 on Tuesday. The Coca-Cola Company has a 52-week low of $51.55 and a 52-week high of $73.53. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The stock has a fifty day simple moving average of $69.96 and a two-hundred day simple moving average of $64.85. The company has a market capitalization of $309.57 billion, a PE ratio of 28.74, a price-to-earnings-growth ratio of 3.97 and a beta of 0.60.

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

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a $0.485 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.94 annualized dividend and a yield of 2.70%. Coca-Cola’s payout ratio is 77.60%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on KO shares. Cfra restated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. StockNews.com downgraded Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Wells Fargo & Company lifted their price target on shares of Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Royal Bank of Canada upped their price objective 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. Finally, Truist Financial lifted their target price on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $71.07.

Insider Buying and Selling at Coca-Cola

In other news, EVP Nancy Quan sold 18,484 shares of the stock in a transaction on 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 completion of the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,968,095. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,968,095. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the completion of the sale, the insider now owns 1,883,546 shares of the company’s stock, valued at approximately $1,742,280,050. The disclosure for this sale can be found here. Insiders have sold 974,715 shares of company stock worth $579,704,927 over the last quarter. 0.97% of the stock is currently 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.