Community Bank N.A. Buys 21,880 Shares of Coca-Cola Co (The) (NYSE:KO)

Community Bank N.A. boosted its stake in Coca-Cola Co (The) (NYSE:KO) by 16.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 157,563 shares of the company’s stock after acquiring an additional 21,880 shares during the period. Coca-Cola accounts for approximately 1.2% of Community Bank N.A.’s holdings, making the stock its 20th biggest holding. Community Bank N.A.’s holdings in Coca-Cola were worth $7,040,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its holdings in shares of Coca-Cola by 11.2% during the 1st quarter. Wellington Management Group LLP now owns 102,693,257 shares of the company’s stock valued at $4,544,177,000 after buying an additional 10,308,917 shares in the last quarter. Capital World Investors raised its holdings in Coca-Cola by 17.8% during the 1st quarter. Capital World Investors now owns 38,240,690 shares of the company’s stock valued at $1,692,153,000 after buying an additional 5,792,057 shares during the period. Two Sigma Advisers LP raised its holdings in Coca-Cola by 622.4% during the 1st quarter. Two Sigma Advisers LP now owns 6,098,101 shares of the company’s stock valued at $269,841,000 after buying an additional 5,253,900 shares during the period. BlackRock Inc. raised its holdings in Coca-Cola by 1.9% during the 1st quarter. BlackRock Inc. now owns 279,336,356 shares of the company’s stock valued at $12,360,635,000 after buying an additional 5,199,670 shares during the period. Finally, Flossbach Von Storch AG raised its holdings in Coca-Cola by 753.3% during the 1st quarter. Flossbach Von Storch AG now owns 5,443,869 shares of the company’s stock valued at $240,891,000 after buying an additional 4,805,893 shares during the period. Institutional investors and hedge funds own 67.40% of the company’s stock.

KO stock traded down $0.45 during trading on Friday, reaching $47.24. 14,850,566 shares of the company traded hands, compared to its average volume of 16,251,326. Coca-Cola Co has a 12 month low of $36.27 and a 12 month high of $60.13. The business has a 50 day simple moving average of $45.98 and a 200 day simple moving average of $49.34. The company has a market capitalization of $202.92 billion, a price-to-earnings ratio of 22.28, a price-to-earnings-growth ratio of 5.51 and a beta of 0.54. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.96 and a current ratio of 1.09.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, July 21st. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.02. The business had revenue of $7.20 billion during the quarter, compared to the consensus estimate of $7.26 billion. Coca-Cola had a return on equity of 41.44% and a net margin of 26.77%. The company’s quarterly revenue was down 28.0% on a year-over-year basis. During the same quarter last year, the company earned $0.63 earnings per share. As a group, research analysts forecast that Coca-Cola Co will post 1.8 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 3.47%. The ex-dividend date of this dividend is Monday, September 14th. Coca-Cola’s dividend payout ratio is presently 77.73%.

Several analysts recently weighed in on the company. Royal Bank of Canada decreased their price target on Coca-Cola from $57.00 to $55.00 and set an “outperform” rating on the stock in a report on Wednesday, April 22nd. Bank of America reiterated a “buy” rating and issued a $53.00 target price on shares of Coca-Cola in a research note on Friday, July 17th. Jefferies Financial Group reduced their target price on Coca-Cola from $48.00 to $47.00 and set a “hold” rating on the stock in a research note on Wednesday, April 22nd. Barclays reiterated a “buy” rating and issued a $50.00 target price on shares of Coca-Cola in a research note on Thursday, April 23rd. Finally, Cfra reduced their target price on Coca-Cola from $60.00 to $55.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $54.05.

In other Coca-Cola news, Director David B. Weinberg sold 200,000 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $48.02, for a total value of $9,604,000.00. Following the completion of the sale, the director now owns 355,214 shares of the company’s stock, valued at $17,057,376.28. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director David B. Weinberg sold 98,905 shares of the firm’s stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $48.50, for a total value of $4,796,892.50. Following the completion of the sale, the director now directly owns 355,214 shares of the company’s stock, valued at approximately $17,227,879. The disclosure for this sale can be found here. In the last three months, insiders sold 698,905 shares of company stock valued at $33,768,893. Corporate insiders own 1.01% of the company’s stock.

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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Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

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