CocaCola Company (The) $KO Shares Purchased by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. raised its stake in shares of CocaCola Company (The) (NYSE:KO) by 2.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 644,460 shares of the company’s stock after purchasing an additional 16,280 shares during the period. Cullen Frost Bankers Inc.’s holdings in CocaCola were worth $45,596,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Sage Financial Management Group Inc. acquired a new stake in shares of CocaCola in the first quarter worth $216,000. Perigon Wealth Management LLC boosted its stake in shares of CocaCola by 3.6% in the second quarter. Perigon Wealth Management LLC now owns 130,164 shares of the company’s stock valued at $9,209,000 after purchasing an additional 4,469 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of CocaCola by 6.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 30,889,415 shares of the company’s stock valued at $2,212,300,000 after purchasing an additional 1,794,561 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of CocaCola in the second quarter valued at $22,443,000. Finally, Roundview Capital LLC boosted its stake in shares of CocaCola by 9.1% in the second quarter. Roundview Capital LLC now owns 34,965 shares of the company’s stock valued at $2,474,000 after purchasing an additional 2,923 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Activity at CocaCola

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. Corporate insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on KO. Wells Fargo & Company decreased their target price on shares of CocaCola from $78.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. JPMorgan Chase & Co. increased their price objective on shares of CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada set a $76.00 price target on shares of CocaCola and gave the stock an “outperform” rating in a research report on Monday, July 21st. BNP Paribas restated an “outperform” rating and issued a $83.00 price target on shares of CocaCola in a research report on Monday, July 21st. Finally, Evercore ISI restated an “outperform” rating on shares of CocaCola in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $77.23.

CocaCola Stock Performance

Shares of KO opened at $71.22 on Wednesday. The firm’s 50 day moving average is $67.80 and its 200-day moving average is $69.70. The stock has a market capitalization of $306.51 billion, a P/E ratio of 25.26, a P/E/G ratio of 3.57 and a beta of 0.43. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.21 and a quick ratio of 0.98. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38.

CocaCola (NYSE:KO) last announced its earnings results on Thursday, March 27th. The company reported $0.55 EPS for the quarter. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The company had revenue of $11.40 billion during the quarter. Equities research analysts anticipate that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The business 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 dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Monday, December 1st. CocaCola’s dividend payout ratio (DPR) is currently 72.34%.

About CocaCola

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.