OLD Point Trust & Financial Services N A Buys 200 Shares of CocaCola Company (The) $KO

OLD Point Trust & Financial Services N A grew its stake in shares of CocaCola Company (The) (NYSE:KO) by 0.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,767 shares of the company’s stock after purchasing an additional 200 shares during the period. OLD Point Trust & Financial Services N A’s holdings in CocaCola were worth $2,177,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in CocaCola by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 361,200,808 shares of the company’s stock valued at $25,869,202,000 after acquiring an additional 1,114,422 shares during the period. Wellington Management Group LLP lifted its position in CocaCola by 52.7% during the 1st quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company’s stock valued at $3,398,185,000 after acquiring an additional 16,383,870 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in CocaCola by 6.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 30,889,415 shares of the company’s stock valued at $2,212,300,000 after acquiring an additional 1,794,561 shares during the period. Amundi lifted its position in CocaCola by 16.0% during the 1st quarter. Amundi now owns 21,236,315 shares of the company’s stock valued at $1,554,074,000 after acquiring an additional 2,922,619 shares during the period. Finally, Nuveen LLC purchased a new position in CocaCola during the 1st quarter valued at about $1,508,657,000. Institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of the company’s stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total transaction of $2,584,063.60. Following the completion of the sale, the insider directly owned 209,513 shares of the company’s stock, valued at approximately $14,477,348.30. This represents a 15.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on KO. Wells Fargo & Company lifted their price target on shares of CocaCola from $75.00 to $79.00 and gave the company an “overweight” rating in a research report on Wednesday. TD Cowen lifted their target price on shares of CocaCola from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday. BNP Paribas reaffirmed an “outperform” rating and issued a $83.00 target price on shares of CocaCola in a report on Monday, July 21st. JPMorgan Chase & Co. lifted their target price on shares of CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. Finally, UBS Group decreased their target price on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, September 11th. One investment analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $78.00.

CocaCola Stock Down 0.7%

KO opened at $70.75 on Thursday. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. The firm has a 50 day moving average price of $67.81 and a 200-day moving average price of $69.70. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The stock has a market capitalization of $304.47 billion, a price-to-earnings ratio of 23.43, a PEG ratio of 3.71 and a beta of 0.43.

CocaCola (NYSE:KO) last released its quarterly earnings data on Thursday, March 27th. The company reported $0.55 earnings per share for the quarter. CocaCola had a net margin of 27.34% and a return on equity of 45.63%. The firm had revenue of $11.40 billion during the quarter. Equities research analysts forecast that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Monday, December 1st. CocaCola’s dividend payout ratio is currently 72.34%.

CocaCola 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.