The Coca-Cola Company (NYSE:KO) Shares Bought by Burke & Herbert Bank & Trust Co.

Burke & Herbert Bank & Trust Co. raised its holdings in The Coca-Cola Company (NYSE:KO) by 112.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 94,846 shares of the company’s stock after acquiring an additional 50,157 shares during the period. Coca-Cola makes up approximately 1.5% of Burke & Herbert Bank & Trust Co.’s investment portfolio, making the stock its 14th largest position. Burke & Herbert Bank & Trust Co.’s holdings in Coca-Cola were worth $6,037,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Coca-Cola in the 4th quarter valued at approximately $2,808,056,000. Price T Rowe Associates Inc. MD grew its stake in shares of Coca-Cola by 21.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock valued at $3,016,023,000 after buying an additional 8,733,326 shares during the period. Fisher Asset Management LLC grew its stake in shares of Coca-Cola by 11,138.6% in the 4th quarter. Fisher Asset Management LLC now owns 4,977,819 shares of the company’s stock valued at $293,343,000 after buying an additional 4,933,527 shares during the period. Pathstone Holdings LLC purchased a new stake in shares of Coca-Cola in the 4th quarter valued at approximately $193,342,000. Finally, Putnam Investments LLC grew its stake in shares of Coca-Cola by 32.8% in the 4th quarter. Putnam Investments LLC now owns 12,032,095 shares of the company’s stock valued at $709,051,000 after buying an additional 2,973,234 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on KO. Royal Bank of Canada increased their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Morgan Stanley increased their price objective on shares of Coca-Cola from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, June 10th. StockNews.com cut shares of Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Evercore ISI increased their price objective on shares of Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Finally, Truist Financial increased their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $70.20.

Insiders Place Their Bets

In other news, EVP Nancy Quan sold 19,304 shares of Coca-Cola stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $63.44, for a total value of $1,224,645.76. Following the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $14,168,055.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Nancy Quan sold 19,304 shares of Coca-Cola stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $63.44, for a total value of $1,224,645.76. Following the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $14,168,055.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Henrique Braun sold 57,298 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $63.08, for a total transaction of $3,614,357.84. Following the sale, the executive vice president now directly owns 52,466 shares in the company, valued at approximately $3,309,555.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 928,460 shares of company stock valued at $575,312,245. Insiders own 0.97% of the company’s stock.

Coca-Cola Stock Up 0.4 %

NYSE:KO traded up $0.29 during midday trading on Tuesday, hitting $68.46. 9,840,245 shares of the company were exchanged, compared to its average volume of 13,059,503. The company has a fifty day simple moving average of $64.73 and a 200 day simple moving average of $62.15. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $69.67. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The company has a market capitalization of $294.92 billion, a PE ratio of 27.36, a price-to-earnings-growth ratio of 3.80 and a beta of 0.59.

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

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 2.83%. The ex-dividend date is Friday, September 13th. Coca-Cola’s payout ratio is currently 77.60%.

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.