CocaCola Company (The) $KO Shares Bought by Texas Capital Bank Wealth Management Services Inc

Texas Capital Bank Wealth Management Services Inc lifted its holdings in CocaCola Company (The) (NYSE:KO) by 50.9% during the 1st quarter, HoldingsChannel.com reports. The firm owned 7,217 shares of the company’s stock after acquiring an additional 2,434 shares during the quarter. Texas Capital Bank Wealth Management Services Inc’s holdings in CocaCola were worth $517,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. MorganRosel Wealth Management LLC acquired a new position in shares of CocaCola in the 1st quarter worth approximately $25,000. Garde Capital Inc. acquired a new position in shares of CocaCola in the 1st quarter worth approximately $30,000. Mizuho Securities Co. Ltd. grew its stake in shares of CocaCola by 360.0% in the 1st quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company’s stock worth $33,000 after purchasing an additional 360 shares during the last quarter. Ridgewood Investments LLC increased its position in shares of CocaCola by 148.4% in the first quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock worth $34,000 after acquiring an additional 285 shares in the last quarter. Finally, Moser Wealth Advisors LLC increased its position in shares of CocaCola by 449.5% in the first quarter. Moser Wealth Advisors LLC now owns 500 shares of the company’s stock worth $36,000 after acquiring an additional 409 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

CocaCola Stock Performance

KO stock opened at $69.15 on Tuesday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.98 and a current ratio of 1.21. The stock has a market cap of $297.60 billion, a P/E ratio of 24.52, a P/E/G ratio of 3.64 and a beta of 0.44. The firm has a 50 day simple moving average of $69.97 and a 200 day simple moving average of $70.24. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38.

CocaCola (NYSE:KO) last posted its earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.04. The firm had revenue of $12.50 billion during the quarter, compared to analysts’ expectations of $12.55 billion. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The company’s revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.84 earnings per share. Research analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be paid a $0.51 dividend. The ex-dividend date is Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a yield of 3.0%. CocaCola’s payout ratio is 72.34%.

Insider Buying and Selling

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total value of $2,584,063.60. Following the completion of the sale, the insider directly owned 209,513 shares in the company, valued at $14,477,348.30. The trade was a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James Quincey sold 266,403 shares of the business’s stock in a transaction on Friday, May 30th. The stock was sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the completion of the sale, the chief executive officer owned 275,946 shares of the company’s stock, valued at $19,884,668.76. The trade was a 49.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on KO. Royal Bank Of Canada set a $76.00 target price on shares of CocaCola and gave the stock an “outperform” rating in a research report on Monday, July 21st. UBS Group dropped their target price on shares of CocaCola from $86.00 to $84.00 and set a “buy” rating on the stock in a research report on Wednesday, July 23rd. BNP Paribas reissued an “outperform” rating and issued a $83.00 target price on shares of CocaCola in a research report on Monday, July 21st. Morgan Stanley reissued an “overweight” rating and issued a $81.00 target price on shares of CocaCola in a research report on Monday, June 9th. Finally, JPMorgan Chase & Co. lifted their target price on shares of CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $77.21.

CocaCola 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.