AMG National Trust Bank Grows Position in CocaCola Company (The) $KO

AMG National Trust Bank boosted its holdings in CocaCola Company (The) (NYSE:KO) by 1.9% in the 2nd quarter, HoldingsChannel reports. The fund owned 131,102 shares of the company’s stock after acquiring an additional 2,409 shares during the quarter. AMG National Trust Bank’s holdings in CocaCola were worth $9,275,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of KO. 1248 Management LLC acquired a new stake in shares of CocaCola in the 1st quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of CocaCola by 5,142.9% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock worth $26,000 after acquiring an additional 360 shares during the period. Ridgewood Investments LLC grew its holdings in shares of CocaCola by 148.4% in the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock worth $34,000 after acquiring an additional 285 shares during the period. GFG Capital LLC acquired a new stake in shares of CocaCola in the 2nd quarter worth approximately $34,000. Finally, University of Texas Texas AM Investment Management Co. acquired a new stake in shares of CocaCola in the 1st quarter worth approximately $42,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insiders Place Their Bets

In other CocaCola news, Director Max R. Levchin purchased 7,206 shares of CocaCola stock in a transaction on Friday, October 24th. The shares were bought at an average price of $69.87 per share, with a total value of $503,483.22. Following the purchase, the director directly owned 14,267 shares in the company, valued at $996,835.29. This trade represents a 102.05% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nikolaos Koumettis sold 37,396 shares of the stock in a transaction 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 in the company, valued at approximately $14,477,348.30. This represents a 15.15% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Cowen restated a “buy” rating on shares of CocaCola in a report on Wednesday, October 22nd. BNP Paribas restated an “outperform” rating and issued a $83.00 price target on shares of CocaCola in a report on Monday, July 21st. Evercore ISI restated an “outperform” rating on shares of CocaCola in a report on Tuesday, October 21st. JPMorgan Chase & Co. upped their price target on CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. Finally, Piper Sandler upped their target price on CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $78.31.

CocaCola Price Performance

KO stock opened at $69.02 on Friday. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.00 and a current ratio of 1.21. The stock’s 50 day moving average price is $67.76 and its 200 day moving average price is $69.71. The firm has a market cap of $296.88 billion, a P/E ratio of 22.85, a PEG ratio of 3.57 and a beta of 0.43.

CocaCola (NYSE:KO) last posted 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 43.62% and a net margin of 27.34%.The firm had revenue of $11.40 billion for the quarter. On average, sell-side analysts expect that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Monday, December 1st. CocaCola’s dividend payout ratio is currently 67.55%.

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.