First Bank & Trust decreased its position in shares of Coca-Cola Co (The) (NYSE:KO) by 15.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,852 shares of the company’s stock after selling 6,868 shares during the quarter. Coca-Cola accounts for approximately 1.2% of First Bank & Trust’s investment portfolio, making the stock its 20th largest holding. First Bank & Trust’s holdings in Coca-Cola were worth $1,819,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Costello Asset Management INC acquired a new stake in shares of Coca-Cola during the second quarter worth about $25,000. Demars Financial Group LLC acquired a new position in Coca-Cola in the second quarter valued at approximately $27,000. Evolution Wealth Advisors LLC lifted its holdings in Coca-Cola by 112.5% in the second quarter. Evolution Wealth Advisors LLC now owns 627 shares of the company’s stock valued at $28,000 after acquiring an additional 332 shares during the period. Anderson Fisher LLC lifted its holdings in Coca-Cola by 26.5% in the second quarter. Anderson Fisher LLC now owns 1,142 shares of the company’s stock valued at $51,000 after acquiring an additional 239 shares during the period. Finally, AlphaMark Advisors LLC lifted its holdings in Coca-Cola by 22.2% in the second quarter. AlphaMark Advisors LLC now owns 1,205 shares of the company’s stock valued at $54,000 after acquiring an additional 219 shares during the period. 65.86% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have issued reports on KO shares. Zacks Investment Research downgraded Coca-Cola from a “hold” rating to a “sell” rating and set a $52.00 price target for the company. in a report on Tuesday, September 22nd. Bank of America reissued a “buy” rating and issued a $53.00 price target on shares of Coca-Cola in a report on Friday, July 17th. Morgan Stanley boosted their price target on Coca-Cola from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Friday. Finally, UBS Group increased their target price on Coca-Cola from $54.00 to $57.00 and gave the company a “buy” rating in a research report on Friday. One analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Coca-Cola currently has a consensus rating of “Buy” and an average target price of $53.28.
KO stock traded up $0.10 during trading on Tuesday, reaching $49.90. 13,201,097 shares of the stock were exchanged, compared to its average volume of 17,337,598. The company has a current ratio of 1.09, a quick ratio of 0.96 and a debt-to-equity ratio of 1.97. The business has a 50 day moving average price of $50.01 and a 200-day moving average price of $47.57. Coca-Cola Co has a 1 year low of $36.27 and a 1 year high of $60.13. The firm has a market capitalization of $213.91 billion, a price-to-earnings ratio of 23.61, a P/E/G ratio of 5.76 and a beta of 0.55.
Coca-Cola (NYSE:KO) last issued its earnings results on Thursday, October 22nd. The company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.09. Coca-Cola had a net margin of 26.77% and a return on equity of 41.44%. The company had revenue of $8.65 billion for the quarter, compared to the consensus estimate of $8.37 billion. During the same period in the previous year, the firm earned $0.56 earnings per share. Coca-Cola’s quarterly revenue was down 9.0% compared to the same quarter last year. On average, research analysts anticipate that Coca-Cola Co will post 1.79 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend is Monday, November 30th. Coca-Cola’s dividend payout ratio (DPR) is presently 77.73%.
Coca-Cola Company Profile
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plant-based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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