Field & Main Bank Acquires 175 Shares of CocaCola Company (The) $KO

Field & Main Bank increased its position in CocaCola Company (The) (NYSE:KO) by 0.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 45,099 shares of the company’s stock after buying an additional 175 shares during the quarter. CocaCola accounts for approximately 1.0% of Field & Main Bank’s investment portfolio, making the stock its 29th largest position. Field & Main Bank’s holdings in CocaCola were worth $3,191,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in CocaCola by 0.3% in the first quarter. Vanguard Group Inc. now owns 361,200,808 shares of the company’s stock valued at $25,869,202,000 after buying an additional 1,114,422 shares during the period. Wellington Management Group LLP raised its holdings in shares of 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 during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in CocaCola by 6.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 30,889,415 shares of the company’s stock worth $2,212,300,000 after purchasing an additional 1,794,561 shares during the period. Amundi lifted its holdings in CocaCola by 16.0% during the 1st quarter. Amundi now owns 21,236,315 shares of the company’s stock worth $1,554,074,000 after purchasing an additional 2,922,619 shares in the last quarter. Finally, Nuveen LLC bought a new position in shares of CocaCola in the first quarter worth $1,508,657,000. 70.26% of the stock is owned by institutional investors and hedge funds.

CocaCola Price Performance

Shares of NYSE KO opened at $68.30 on Thursday. The stock’s 50-day simple moving average is $67.79 and its 200-day simple moving average is $69.71. The firm has a market capitalization of $293.82 billion, a PE ratio of 22.62, a price-to-earnings-growth ratio of 3.66 and a beta of 0.43. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.00 and a current ratio of 1.21.

CocaCola (NYSE:KO) last released its earnings results on Thursday, March 27th. The company reported $0.55 EPS for the quarter. The company had revenue of $11.40 billion during the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. As a group, equities research analysts forecast that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a dividend of $0.51 per share. The ex-dividend date is Monday, December 1st. This represents a $2.04 annualized dividend and a yield of 3.0%. CocaCola’s payout ratio is currently 67.55%.

Insiders Place Their Bets

In other news, EVP Monica Howard Douglas sold 13,548 shares of CocaCola stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $69.93, for a total value of $947,411.64. Following the completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total transaction of $2,584,063.60. Following the completion of the transaction, the insider directly owned 209,513 shares of the company’s stock, valued at $14,477,348.30. This trade represents a 15.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.97% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

KO has been the subject of a number of recent research reports. TD Cowen boosted their target price on CocaCola from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Piper Sandler upped their price target on CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Barclays restated an “overweight” rating on shares of CocaCola in a research report on Thursday, October 23rd. Evercore ISI reaffirmed an “outperform” rating on shares of CocaCola in a research note on Tuesday, October 21st. Finally, Cowen reiterated a “buy” rating on shares of CocaCola in a research note on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the stock. According to data from MarketBeat.com, CocaCola currently has a consensus rating of “Buy” and an average price target of $78.31.

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.