American National Bank Raises Stock Holdings in The Coca-Cola Company (NYSE:KO)

American National Bank boosted its stake in The Coca-Cola Company (NYSE:KO) by 23.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 15,331 shares of the company’s stock after acquiring an additional 2,952 shares during the quarter. American National Bank’s holdings in Coca-Cola were worth $923,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Freedom Wealth Alliance LLC acquired a new stake in Coca-Cola during the fourth quarter worth about $25,000. Venturi Wealth Management LLC acquired a new stake in Coca-Cola during the first quarter worth $25,000. Fortis Capital Advisors LLC purchased a new position in shares of Coca-Cola during the 4th quarter worth $30,000. KB Financial Partners LLC acquired a new stake in shares of Coca-Cola during the 1st quarter worth about $31,000. Finally, NewSquare Capital LLC boosted its stake in Coca-Cola by 62.5% during the first quarter. NewSquare Capital LLC now owns 507 shares of the company’s stock worth $31,000 after buying an additional 195 shares during the period. 68.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Coca-Cola

In related news, SVP Monica Howard Douglas sold 21,074 shares of the stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $60.90, for a total transaction of $1,283,406.60. Following the completion of the sale, the senior vice president now directly owns 18,360 shares of the company’s stock, valued at $1,118,124. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Coca-Cola news, SVP Beatriz R. Perez sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $62.66, for a total transaction of $3,133,000.00. Following the transaction, the senior vice president now owns 143,383 shares in the company, valued at approximately $8,984,378.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Monica Howard Douglas sold 21,074 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $60.90, for a total value of $1,283,406.60. Following the completion of the sale, the senior vice president now directly owns 18,360 shares of the company’s stock, valued at $1,118,124. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 227,364 shares of company stock worth $14,122,016. 1.00% of the stock is currently owned by insiders.

Coca-Cola Price Performance

Shares of NYSE:KO opened at $58.30 on Tuesday. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.14 and a quick ratio of 0.95. The Coca-Cola Company has a 12 month low of $54.01 and a 12 month high of $64.99. The firm has a market capitalization of $252.11 billion, a P/E ratio of 23.99, a P/E/G ratio of 3.40 and a beta of 0.55. The company’s fifty day moving average price is $60.49 and its 200 day moving average price is $61.25.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Wednesday, July 26th. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.06. The business had revenue of $12 billion during the quarter, compared to the consensus estimate of $11.74 billion. Coca-Cola had a return on equity of 43.06% and a net margin of 23.81%. The company’s revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.70 earnings per share. As a group, sell-side analysts predict that The Coca-Cola Company will post 2.63 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be given a dividend of $0.46 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.84 dividend on an annualized basis and a yield of 3.16%. Coca-Cola’s payout ratio is 75.72%.

Analyst Upgrades and Downgrades

KO has been the subject of several research reports. StockNews.com assumed coverage on shares of Coca-Cola in a report on Thursday, August 17th. They issued a “buy” rating for the company. HSBC cut their price target on shares of Coca-Cola from $77.00 to $74.00 in a research note on Wednesday, June 7th. Barclays upped their target price on shares of Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, July 28th. Wedbush upped their price objective on Coca-Cola from $70.00 to $71.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. Finally, Royal Bank of Canada boosted their target price on Coca-Cola from $69.00 to $70.00 in a research note on Thursday, July 27th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $68.33.

Coca-Cola 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.