CHICAGO TRUST Co NA Sells 750 Shares of The Coca-Cola Co (KO)
CHICAGO TRUST Co NA lessened its stake in shares of The Coca-Cola Co (NYSE:KO) by 3.6% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 19,909 shares of the company’s stock after selling 750 shares during the period. CHICAGO TRUST Co NA’s holdings in The Coca-Cola were worth $933,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in KO. Orrstown Financial Services Inc. boosted its stake in shares of The Coca-Cola by 230.8% in the first quarter. Orrstown Financial Services Inc. now owns 741 shares of the company’s stock worth $35,000 after acquiring an additional 517 shares during the period. Transamerica Financial Advisors Inc. boosted its stake in shares of The Coca-Cola by 567.7% in the fourth quarter. Transamerica Financial Advisors Inc. now owns 848 shares of the company’s stock worth $41,000 after acquiring an additional 721 shares during the period. Financial Gravity Companies Inc. bought a new position in shares of The Coca-Cola in the fourth quarter worth about $45,000. Cordasco Financial Network boosted its stake in shares of The Coca-Cola by 26.1% in the fourth quarter. Cordasco Financial Network now owns 1,034 shares of the company’s stock worth $49,000 after acquiring an additional 214 shares during the period. Finally, PRW Wealth Management LLC bought a new position in shares of The Coca-Cola in the fourth quarter worth about $50,000. 67.99% of the stock is owned by institutional investors and hedge funds.
In other The Coca-Cola news, SVP Nancy Quan sold 23,320 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $47.95, for a total transaction of $1,118,194.00. Following the sale, the senior vice president now directly owns 165,049 shares in the company, valued at $7,914,099.55. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Francisco Crespo sold 16,426 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $49.00, for a total value of $804,874.00. Following the sale, the insider now owns 77,109 shares in the company, valued at $3,778,341. The disclosure for this sale can be found here. 1.33% of the stock is currently owned by insiders.
The Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, April 23rd. The company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. The company had revenue of $8 billion for the quarter, compared to the consensus estimate of $7.89 billion. The Coca-Cola had a return on equity of 45.12% and a net margin of 20.91%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.47 earnings per share. On average, equities research analysts anticipate that The Coca-Cola Co will post 2.1 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a $0.40 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.25%. The Coca-Cola’s dividend payout ratio is currently 76.92%.
A number of research firms have recently weighed in on KO. Zacks Investment Research raised The Coca-Cola from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research note on Friday, April 26th. Morgan Stanley raised The Coca-Cola from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $52.00 to $55.00 in a research note on Tuesday. UBS Group upped their price objective on The Coca-Cola from $50.00 to $52.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. ValuEngine raised The Coca-Cola from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Finally, Wells Fargo & Co upped their price objective on The Coca-Cola from $50.00 to $52.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 16th. Fourteen investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $50.95.
About The Coca-Cola
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 plantbased 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.
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