AMG National Trust Bank Increases Holdings in CocaCola Company (The) $KO

AMG National Trust Bank grew its holdings in shares of CocaCola Company (The) (NYSE:KO) by 1.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 131,102 shares of the company’s stock after buying an additional 2,409 shares during the period. AMG National Trust Bank’s holdings in CocaCola were worth $9,275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. New Republic Capital LLC lifted its holdings in CocaCola by 1.6% during the 1st quarter. New Republic Capital LLC now owns 8,662 shares of the company’s stock worth $625,000 after buying an additional 139 shares during the last quarter. Alteri Wealth LLC lifted its holdings in CocaCola by 2.1% during the 1st quarter. Alteri Wealth LLC now owns 6,874 shares of the company’s stock worth $492,000 after buying an additional 140 shares during the last quarter. Requisite Capital Management LLC lifted its holdings in CocaCola by 2.8% during the 2nd quarter. Requisite Capital Management LLC now owns 5,285 shares of the company’s stock worth $377,000 after buying an additional 142 shares during the last quarter. MBA Advisors LLC lifted its holdings in CocaCola by 1.2% during the 1st quarter. MBA Advisors LLC now owns 12,443 shares of the company’s stock worth $891,000 after buying an additional 143 shares during the last quarter. Finally, BXM Wealth LLC lifted its holdings in CocaCola by 4.3% during the 1st quarter. BXM Wealth LLC now owns 3,532 shares of the company’s stock worth $253,000 after buying an additional 144 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

CocaCola Stock Performance

Shares of KO stock opened at $69.02 on Friday. The stock has a market capitalization of $296.88 billion, a PE ratio of 22.85, a price-to-earnings-growth ratio of 3.57 and a beta of 0.43. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The stock’s 50-day moving average price is $67.76 and its 200 day moving average price is $69.71. The company has a quick ratio of 1.00, a current ratio of 1.21 and a debt-to-equity ratio of 1.30.

CocaCola (NYSE:KO) last issued its quarterly earnings results on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. The firm had revenue of $11.40 billion for the quarter. CocaCola had a return on equity of 43.62% and a net margin of 27.34%. As a group, equities research analysts forecast that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 3.0%. The ex-dividend date is Monday, December 1st. CocaCola’s payout ratio is 67.55%.

Insider Activity at CocaCola

In related news, Director Max R. Levchin purchased 7,206 shares of the company’s stock in a transaction that occurred on Friday, October 24th. The shares were purchased at an average price of $69.87 per share, for a total transaction of $503,483.22. Following the transaction, the director directly owned 14,267 shares of the company’s stock, valued at approximately $996,835.29. The trade was a 102.05% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Nikolaos Koumettis sold 37,396 shares of the stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total value of $2,584,063.60. Following the transaction, the insider directly owned 209,513 shares of the company’s stock, valued at approximately $14,477,348.30. This trade represents a 15.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.97% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. TD Cowen lifted their target price on CocaCola from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Piper Sandler lifted their target price on CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. JPMorgan Chase & Co. lifted their target price on CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. UBS Group cut their target price on CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, September 11th. Finally, BNP Paribas reiterated an “outperform” rating and set a $83.00 target price on shares of CocaCola in a research report on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $78.31.

CocaCola 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.