The Coca-Cola Co (NYSE:KO) Position Cut by Trust Co. of Oklahoma

Trust Co. of Oklahoma trimmed its holdings in The Coca-Cola Co (NYSE:KO) by 2.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,600 shares of the company’s stock after selling 600 shares during the quarter. Trust Co. of Oklahoma’s holdings in The Coca-Cola were worth $1,405,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of KO. Arbor Wealth Management LLC lifted its stake in shares of The Coca-Cola by 13.2% in the second quarter. Arbor Wealth Management LLC now owns 1,706 shares of the company’s stock valued at $87,000 after buying an additional 199 shares during the period. Centerpoint Advisors LLC raised its stake in shares of The Coca-Cola by 13.3% in the second quarter. Centerpoint Advisors LLC now owns 1,734 shares of the company’s stock valued at $88,000 after acquiring an additional 203 shares during the last quarter. Paulson Wealth Management Inc. raised its stake in shares of The Coca-Cola by 3.2% in the first quarter. Paulson Wealth Management Inc. now owns 6,622 shares of the company’s stock valued at $310,000 after acquiring an additional 208 shares during the last quarter. OmniStar Financial Group Inc. raised its stake in shares of The Coca-Cola by 1.3% in the first quarter. OmniStar Financial Group Inc. now owns 17,021 shares of the company’s stock valued at $798,000 after acquiring an additional 216 shares during the last quarter. Finally, Chessman Wealth Strategies RIA raised its stake in shares of The Coca-Cola by 1.3% in the first quarter. Chessman Wealth Strategies RIA now owns 17,483 shares of the company’s stock valued at $819,000 after acquiring an additional 230 shares during the last quarter. 66.64% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have recently issued reports on KO shares. Wells Fargo & Co lifted their target price on shares of The Coca-Cola from $50.00 to $52.00 and gave the company an “outperform” rating in a research note on Tuesday, April 16th. Credit Suisse Group lifted their target price on shares of The Coca-Cola from $49.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Royal Bank of Canada reiterated a “buy” rating and issued a $60.00 target price on shares of The Coca-Cola in a research note on Wednesday, July 24th. Barclays set a $54.00 target price on shares of The Coca-Cola and gave the company a “buy” rating in a research note on Thursday, May 16th. Finally, JPMorgan Chase & Co. lifted their target price on shares of The Coca-Cola from $50.00 to $59.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Twelve investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The Coca-Cola currently has an average rating of “Hold” and a consensus price target of $53.86.

In other news, insider James L. Dinkins sold 45,875 shares of The Coca-Cola stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $53.26, for a total transaction of $2,443,302.50. Following the transaction, the insider now directly owns 95,101 shares of the company’s stock, valued at $5,065,079.26. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Jennifer K. Mann sold 9,126 shares of The Coca-Cola stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $53.48, for a total transaction of $488,058.48. Following the transaction, the insider now directly owns 41,175 shares in the company, valued at $2,202,039. The disclosure for this sale can be found here. Insiders have sold a total of 369,175 shares of company stock valued at $18,634,452 in the last ninety days. Company insiders own 1.33% of the company’s stock.

KO traded up $0.23 during trading on Tuesday, reaching $51.88. 550,703 shares of the company’s stock were exchanged, compared to its average volume of 12,530,342. The firm has a fifty day moving average of $52.09. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.83 and a quick ratio of 0.71. The Coca-Cola Co has a fifty-two week low of $44.25 and a fifty-two week high of $54.82. The firm has a market cap of $223.76 billion, a price-to-earnings ratio of 24.95, a PEG ratio of 3.64 and a beta of 0.48.

The Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, July 23rd. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. The Coca-Cola had a net margin of 21.11% and a return on equity of 45.67%. The firm had revenue of $10 billion during the quarter, compared to analyst estimates of $9.86 billion. During the same quarter in the previous year, the business earned $0.61 EPS. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. Equities research analysts forecast that The Coca-Cola Co will post 2.1 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend is Friday, September 13th. The Coca-Cola’s dividend payout ratio is presently 76.92%.

The Coca-Cola Profile

The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plant–based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

Featured Story: Gap Up Stocks

Want to see what other hedge funds are holding KO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Coca-Cola Co (NYSE:KO).

Institutional Ownership by Quarter for The Coca-Cola (NYSE:KO)

Receive News & Ratings for The Coca-Cola Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Coca-Cola and related companies with MarketBeat.com's FREE daily email newsletter.