Morton Community Bank Has $3.16 Million Position in The Coca-Cola Company (NYSE:KO)

Morton Community Bank boosted its holdings in shares of The Coca-Cola Company (NYSE:KO) by 5.0% in the second quarter, according to its most recent filing with the SEC. The firm owned 49,713 shares of the company’s stock after acquiring an additional 2,377 shares during the period. Morton Community Bank’s holdings in Coca-Cola were worth $3,164,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tidemark LLC bought a new stake in Coca-Cola in the fourth quarter valued at about $26,000. New Millennium Group LLC bought a new stake in shares of Coca-Cola in the 2nd quarter valued at about $26,000. Private Wealth Management Group LLC acquired a new stake in shares of Coca-Cola in the 4th quarter valued at approximately $27,000. Redmont Wealth Advisors LLC bought a new position in Coca-Cola during the 1st quarter worth approximately $28,000. Finally, ESL Trust Services LLC acquired a new position in Coca-Cola during the first quarter valued at approximately $28,000. Institutional investors own 70.26% of the company’s stock.

Insider Activity

In related news, EVP Nancy Quan sold 19,304 shares of Coca-Cola stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $63.44, for a total transaction of $1,224,645.76. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at $14,168,055.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Nikolaos Koumettis sold 80,891 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $62.34, for a total value of $5,042,744.94. Following the transaction, the insider now owns 218,880 shares in the company, valued at approximately $13,644,979.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Nancy Quan sold 19,304 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $63.44, for a total transaction of $1,224,645.76. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at $14,168,055.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,074,910 shares of company stock valued at $585,972,318. 0.97% of the stock is owned by company insiders.

Coca-Cola Stock Down 0.0 %

NYSE KO traded down $0.03 during trading hours on Friday, hitting $71.14. 17,485,707 shares of the company traded hands, compared to its average volume of 13,186,163. The stock has a market capitalization of $306.47 billion, a price-to-earnings ratio of 28.46, a P/E/G ratio of 4.05 and a beta of 0.60. The Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $73.53. The business’s 50-day moving average is $67.48 and its 200-day moving average is $63.56. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.81 by $0.03. The company 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 firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.78 EPS. Sell-side analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.94 annualized dividend and a dividend yield of 2.73%. Coca-Cola’s dividend payout ratio is presently 77.60%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. StockNews.com cut shares of Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Argus lifted their target price on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. Cfra reissued a “hold” rating on shares of Coca-Cola in a research note on Thursday. Truist Financial raised their price target on Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, Barclays boosted their price objective on Coca-Cola from $69.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $70.73.

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.