Argent Trust Co raised its position in The Coca-Cola Company (NYSE:KO) by 5.4% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 310,110 shares of the company’s stock after buying an additional 15,879 shares during the quarter. The Coca-Cola comprises about 1.1% of Argent Trust Co’s holdings, making the stock its 19th largest position. Argent Trust Co’s holdings in The Coca-Cola were worth $16,346,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in KO. FMR LLC grew its stake in shares of The Coca-Cola by 16.3% during the 4th quarter. FMR LLC now owns 56,240,715 shares of the company’s stock worth $3,084,241,000 after purchasing an additional 7,887,519 shares during the period. Morgan Stanley grew its stake in shares of The Coca-Cola by 7.5% during the 4th quarter. Morgan Stanley now owns 48,640,574 shares of the company’s stock worth $2,667,449,000 after purchasing an additional 3,397,649 shares during the period. Norges Bank acquired a new position in shares of The Coca-Cola during the 4th quarter worth $2,345,618,000. Bank of New York Mellon Corp grew its stake in shares of The Coca-Cola by 10.6% during the 4th quarter. Bank of New York Mellon Corp now owns 39,835,440 shares of the company’s stock worth $2,184,577,000 after purchasing an additional 3,818,182 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of The Coca-Cola by 5.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 37,883,047 shares of the company’s stock worth $2,077,505,000 after purchasing an additional 1,995,835 shares during the period. 66.29% of the stock is currently owned by institutional investors.
In other The Coca-Cola news, insider Nikolaos Koumettis sold 55,392 shares of the stock in a transaction that occurred on Friday, June 4th. The shares were sold at an average price of $55.89, for a total value of $3,095,858.88. Following the completion of the sale, the insider now owns 170,403 shares of the company’s stock, valued at $9,523,823.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James Quincey sold 110,000 shares of the stock in a transaction that occurred on Friday, April 23rd. The shares were sold at an average price of $54.48, for a total transaction of $5,992,800.00. Following the completion of the sale, the chief executive officer now directly owns 266,718 shares of the company’s stock, valued at approximately $14,530,796.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 255,893 shares of company stock valued at $13,956,239. Corporate insiders own 1.01% of the company’s stock.
The Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Sunday, April 18th. The company reported $0.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.05. The business had revenue of $9 billion for the quarter, compared to analyst estimates of $8.58 billion. The Coca-Cola had a net margin of 21.59% and a return on equity of 41.48%. The company’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.51 EPS. As a group, equities research analysts predict that The Coca-Cola Company will post 2.18 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 1st. Investors of record on Tuesday, June 15th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend is Monday, June 14th. The Coca-Cola’s dividend payout ratio (DPR) is presently 86.15%.
Several equities research analysts recently commented on the stock. Evercore ISI boosted their price objective on shares of The Coca-Cola from $60.00 to $63.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 20th. Royal Bank of Canada upgraded shares of The Coca-Cola from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $55.00 to $60.00 in a research report on Monday, March 8th. Wolfe Research assumed coverage on shares of The Coca-Cola in a research report on Monday, April 12th. They issued a “peer perform” rating on the stock. Morgan Stanley boosted their price objective on shares of The Coca-Cola from $60.00 to $64.00 and gave the stock an “overweight” rating in a research report on Friday, June 4th. Finally, Citigroup boosted their price objective on shares of The Coca-Cola from $54.00 to $57.00 in a research report on Tuesday, April 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $58.00.
The Coca-Cola Company Profile
The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plantÂ-based beverages; tea and coffee; and energy drinks. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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