Community Bank & Trust Waco Texas Buys 831 Shares of The Coca-Cola Company (NYSE:KO)

Community Bank & Trust Waco Texas boosted its holdings in shares of The Coca-Cola Company (NYSE:KO) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,094 shares of the company’s stock after purchasing an additional 831 shares during the quarter. Community Bank & Trust Waco Texas’ holdings in Coca-Cola were worth $1,773,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Morgan Stanley grew its stake in Coca-Cola by 2.5% in the 3rd quarter. Morgan Stanley now owns 80,448,083 shares of the company’s stock valued at $4,503,484,000 after acquiring an additional 1,950,146 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Coca-Cola by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 63,138,970 shares of the company’s stock valued at $3,501,789,000 after buying an additional 2,464,618 shares during the period. Northern Trust Corp grew its position in Coca-Cola by 4.8% in the 3rd quarter. Northern Trust Corp now owns 44,913,068 shares of the company’s stock valued at $2,514,234,000 after acquiring an additional 2,040,664 shares in the last quarter. Invesco Ltd. grew its position in shares of Coca-Cola by 8.2% during the third quarter. Invesco Ltd. now owns 25,845,340 shares of the company’s stock worth $1,446,822,000 after buying an additional 1,963,963 shares in the last quarter. Finally, California Public Employees Retirement System grew its position in shares of Coca-Cola by 16.4% during the fourth quarter. California Public Employees Retirement System now owns 13,804,908 shares of the company’s stock worth $813,523,000 after buying an additional 1,949,500 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Price Performance

Shares of KO stock traded up $0.08 during trading on Tuesday, hitting $60.63. The company had a trading volume of 9,385,066 shares, compared to its average volume of 13,837,406. The stock’s 50-day moving average price is $59.95 and its 200 day moving average price is $58.67. The firm has a market capitalization of $261.39 billion, a P/E ratio of 24.38, a price-to-earnings-growth ratio of 3.44 and a beta of 0.59. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.95 and a current ratio of 1.13. The Coca-Cola Company has a one year low of $51.55 and a one year high of $64.99.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. The business had revenue of $10.80 billion for the quarter, compared to analysts’ expectations of $10.68 billion. Coca-Cola had a net margin of 23.42% and a return on equity of 42.50%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.45 earnings per share. Equities analysts expect that The Coca-Cola Company will post 2.81 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 3.20%. This is an increase from Coca-Cola’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Thursday, March 14th. Coca-Cola’s dividend payout ratio is 78.23%.

Insider Buying and Selling

In other news, EVP Nancy Quan sold 57,368 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total transaction of $3,491,990.16. Following the sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $13,594,097.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Bruno Pietracci sold 18,551 shares of Coca-Cola stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $59.41, for a total value of $1,102,114.91. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Nancy Quan sold 57,368 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total value of $3,491,990.16. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at $13,594,097.10. The disclosure for this sale can be found here. Insiders sold a total of 375,407 shares of company stock valued at $22,795,742 over the last three months. Corporate insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. cut their price target on Coca-Cola from $66.00 to $65.00 and set an “overweight” rating for the company in a research note on Friday. Citigroup raised their target price on Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Finally, Barclays lifted their price objective on Coca-Cola from $66.00 to $68.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and a consensus price target of $67.09.

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.