Wesbanco Bank Inc. Decreases Holdings in The Coca-Cola Company (NYSE:KO)

Wesbanco Bank Inc. trimmed its position in shares of The Coca-Cola Company (NYSE:KO) by 1.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 242,565 shares of the company’s stock after selling 3,648 shares during the period. Wesbanco Bank Inc.’s holdings in Coca-Cola were worth $17,431,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. New Millennium Group LLC purchased a new position in shares of Coca-Cola during the 2nd quarter valued at about $26,000. Quarry LP purchased a new position in shares of Coca-Cola during the 2nd quarter valued at about $27,000. Redmont Wealth Advisors LLC purchased a new position in shares of Coca-Cola during the 1st quarter valued at about $28,000. ESL Trust Services LLC purchased a new position in shares of Coca-Cola during the 1st quarter valued at about $28,000. Finally, DiNuzzo Private Wealth Inc. raised its holdings in shares of Coca-Cola by 65.0% during the 1st quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock valued at $32,000 after buying an additional 206 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Bank of America raised their price target on Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Morgan Stanley raised their price target on Coca-Cola from $70.00 to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 27th. Cfra restated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Finally, BNP Paribas assumed coverage on Coca-Cola in a research report on Monday, June 24th. They issued an “outperform” rating and a $72.00 price objective on the stock. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $71.33.

Coca-Cola Stock Up 1.1 %

Shares of NYSE:KO opened at $70.37 on Tuesday. The stock has a fifty day simple moving average of $70.56 and a two-hundred day simple moving average of $65.52. The stock has a market capitalization of $303.15 billion, a price-to-earnings ratio of 28.15, a PEG ratio of 3.92 and a beta of 0.60. The Coca-Cola Company has a 12-month low of $52.84 and a 12-month high of $73.53. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating 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 business had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.78 billion. During the same quarter in the previous year, the business earned $0.78 earnings per share. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, research analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend was Friday, September 13th. Coca-Cola’s dividend payout ratio is currently 77.60%.

Insider Transactions at Coca-Cola

In other news, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at $15,968,095. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Bruno Pietracci sold 38,653 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $69.01, for a total transaction of $2,667,443.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 376,096 shares of company stock worth $25,982,352 over the last quarter. 0.97% of the stock is currently owned by insiders.

Coca-Cola 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.