Burke & Herbert Bank & Trust Co. Sells 5,845 Shares of CocaCola Company (The) (NYSE:KO)

Burke & Herbert Bank & Trust Co. lessened its stake in shares of CocaCola Company (The) (NYSE:KO) by 6.2% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 88,254 shares of the company’s stock after selling 5,845 shares during the period. CocaCola comprises approximately 1.5% of Burke & Herbert Bank & Trust Co.’s investment portfolio, making the stock its 13th biggest holding. Burke & Herbert Bank & Trust Co.’s holdings in CocaCola were worth $6,321,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MorganRosel Wealth Management LLC purchased a new position in CocaCola during the first quarter worth approximately $25,000. Crowley Wealth Management Inc. purchased a new stake in shares of CocaCola in the 4th quarter valued at $27,000. Garde Capital Inc. purchased a new stake in shares of CocaCola in the 1st quarter valued at $30,000. Mizuho Securities Co. Ltd. raised its holdings in shares of CocaCola by 360.0% in the 1st quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company’s stock valued at $33,000 after buying an additional 360 shares during the period. Finally, REAP Financial Group LLC grew its stake in CocaCola by 57.5% during the 4th quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock worth $35,000 after purchasing an additional 208 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Beatriz R. Perez sold 60,326 shares of the firm’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the completion of the transaction, the executive vice president owned 187,716 shares of the company’s stock, valued at $13,491,148.92. This trade represents a 24.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO James Quincey sold 266,403 shares of the firm’s stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $72.06, for a total value of $19,197,000.18. Following the transaction, the chief executive officer directly owned 275,946 shares of the company’s stock, valued at $19,884,668.76. This represents a 49.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 415,387 shares of company stock valued at $29,923,985 over the last three months. Company insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on KO. Morgan Stanley reissued an “overweight” rating and set a $81.00 target price on shares of CocaCola in a research note on Monday, June 9th. Cfra Research raised CocaCola to a “strong-buy” rating in a research note on Tuesday, April 15th. Royal Bank Of Canada boosted their target price on CocaCola from $73.00 to $76.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. JPMorgan Chase & Co. boosted their target price on CocaCola from $74.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, April 21st. Finally, UBS Group boosted their target price on CocaCola from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, CocaCola presently has an average rating of “Buy” and an average price target of $76.27.

CocaCola Trading Up 0.4%

NYSE:KO opened at $71.19 on Friday. The company has a quick ratio of 0.89, a current ratio of 1.10 and a debt-to-equity ratio of 1.57. The business’s 50 day moving average is $71.08 and its two-hundred day moving average is $68.56. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The company has a market cap of $306.42 billion, a PE ratio of 28.48, a P/E/G ratio of 3.74 and a beta of 0.45.

CocaCola (NYSE:KO) last released its earnings results on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. CocaCola had a return on equity of 45.49% and a net margin of 23.00%. The company had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.23 billion. During the same quarter last year, the business posted $0.72 EPS. CocaCola’s quarterly revenue was down .7% compared to the same quarter last year. On average, analysts predict that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.87%. The ex-dividend date was Friday, June 13th. CocaCola’s dividend payout ratio is presently 81.60%.

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.