The Coca-Cola Company (NYSE:KO) Stock Holdings Increased by Sunflower Bank N.A.

13 Oct 2024, 18:58 by Tristan Rich · The Markets Daily

Sunflower Bank N.A. lifted its stake in The Coca-Cola Company (NYSE:KO – Free Report) by 3.1% in the third quarter, Holdings Channel.com reports. The firm owned 27,099 shares of the company’s stock after acquiring an additional 804 shares during the quarter. Coca-Cola comprises 0.5% of Sunflower Bank N.A.’s portfolio, making the stock its 21st largest holding. Sunflower Bank N.A.’s holdings in Coca-Cola were worth $1,947,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Crestmont Private Wealth LLC bought a new position in shares of Coca-Cola in the third quarter valued at approximately $216,000. CHICAGO TRUST Co NA raised its position in shares of Coca-Cola by 3.1% in the third quarter. CHICAGO TRUST Co NA now owns 30,886 shares of the company’s stock valued at $2,219,000 after purchasing an additional 928 shares during the period. Carnegie Investment Counsel raised its position in shares of Coca-Cola by 0.9% in the third quarter. Carnegie Investment Counsel now owns 82,488 shares of the company’s stock valued at $5,927,000 after purchasing an additional 761 shares during the period. Retirement Planning Group LLC bought a new position in shares of Coca-Cola in the third quarter valued at approximately $861,000. Finally, Annex Advisory Services LLC raised its position in shares of Coca-Cola by 11.3% in the third quarter. Annex Advisory Services LLC now owns 7,558 shares of the company’s stock valued at $543,000 after purchasing an additional 769 shares during the period. Institutional investors own 70.26% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the sale, the executive vice president now owns 223,330 shares in the company, valued at $15,968,095. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Bruno Pietracci sold 38,653 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $69.01, for a total transaction of $2,667,443.53. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the sale, the executive vice president now owns 223,330 shares in the company, valued at approximately $15,968,095. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 376,096 shares of company stock valued at $25,982,352 in the last quarter. 0.97% of the stock is currently owned by insiders.

Coca-Cola Stock Up 0.5 %

Shares of KO traded up $0.32 on Friday, hitting $69.57. The company’s stock had a trading volume of 8,786,318 shares, compared to its average volume of 13,216,886. The Coca-Cola Company has a fifty-two week low of $52.43 and a fifty-two week high of $73.53. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The firm’s fifty day moving average price is $70.51 and its 200-day moving average price is $65.43. The firm has a market capitalization of $299.70 billion, a price-to-earnings ratio of 27.83, a P/E/G ratio of 3.92 and a beta of 0.60.

Coca-Cola (NYSE:KO – Get Free Report) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The firm had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.78 billion. During the same quarter in the prior year, the firm posted $0.78 EPS. The business’s revenue was up 3.3% on a year-over-year basis. On average, equities research analysts expect that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date was Friday, September 13th. Coca-Cola’s dividend payout ratio (DPR) is currently 77.60%.

Analysts Set New Price Targets

A number of research firms have recently commented on KO. Citigroup lifted their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Royal Bank of Canada raised their price objective on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. StockNews.com downgraded shares of Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. BNP Paribas initiated coverage on shares of Coca-Cola in a research note on Monday, June 24th. They issued an “outperform” rating and a $72.00 price objective on the stock. Finally, Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $71.33.

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