CNB Bank Increases Stock Position in The Coca-Cola Company (NYSE:KO)

CNB Bank raised its position in shares of The Coca-Cola Company (NYSE:KOGet Rating) by 6.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,363 shares of the company’s stock after buying an additional 1,292 shares during the period. CNB Bank’s holdings in Coca-Cola were worth $1,262,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of KO. Norges Bank purchased a new stake in shares of Coca-Cola in the 4th quarter worth about $2,222,027,000. Nordea Investment Management AB lifted its position in shares of Coca-Cola by 120.1% in the 4th quarter. Nordea Investment Management AB now owns 23,263,360 shares of the company’s stock worth $1,365,443,000 after purchasing an additional 12,694,169 shares during the period. BlackRock Inc. lifted its position in shares of Coca-Cola by 3.7% in the 4th quarter. BlackRock Inc. now owns 279,741,946 shares of the company’s stock worth $16,563,519,000 after purchasing an additional 9,884,447 shares during the period. abrdn plc lifted its position in shares of Coca-Cola by 144.5% in the 4th quarter. abrdn plc now owns 5,790,891 shares of the company’s stock worth $342,878,000 after purchasing an additional 3,422,105 shares during the period. Finally, State Street Corp lifted its position in shares of Coca-Cola by 1.8% in the 4th quarter. State Street Corp now owns 170,597,908 shares of the company’s stock worth $10,101,102,000 after purchasing an additional 2,984,878 shares during the period. 68.51% of the stock is owned by hedge funds and other institutional investors.

Shares of KO stock opened at $61.15 on Thursday. The company has a 50 day moving average price of $63.44 and a 200-day moving average price of $61.45. The Coca-Cola Company has a 52 week low of $52.28 and a 52 week high of $67.20. The firm has a market capitalization of $265.09 billion, a PE ratio of 25.69, a P/E/G ratio of 3.52 and a beta of 0.58. The company has a quick ratio of 0.98, a current ratio of 1.18 and a debt-to-equity ratio of 1.38.

Coca-Cola (NYSE:KOGet Rating) last announced its quarterly earnings results on Monday, April 25th. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.06. Coca-Cola had a net margin of 25.69% and a return on equity of 41.84%. The firm had revenue of $10.50 billion during the quarter, compared to analyst estimates of $9.83 billion. During the same period in the previous year, the business posted $0.55 earnings per share. The business’s revenue for the quarter was up 16.7% on a year-over-year basis. Analysts anticipate that The Coca-Cola Company will post 2.47 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Wednesday, June 15th will be paid a $0.44 dividend. The ex-dividend date is Tuesday, June 14th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.88%. Coca-Cola’s dividend payout ratio is presently 73.95%.

In related news, SVP Beatriz R. Perez sold 143,924 shares of the business’s stock in a transaction that occurred on Thursday, May 5th. The shares were sold at an average price of $64.78, for a total transaction of $9,323,396.72. Following the completion of the sale, the senior vice president now directly owns 121,178 shares in the company, valued at $7,849,910.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Brian John Smith sold 35,800 shares of the business’s stock in a transaction that occurred on Monday, April 25th. The shares were sold at an average price of $67.04, for a total transaction of $2,400,032.00. Following the sale, the chief operating officer now owns 116,168 shares of the company’s stock, valued at $7,787,902.72. The disclosure for this sale can be found here. Insiders sold 412,161 shares of company stock valued at $26,786,278 over the last quarter. Company insiders own 0.98% of the company’s stock.

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday, March 30th. Royal Bank of Canada lifted their price target on shares of Coca-Cola from $68.00 to $69.00 and gave the company an “outperform” rating in a research report on Tuesday, April 26th. Guggenheim lifted their price target on shares of Coca-Cola from $68.00 to $71.00 and gave the company a “buy” rating in a research report on Tuesday, April 26th. Cowen lifted their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the company a “market perform” rating in a research report on Tuesday, April 26th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Coca-Cola from $62.00 to $64.00 and gave the company a “hold” rating in a research report on Tuesday, April 26th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $68.05.

Coca-Cola Profile (Get Rating)

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; flavored and enhanced water, and sports drinks; juice, dairy, and plant-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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Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

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