Eastern Bank lowered its stake in CocaCola Company (The) (NYSE:KO – Free Report) by 1.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 166,732 shares of the company’s stock after selling 2,782 shares during the quarter. Eastern Bank’s holdings in CocaCola were worth $11,796,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. MorganRosel Wealth Management LLC acquired a new stake in shares of CocaCola in the first quarter valued at about $25,000. 1248 Management LLC purchased a new position in CocaCola in the first quarter valued at about $26,000. Garde Capital Inc. purchased a new position in CocaCola in the first quarter valued at about $30,000. Mizuho Securities Co. Ltd. boosted its holdings in CocaCola by 360.0% in the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company’s stock valued at $33,000 after purchasing an additional 360 shares during the last quarter. Finally, Ridgewood Investments LLC boosted its holdings in CocaCola by 148.4% in the first quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock valued at $34,000 after purchasing an additional 285 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.
Insider Activity
In related news, insider Nikolaos Koumettis sold 37,396 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider owned 209,513 shares of the company’s stock, valued at approximately $14,477,348.30. This trade represents a 15.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.97% of the company’s stock.
CocaCola Trading Up 1.0%
CocaCola (NYSE:KO – Get Free Report) last announced its quarterly earnings results on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. The business had revenue of $11.40 billion for the quarter. CocaCola had a return on equity of 44.91% and a net margin of 25.89%. On average, analysts predict that CocaCola Company will post 2.96 EPS for the current year.
CocaCola Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Monday, September 15th were issued a $0.51 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $2.04 annualized dividend and a dividend yield of 3.0%. CocaCola’s dividend payout ratio (DPR) is 72.34%.
Analysts Set New Price Targets
KO has been the subject of a number of analyst reports. Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the company an “outperform” rating in a report on Monday, July 21st. JPMorgan Chase & Co. increased their price target on CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. Wells Fargo & Company reduced their price target on CocaCola from $78.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday, September 25th. Weiss Ratings reissued a “buy (b-)” rating on shares of CocaCola in a report on Wednesday. Finally, BNP Paribas reissued an “outperform” rating and issued a $83.00 price target on shares of CocaCola in a report on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company’s stock. According to MarketBeat.com, CocaCola currently has a consensus rating of “Buy” and a consensus target price of $76.93.
Get Our Latest Analysis on CocaCola
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.
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