Parkside Financial Bank & Trust Acquires 7,134 Shares of CocaCola Company (The) $KO

Parkside Financial Bank & Trust boosted its holdings in CocaCola Company (The) (NYSE:KO) by 25.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 35,195 shares of the company’s stock after purchasing an additional 7,134 shares during the quarter. Parkside Financial Bank & Trust’s holdings in CocaCola were worth $2,490,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of CocaCola by 0.3% during the first quarter. Vanguard Group Inc. now owns 361,200,808 shares of the company’s stock worth $25,869,202,000 after acquiring an additional 1,114,422 shares during the last quarter. Wellington Management Group LLP lifted its stake in CocaCola by 52.7% in the 1st quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company’s stock worth $3,398,185,000 after purchasing an additional 16,383,870 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of CocaCola by 6.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 30,889,415 shares of the company’s stock valued at $2,212,300,000 after purchasing an additional 1,794,561 shares during the last quarter. Amundi boosted its holdings in shares of CocaCola by 16.0% during the 1st quarter. Amundi now owns 21,236,315 shares of the company’s stock valued at $1,554,074,000 after purchasing an additional 2,922,619 shares during the last quarter. Finally, Nuveen LLC purchased a new position in shares of CocaCola during the first quarter valued at about $1,508,657,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

CocaCola Trading Up 2.2%

KO stock opened at $70.61 on Friday. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The stock has a market capitalization of $303.75 billion, a price-to-earnings ratio of 23.38, a price-to-earnings-growth ratio of 3.57 and a beta of 0.43. The company has a quick ratio of 1.00, a current ratio of 1.21 and a debt-to-equity ratio of 1.30. The firm’s fifty day simple moving average is $67.75 and its two-hundred day simple moving average is $69.56.

CocaCola (NYSE:KO) last announced its quarterly earnings data on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. The business had revenue of $11.40 billion during the quarter. As a group, analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a $0.51 dividend. The ex-dividend date is Monday, December 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.9%. CocaCola’s payout ratio is presently 67.55%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on KO shares. Royal Bank Of Canada set a $76.00 target price on CocaCola and gave the stock an “outperform” rating in a research report on Monday, July 21st. TD Cowen lifted their price objective on CocaCola from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. BNP Paribas reaffirmed an “outperform” rating and set a $83.00 price objective on shares of CocaCola in a report on Monday, July 21st. UBS Group lowered their target price on CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, September 11th. Finally, Piper Sandler boosted their price target on shares of CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $78.43.

Insider Buying and Selling

In other news, EVP Monica Howard Douglas sold 13,548 shares of the firm’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $69.93, for a total transaction of $947,411.64. Following the transaction, the executive vice president owned 37,725 shares in the company, valued at approximately $2,638,109.25. This trade represents a 26.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Max R. Levchin purchased 7,206 shares of CocaCola stock in a transaction dated Friday, October 24th. The stock was acquired at an average price of $69.87 per share, with a total value of $503,483.22. Following the acquisition, the director owned 14,267 shares in the company, valued at approximately $996,835.29. This represents a 102.05% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.97% of the stock is currently owned by insiders.

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.