American Trust Grows Holdings in The Coca-Cola Company (NYSE:KO)

American Trust increased its stake in The Coca-Cola Company (NYSE:KO) by 15.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,802 shares of the company’s stock after buying an additional 2,119 shares during the period. American Trust’s holdings in Coca-Cola were worth $1,006,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in KO. Newbridge Financial Services Group Inc. raised its stake in shares of Coca-Cola by 7.2% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 9,608 shares of the company’s stock valued at $612,000 after purchasing an additional 648 shares in the last quarter. Cannon Financial Strategists Inc. acquired a new stake in Coca-Cola during the second quarter valued at approximately $3,611,000. Brightwater Advisory LLC bought a new position in Coca-Cola during the 2nd quarter worth approximately $367,000. Heritage Wealth Management Inc. bought a new position in Coca-Cola during the 2nd quarter worth approximately $1,931,000. Finally, Sanctuary Advisors LLC acquired a new position in shares of Coca-Cola in the 2nd quarter worth approximately $23,007,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, insider Bruno Pietracci sold 38,653 shares of Coca-Cola stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total value of $2,667,443.53. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Bruno Pietracci sold 38,653 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $69.01, for a total value of $2,667,443.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Cola Co Coca sold 598,619 shares of the business’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $925.00, for a total value of $553,722,575.00. Following the sale, 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. In the last three months, insiders sold 974,715 shares of company stock valued at $579,704,927. 0.97% of the stock is owned by insiders.

Coca-Cola Stock Down 0.2 %

Coca-Cola stock opened at $71.73 on Wednesday. The company’s 50-day moving average price is $70.10 and its two-hundred day moving average price is $64.94. The stock has a market cap of $309.01 billion, a price-to-earnings ratio of 28.69, a PEG ratio of 3.97 and a beta of 0.60. The Coca-Cola Company has a 52 week low of $51.55 and a 52 week high of $73.53. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. The firm had revenue of $12.40 billion during the quarter, compared to analyst estimates of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the company posted $0.78 EPS. On average, analysts expect that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend was Friday, September 13th. Coca-Cola’s payout ratio is 77.60%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on KO. Wells Fargo & Company raised their price objective on Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Truist Financial lifted their price target on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Royal Bank of Canada increased their price objective on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. lifted their target price on Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Finally, Cfra reiterated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Five 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. Based on data from MarketBeat, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average target price of $71.07.

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.