Arvest Bank Trust Division Sells 1,511 Shares of The Coca-Cola Co (NYSE:KO)

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Arvest Bank Trust Division reduced its position in The Coca-Cola Co (NYSE:KO) by 9.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,986 shares of the company’s stock after selling 1,511 shares during the period. Arvest Bank Trust Division’s holdings in The Coca-Cola were worth $763,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of KO. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in The Coca-Cola by 13.3% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 69,969 shares of the company’s stock valued at $3,563,000 after purchasing an additional 8,200 shares during the period. Well Done LLC bought a new stake in shares of The Coca-Cola in the 2nd quarter worth approximately $202,000. Bay Harbor Wealth Management LLC lifted its position in shares of The Coca-Cola by 9.7% in the 2nd quarter. Bay Harbor Wealth Management LLC now owns 7,555 shares of the company’s stock worth $385,000 after acquiring an additional 671 shares during the period. Eqis Capital Management Inc. lifted its position in shares of The Coca-Cola by 25.0% in the 2nd quarter. Eqis Capital Management Inc. now owns 13,622 shares of the company’s stock worth $694,000 after acquiring an additional 2,724 shares during the period. Finally, Sarasin & Partners LLP lifted its position in shares of The Coca-Cola by 3.7% in the 2nd quarter. Sarasin & Partners LLP now owns 381,080 shares of the company’s stock worth $19,405,000 after acquiring an additional 13,520 shares during the period. 66.69% of the stock is currently owned by institutional investors.

In related news, SVP Lisa Chang purchased 500 shares of the stock in a transaction dated Tuesday, August 13th. The stock was bought at an average cost of $53.24 per share, for a total transaction of $26,620.00. Following the completion of the acquisition, the senior vice president now owns 5,448 shares of the company’s stock, valued at $290,051.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Francisco Crespo sold 125,948 shares of the stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $50.00, for a total value of $6,297,400.00. Following the completion of the sale, the insider now owns 186,631 shares of the company’s stock, valued at $9,331,550. The disclosure for this sale can be found here. Insiders have sold 318,761 shares of company stock valued at $16,182,125 over the last 90 days. Corporate insiders own 1.33% of the company’s stock.

A number of equities analysts have recently issued reports on the company. Atlantic Securities assumed coverage on The Coca-Cola in a report on Monday, July 29th. They issued an “overweight” rating and a $62.00 target price for the company. ValuEngine raised The Coca-Cola from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Zacks Investment Research raised The Coca-Cola from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a report on Tuesday, June 4th. Deutsche Bank raised their price target on The Coca-Cola from $59.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, UBS Group lifted their target price on The Coca-Cola from $50.00 to $52.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Eleven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $54.10.

NYSE:KO opened at $53.87 on Friday. The Coca-Cola Co has a 52-week low of $44.25 and a 52-week high of $54.82. The company has a market cap of $227.40 billion, a P/E ratio of 25.90, a P/E/G ratio of 3.70 and a beta of 0.48. The stock’s 50-day simple moving average is $52.48 and its 200 day simple moving average is $49.08. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.71 and a current ratio of 0.83.

The Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. The company had revenue of $10 billion during the quarter, compared to analysts’ expectations of $9.86 billion. The Coca-Cola had a return on equity of 45.67% and a net margin of 21.11%. The business’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.61 earnings per share. As a group, equities analysts predict that The Coca-Cola Co will post 2.1 earnings per share for the current fiscal 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 paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.97%. The ex-dividend date is Friday, September 13th. The Coca-Cola’s payout ratio is presently 76.92%.

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 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.

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

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