CocaCola Company (The) (NYSE:KO) Shares Purchased by Essex Savings Bank

Essex Savings Bank grew its stake in shares of CocaCola Company (The) (NYSE:KO) by 10.2% during the 1st quarter, Holdings Channel.com reports. The firm owned 22,605 shares of the company’s stock after acquiring an additional 2,085 shares during the period. Essex Savings Bank’s holdings in CocaCola were worth $1,619,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Tallon Kerry Patrick purchased a new stake in CocaCola in the 4th quarter valued at approximately $241,000. Brighton Jones LLC grew its holdings in CocaCola by 13.3% in the fourth quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock valued at $2,433,000 after purchasing an additional 4,591 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in shares of CocaCola during the 4th quarter worth $24,472,000. Revolve Wealth Partners LLC increased its stake in CocaCola by 3.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock worth $548,000 after acquiring an additional 293 shares during the last quarter. Finally, Bank Pictet & Cie Europe AG raised its holdings in CocaCola by 12.2% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 19,102 shares of the company’s stock valued at $1,189,000 after buying an additional 2,072 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

KO has been the topic of several research reports. Morgan Stanley reissued an “overweight” rating and issued a $81.00 price objective on shares of CocaCola in a research report on Monday, June 9th. Cfra Research upgraded shares of CocaCola to a “strong-buy” rating in a research note on Tuesday, April 15th. UBS Group lifted their target price on CocaCola from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, April 30th. JPMorgan Chase & Co. upped their target price on CocaCola from $74.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, April 21st. Finally, Royal Bank Of Canada upped their price target on shares of CocaCola from $73.00 to $76.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $76.00.

Insider Transactions at CocaCola

In other news, CEO James Quincey sold 266,403 shares of CocaCola stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the sale, the chief executive officer now directly owns 275,946 shares in the company, valued at approximately $19,884,668.76. The trade was a 49.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Beatriz R. Perez sold 60,326 shares of the company’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $71.87, for a total value of $4,335,629.62. Following the completion of the sale, the executive vice president now owns 187,716 shares in the company, valued at approximately $13,491,148.92. This represents a 24.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 415,387 shares of company stock worth $29,923,985. 0.90% of the stock is owned by insiders.

CocaCola Stock Performance

Shares of KO opened at $69.61 on Wednesday. The stock has a market capitalization of $299.61 billion, a P/E ratio of 27.84, a P/E/G ratio of 3.70 and a beta of 0.46. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.10 and a quick ratio of 0.89. The firm’s 50 day moving average is $71.60 and its 200-day moving average is $67.95. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38.

CocaCola (NYSE:KO) last released its earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.02. CocaCola had a return on equity of 45.49% and a net margin of 23.00%. The company had revenue of $11.13 billion for the quarter, compared to analysts’ expectations of $11.23 billion. During the same quarter in the previous year, the business posted $0.72 EPS. The business’s revenue for the quarter was down .7% on a year-over-year basis. Equities research analysts anticipate that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a dividend of $0.51 per share. The ex-dividend date is Friday, June 13th. This represents a $2.04 annualized dividend and a yield of 2.93%. CocaCola’s dividend payout ratio (DPR) is currently 81.60%.

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.