Enterprise Bank & Trust Co Acquires 485 Shares of The Coca-Cola Company (NYSE:KO)

Enterprise Bank & Trust Co lifted its stake in The Coca-Cola Company (NYSE:KO) by 11.3% during the first quarter, HoldingsChannel reports. The firm owned 4,795 shares of the company’s stock after purchasing an additional 485 shares during the period. Enterprise Bank & Trust Co’s holdings in Coca-Cola were worth $343,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in KO. Tallon Kerry Patrick bought a new stake in shares of Coca-Cola during the fourth quarter valued at approximately $241,000. Brighton Jones LLC raised its position in Coca-Cola by 13.3% during the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock valued at $2,433,000 after purchasing an additional 4,591 shares in the last quarter. Union Bancaire Privee UBP SA bought a new stake in Coca-Cola during the 4th quarter valued at $24,472,000. Revolve Wealth Partners LLC lifted its holdings in shares of Coca-Cola by 3.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock worth $548,000 after buying an additional 293 shares during the period. Finally, Heck Capital Advisors LLC bought a new position in shares of Coca-Cola during the 4th quarter worth $243,000. 70.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on KO. Piper Sandler raised their price target on Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. DZ Bank upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Thursday, February 13th. Evercore ISI raised their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Royal Bank of Canada upped their price target on shares of Coca-Cola from $73.00 to $76.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 30th. Finally, Wells Fargo & Company increased their price objective on shares of Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $75.81.

Coca-Cola Trading Up 0.9%

NYSE:KO opened at $72.13 on Monday. The stock has a market capitalization of $310.47 billion, a price-to-earnings ratio of 29.20, a PEG ratio of 3.79 and a beta of 0.47. The Coca-Cola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The firm has a 50 day moving average of $71.35 and a 200 day moving average of $67.32.

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

Coca-Cola Announces Dividend

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

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, insider Nikolaos Koumettis sold 55,500 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $71.01, for a total transaction of $3,941,055.00. Following the sale, the insider now owns 246,909 shares of the company’s stock, valued at approximately $17,533,008.09. The trade was a 18.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO John Murphy sold 88,658 shares of the firm’s stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the completion of the transaction, the chief financial officer now directly owns 205,511 shares of the company’s stock, valued at approximately $14,815,287.99. This represents a 30.14% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 229,761 shares of company stock worth $16,474,587. 0.97% of the stock is owned by insiders.

About Coca-Cola

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.