Argent Trust Co Boosts Holdings in The Coca-Cola Company (NYSE:KO)

Argent Trust Co boosted its position in shares of The Coca-Cola Company (NYSE:KO) by 5.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 310,110 shares of the company’s stock after acquiring an additional 15,879 shares during the period. The Coca-Cola accounts for 1.1% of Argent Trust Co’s holdings, making the stock its 19th biggest position. Argent Trust Co’s holdings in The Coca-Cola were worth $16,346,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Retirement Group LLC increased its stake in The Coca-Cola by 70.4% during the 1st quarter. Retirement Group LLC now owns 484 shares of the company’s stock valued at $26,000 after purchasing an additional 200 shares in the last quarter. Paradigm Strategies in Wealth Management LLC acquired a new position in The Coca-Cola during the 1st quarter valued at approximately $29,000. Elkhorn Partners Limited Partnership acquired a new position in The Coca-Cola during the 1st quarter valued at approximately $32,000. Merrion Investment Management Co LLC acquired a new position in The Coca-Cola during the 4th quarter valued at approximately $33,000. Finally, Alpha DNA Investment Management LLC acquired a new position in The Coca-Cola during the 4th quarter valued at approximately $35,000. 66.29% of the stock is owned by institutional investors.

In other news, VP Kathy Loveless sold 501 shares of the firm’s stock in a transaction dated Friday, March 19th. The shares were sold at an average price of $50.46, for a total value of $25,280.46. Following the transaction, the vice president now directly owns 10,224 shares of the company’s stock, valued at $515,903.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Nikolaos Koumettis sold 60,000 shares of the firm’s stock in a transaction dated Monday, March 29th. The stock was sold at an average price of $53.30, for a total transaction of $3,198,000.00. Following the completion of the transaction, the insider now directly owns 145,011 shares in the company, valued at $7,729,086.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 255,893 shares of company stock worth $13,956,239. Insiders own 1.01% of the company’s stock.

A number of research analysts have issued reports on KO shares. Morgan Stanley upped their price target on shares of The Coca-Cola from $60.00 to $64.00 and gave the company an “overweight” rating in a research note on Friday, June 4th. Citigroup increased their price objective on shares of The Coca-Cola from $54.00 to $57.00 in a research note on Tuesday, April 20th. Credit Suisse Group reiterated a “buy” rating and issued a $60.00 price objective on shares of The Coca-Cola in a research note on Wednesday, April 21st. Wolfe Research initiated coverage on shares of The Coca-Cola in a research note on Monday, April 12th. They issued a “peer perform” rating on the stock. Finally, Royal Bank of Canada upgraded shares of The Coca-Cola from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $55.00 to $60.00 in a research note on Monday, March 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. The Coca-Cola presently has an average rating of “Buy” and a consensus price target of $58.00.

KO traded down $0.06 during midday trading on Friday, hitting $55.85. 213,015 shares of the company traded hands, compared to its average volume of 17,267,244. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.33 and a quick ratio of 1.13. The stock has a market cap of $240.81 billion, a P/E ratio of 33.48, a price-to-earnings-growth ratio of 3.38 and a beta of 0.61. The Coca-Cola Company has a 52-week low of $43.51 and a 52-week high of $56.48. The stock’s 50 day moving average price is $54.37.

The Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Sunday, April 18th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.05. The business had revenue of $9 billion for the quarter, compared to the consensus estimate of $8.58 billion. The Coca-Cola had a net margin of 21.59% and a return on equity of 41.48%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the firm posted $0.51 earnings per share. Equities analysts expect that The Coca-Cola Company will post 2.18 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 1st. Shareholders of record on Tuesday, June 15th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 3.01%. The ex-dividend date is Monday, June 14th. The Coca-Cola’s payout ratio is 86.15%.

The 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; water, enhanced water, and sports drinks; juice, dairy, and plantÂ-based beverages; tea and coffee; and energy drinks. 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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Institutional Ownership by Quarter for The Coca-Cola (NYSE:KO)

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