Texas Bank & Trust Co Invests $2.44 Million in The Coca-Cola Company (NYSE:KO)

Texas Bank & Trust Co bought a new stake in shares of The Coca-Cola Company (NYSE:KO) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 39,227 shares of the company’s stock, valued at approximately $2,442,000. Coca-Cola makes up 1.0% of Texas Bank & Trust Co’s portfolio, making the stock its 29th largest position.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its stake in Coca-Cola by 18.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company’s stock valued at $4,617,400,000 after buying an additional 11,569,920 shares in the last quarter. Norges Bank bought a new stake in Coca-Cola during the 4th quarter worth about $3,402,151,000. Northern Trust Corp increased its holdings in shares of Coca-Cola by 9.5% in the fourth quarter. Northern Trust Corp now owns 43,802,296 shares of the company’s stock valued at $2,727,131,000 after purchasing an additional 3,811,756 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Coca-Cola by 21.9% in the 4th quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company’s stock valued at $2,123,301,000 after buying an additional 6,118,819 shares during the period. Finally, Capital International Investors increased its position in Coca-Cola by 96.0% in the fourth quarter. Capital International Investors now owns 24,949,194 shares of the company’s stock worth $1,553,337,000 after purchasing an additional 12,222,885 shares during the period. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Up 0.6%

NYSE:KO opened at $72.01 on Friday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The Coca-Cola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The company has a market cap of $309.93 billion, a PE ratio of 29.15, a PEG ratio of 3.79 and a beta of 0.47. The stock has a 50-day simple moving average of $70.88 and a 200 day simple moving average of $66.77.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. The firm had revenue of $11.13 billion during the quarter, compared to analysts’ expectations of $11.23 billion. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The company’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter last year, the company posted $0.72 earnings per share. On average, sell-side analysts expect that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 annualized dividend and a yield of 2.83%. Coca-Cola’s dividend payout ratio is presently 81.60%.

Insiders Place Their Bets

In related news, EVP Beatriz R. Perez sold 60,326 shares of the business’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $71.87, for a total value of $4,335,629.62. Following the transaction, the executive vice president now owns 187,716 shares in the company, valued at $13,491,148.92. The trade was a 24.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lisa Chang sold 13,445 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $71.50, for a total transaction of $961,317.50. Following the transaction, the executive vice president now directly owns 94,676 shares in the company, valued at approximately $6,769,334. This represents a 12.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 462,407 shares of company stock worth $32,990,056 over the last ninety days. Corporate insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on KO. Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their target price for the company from $69.00 to $75.00 in a research note on Thursday, January 30th. Cfra Research raised shares of Coca-Cola to a “strong-buy” rating in a report on Tuesday, April 15th. Wells Fargo & Company increased their price target on Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. JPMorgan Chase & Co. upped their price objective on Coca-Cola from $74.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, April 21st. Finally, Royal Bank of Canada boosted their target price on Coca-Cola from $73.00 to $76.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Coca-Cola currently has a consensus rating of “Buy” and a consensus target price of $75.59.

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.