Parkside Financial Bank & Trust Acquires 899 Shares of The Coca-Cola Company (NYSE:KO)

Parkside Financial Bank & Trust grew its holdings in The Coca-Cola Company (NYSE:KO) by 3.9% during the 2nd quarter, Holdings Channel reports. The fund owned 24,132 shares of the company’s stock after buying an additional 899 shares during the period. Parkside Financial Bank & Trust’s holdings in Coca-Cola were worth $1,536,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of KO. New Millennium Group LLC bought a new stake in Coca-Cola during the 2nd quarter worth approximately $26,000. Tidemark LLC purchased a new stake in shares of Coca-Cola in the fourth quarter worth $26,000. ESL Trust Services LLC bought a new stake in shares of Coca-Cola during the 1st quarter valued at $28,000. Redmont Wealth Advisors LLC purchased a new position in shares of Coca-Cola during the 1st quarter valued at $28,000. Finally, Private Wealth Management Group LLC bought a new position in Coca-Cola in the 4th quarter worth $27,000. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Trading Down 0.2 %

KO stock traded down $0.11 during midday trading on Friday, reaching $71.06. 2,741,901 shares of the company traded hands, compared to its average volume of 13,114,427. The firm has a market capitalization of $306.12 billion, a price-to-earnings ratio of 28.47, a P/E/G ratio of 4.05 and a beta of 0.59. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08. The business has a 50 day moving average of $67.33 and a 200-day moving average of $63.46. The Coca-Cola Company has a 52-week low of $51.55 and a 52-week high of $73.53.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The company had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.78 billion. During the same period last year, the company earned $0.78 earnings per share. Coca-Cola’s revenue was up 3.3% on a year-over-year basis. As a group, sell-side analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.94 annualized dividend and a yield of 2.73%. Coca-Cola’s payout ratio is 77.60%.

Insider Buying and Selling

In other Coca-Cola news, major shareholder Cola Co Coca sold 598,619 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the completion of the transaction, the insider now owns 1,883,546 shares in the company, valued at $1,742,280,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola stock in a transaction on Friday, July 5th. The stock was sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the completion of the sale, the insider now directly owns 1,883,546 shares in the company, valued at $1,742,280,050. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Nikolaos Koumettis sold 80,891 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $62.34, for a total transaction of $5,042,744.94. Following the completion of the transaction, the insider now owns 218,880 shares in the company, valued at $13,644,979.20. The disclosure for this sale can be found here. Insiders have sold 1,074,910 shares of company stock valued at $585,972,318 in the last ninety days. 0.97% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

KO has been the subject of several research analyst reports. BNP Paribas started coverage on Coca-Cola in a research report on Monday, June 24th. They set an “outperform” rating and a $72.00 target price for the company. Argus lifted their price objective on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, May 22nd. StockNews.com downgraded shares of Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Citigroup raised their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, Cfra reiterated a “hold” rating on shares of Coca-Cola in a research note on Thursday. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and an average price target of $70.73.

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, 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.