CNB Bank Sells 1,002 Shares of CocaCola Company (The) $KO

CNB Bank trimmed its stake in CocaCola Company (The) (NYSE:KO) by 6.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 15,181 shares of the company’s stock after selling 1,002 shares during the quarter. CNB Bank’s holdings in CocaCola were worth $1,074,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. MorganRosel Wealth Management LLC bought a new position in shares of CocaCola in the 1st quarter worth $25,000. 1248 Management LLC purchased a new position in CocaCola during the 1st quarter worth $26,000. Caitong International Asset Management Co. Ltd grew its stake in CocaCola by 5,142.9% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock worth $26,000 after buying an additional 360 shares during the last quarter. Ridgewood Investments LLC grew its stake in CocaCola by 148.4% during the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock worth $34,000 after buying an additional 285 shares during the last quarter. Finally, GFG Capital LLC purchased a new position in CocaCola during the 2nd quarter worth $34,000. 70.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on KO shares. Royal Bank Of Canada set a $76.00 target price on CocaCola and gave the stock an “outperform” rating in a research note on Monday, July 21st. Wells Fargo & Company boosted their target price on CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday. JPMorgan Chase & Co. boosted their price target on CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. TD Cowen boosted their price target on CocaCola from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Barclays reiterated an “overweight” rating on shares of CocaCola in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company. According to MarketBeat, CocaCola presently has a consensus rating of “Buy” and a consensus target price of $78.31.

Insiders Place Their Bets

In related news, insider Nikolaos Koumettis sold 37,396 shares of the company’s stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total value of $2,584,063.60. Following the completion of the transaction, the insider owned 209,513 shares of the company’s stock, valued at approximately $14,477,348.30. This represents a 15.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.97% of the company’s stock.

CocaCola Stock Performance

Shares of KO stock opened at $69.74 on Friday. The stock has a market cap of $300.13 billion, a PE ratio of 23.09, a price-to-earnings-growth ratio of 3.66 and a beta of 0.43. The business has a 50-day simple moving average of $67.81 and a 200-day simple moving average of $69.73. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.30. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38.

CocaCola (NYSE:KO) last issued its quarterly earnings data on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. The business had revenue of $11.40 billion during the quarter. CocaCola had a return on equity of 43.62% and a net margin of 27.34%. On average, equities analysts expect that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a $0.51 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.04 dividend on an annualized basis and a yield of 2.9%. CocaCola’s dividend payout ratio is presently 67.55%.

CocaCola Company 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.