First Bancorp Inc ME Purchases 531 Shares of CocaCola Company (The) $KO

First Bancorp Inc ME grew its position in shares of CocaCola Company (The) (NYSE:KO) by 6.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,370 shares of the company’s stock after purchasing an additional 531 shares during the quarter. First Bancorp Inc ME’s holdings in CocaCola were worth $663,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings 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 boosted its holdings 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 boosted its holdings 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 boosted its holdings 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 stake in CocaCola during the 1st quarter valued at about $1,508,657,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Nikolaos Koumettis sold 37,396 shares of the firm’s stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total transaction of $2,584,063.60. Following the completion of the transaction, the insider owned 209,513 shares of the company’s stock, valued at $14,477,348.30. This trade represents a 15.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.97% of the stock is currently owned by company insiders.

CocaCola Stock Up 1.3%

Shares of NYSE:KO opened at $68.45 on Friday. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The firm has a market capitalization of $294.60 billion, a P/E ratio of 24.27, a P/E/G ratio of 3.57 and a beta of 0.43. The stock has a 50 day moving average price of $67.84 and a 200-day moving average price of $69.72. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.98 and a current ratio of 1.21.

CocaCola (NYSE:KO) last announced its earnings results on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.The firm had revenue of $11.40 billion during the quarter. As a group, equities research analysts anticipate that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Monday, December 1st. CocaCola’s dividend payout ratio (DPR) is 72.34%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on KO shares. UBS Group dropped their price objective on CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, September 11th. BNP Paribas reiterated an “outperform” rating and issued a $83.00 price objective on shares of CocaCola in a report on Monday, July 21st. Wells Fargo & Company dropped their price objective on CocaCola from $78.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday, September 25th. JPMorgan Chase & Co. increased their price objective on CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. Finally, Royal Bank Of Canada set a $76.00 price objective on CocaCola and gave the stock an “outperform” rating in a report on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $76.69.

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.