First National Trust Co Has $2.76 Million Holdings in The Coca-Cola Company (NYSE:KO)

First National Trust Co raised its holdings in The Coca-Cola Company (NYSE:KO) by 1.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 43,393 shares of the company’s stock after buying an additional 628 shares during the quarter. First National Trust Co’s holdings in Coca-Cola were worth $2,762,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Founders Financial Securities LLC lifted its stake in Coca-Cola by 19.0% in the second quarter. Founders Financial Securities LLC now owns 31,281 shares of the company’s stock valued at $1,991,000 after buying an additional 5,005 shares during the period. Octavia Wealth Advisors LLC increased its holdings in shares of Coca-Cola by 3.1% during the second quarter. Octavia Wealth Advisors LLC now owns 22,305 shares of the company’s stock valued at $1,431,000 after acquiring an additional 668 shares in the last quarter. Northstar Advisory Group LLC bought a new stake in shares of Coca-Cola during the second quarter valued at approximately $1,529,000. Magnus Financial Group LLC increased its holdings in shares of Coca-Cola by 1.6% during the second quarter. Magnus Financial Group LLC now owns 15,249 shares of the company’s stock valued at $971,000 after acquiring an additional 241 shares in the last quarter. Finally, Legacy Capital Wealth Partners LLC bought a new stake in shares of Coca-Cola during the second quarter valued at approximately $1,027,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

KO has been the subject of several recent research reports. TD Cowen boosted their price objective on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Bank of America boosted their price objective on Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Royal Bank of Canada boosted their price objective on Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. StockNews.com downgraded Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Finally, BNP Paribas started coverage on Coca-Cola in a report on Monday, June 24th. They set an “outperform” rating and a $72.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $70.73.

Coca-Cola Stock Down 0.6 %

Shares of NYSE:KO opened at $72.56 on Thursday. The company has a market capitalization of $312.59 billion, a PE ratio of 29.02, a price-to-earnings-growth ratio of 4.05 and a beta of 0.59. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The business has a fifty day moving average price of $67.18 and a two-hundred day moving average price of $63.41. The Coca-Cola Company has a 1 year low of $51.55 and a 1 year high of $73.53.

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

Coca-Cola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a $0.485 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a yield of 2.67%. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Insider Buying and Selling at Coca-Cola

In other news, CEO James Quincey sold 102,533 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO James Quincey sold 102,533 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,968,095. The disclosure for this sale can be found here. Insiders sold 1,074,910 shares of company stock worth $585,972,318 in the last quarter. 0.97% of the stock is currently owned by company insiders.

Coca-Cola 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.