Atlantic Union Bankshares Corp Increases Stock Holdings in The Coca-Cola Company (NYSE:KO)

Atlantic Union Bankshares Corp raised its holdings in The Coca-Cola Company (NYSE:KO) by 69.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 60,281 shares of the company’s stock after buying an additional 24,670 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Coca-Cola were worth $3,837,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Tidemark LLC acquired a new stake in Coca-Cola during the 4th quarter worth about $26,000. Private Wealth Management Group LLC acquired a new position in Coca-Cola in the 4th quarter worth approximately $27,000. Redmont Wealth Advisors LLC purchased a new position in Coca-Cola during the 1st quarter worth approximately $28,000. ESL Trust Services LLC acquired a new stake in Coca-Cola during the 1st quarter valued at approximately $28,000. Finally, Accordant Advisory Group Inc purchased a new stake in shares of Coca-Cola in the 1st quarter valued at $31,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Trading Up 0.7 %

Coca-Cola stock traded up $0.46 during midday trading on Friday, reaching $69.79. 11,834,745 shares of the stock traded hands, compared to its average volume of 12,990,292. The company has a 50-day simple moving average of $65.74 and a two-hundred day simple moving average of $62.69. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The Coca-Cola Company has a 12-month low of $51.55 and a 12-month high of $70.13. The firm has a market cap of $300.65 billion, a PE ratio of 27.92, a price-to-earnings-growth ratio of 3.80 and a beta of 0.59.

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

Coca-Cola Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors 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 2.78%. Coca-Cola’s dividend payout ratio is currently 77.60%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Barclays boosted their target price on shares of Coca-Cola from $69.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Royal Bank of Canada upped their price target on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. StockNews.com lowered Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Wells Fargo & Company upped their target price on Coca-Cola from $70.00 to $73.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Finally, BNP Paribas started coverage on shares of Coca-Cola in a research note on Monday, June 24th. They issued an “outperform” rating and a $72.00 price target on the stock. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.20.

Insiders Place Their Bets

In other news, EVP Lisa Chang sold 40,334 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $69.54, for a total transaction of $2,804,826.36. Following the completion of the transaction, the executive vice president now directly owns 74,067 shares of the company’s stock, valued at approximately $5,150,619.18. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP Lisa Chang sold 40,334 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $69.54, for a total value of $2,804,826.36. Following the transaction, the executive vice president now directly owns 74,067 shares of the company’s stock, valued at approximately $5,150,619.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Nikolaos Koumettis sold 80,891 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $62.34, for a total transaction of $5,042,744.94. Following the completion of the transaction, the insider now owns 218,880 shares of the company’s stock, valued at approximately $13,644,979.20. The disclosure for this sale can be found here. Insiders sold 1,014,029 shares of company stock worth $581,682,074 in the last 90 days. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola 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.