Burke & Herbert Bank & Trust Co. Sells 345 Shares of The Coca-Cola Company (NYSE:KO)

Burke & Herbert Bank & Trust Co. decreased its stake in The Coca-Cola Company (NYSE:KO) by 0.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,317 shares of the company’s stock after selling 345 shares during the period. Coca-Cola makes up 1.9% of Burke & Herbert Bank & Trust Co.’s portfolio, making the stock its 7th largest holding. Burke & Herbert Bank & Trust Co.’s holdings in Coca-Cola were worth $2,789,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Freedom Wealth Alliance LLC bought a new stake in shares of Coca-Cola in the 4th quarter valued at approximately $25,000. Venturi Wealth Management LLC bought a new stake in Coca-Cola in the first quarter valued at $25,000. Fortis Capital Advisors LLC acquired a new position in Coca-Cola during the fourth quarter worth $30,000. KB Financial Partners LLC acquired a new position in Coca-Cola during the first quarter worth $31,000. Finally, NewSquare Capital LLC lifted its holdings in shares of Coca-Cola by 62.5% during the first quarter. NewSquare Capital LLC now owns 507 shares of the company’s stock valued at $31,000 after acquiring an additional 195 shares during the period. Institutional investors own 68.96% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Beatriz R. Perez sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $62.66, for a total transaction of $3,133,000.00. Following the sale, the senior vice president now owns 143,383 shares in the company, valued at approximately $8,984,378.78. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, SVP Beatriz R. Perez sold 50,000 shares of the firm’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $62.66, for a total value of $3,133,000.00. Following the completion of the sale, the senior vice president now directly owns 143,383 shares in the company, valued at approximately $8,984,378.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Monica Howard Douglas sold 21,074 shares of Coca-Cola stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $60.90, for a total value of $1,283,406.60. Following the transaction, the senior vice president now owns 18,360 shares of the company’s stock, valued at $1,118,124. The disclosure for this sale can be found here. Insiders have sold 227,364 shares of company stock valued at $14,122,016 in the last three months. 1.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on KO. Wedbush increased their target price on shares of Coca-Cola from $70.00 to $71.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. Barclays increased their price target on Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, July 28th. JPMorgan Chase & Co. boosted their price objective on Coca-Cola from $67.00 to $71.00 and gave the stock an “overweight” rating in a research note on Thursday, July 27th. HSBC cut their price target on Coca-Cola from $77.00 to $74.00 in a report on Wednesday, June 7th. Finally, StockNews.com began coverage on shares of Coca-Cola in a research report on Thursday, August 17th. They issued a “buy” rating for the company. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $68.33.

Coca-Cola Stock Up 0.6 %

KO traded up $0.36 during trading on Monday, reaching $58.30. The company had a trading volume of 6,429,970 shares, compared to its average volume of 13,118,354. The business’s fifty day moving average price is $60.49 and its 200 day moving average price is $61.25. The company has a market cap of $252.11 billion, a P/E ratio of 23.74, a PEG ratio of 3.43 and a beta of 0.55. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.14 and a quick ratio of 0.95. The Coca-Cola Company has a 12 month low of $54.01 and a 12 month high of $64.99.

Coca-Cola (NYSE:KO) last announced its earnings results on Wednesday, July 26th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. Coca-Cola had a return on equity of 43.06% and a net margin of 23.81%. The business had revenue of $12 billion for the quarter, compared to analyst estimates of $11.74 billion. During the same quarter last year, the firm earned $0.70 EPS. Coca-Cola’s revenue for the quarter was up 6.2% compared to the same quarter last year. Equities analysts anticipate that The Coca-Cola Company will post 2.63 EPS for the current year.

Coca-Cola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be paid a $0.46 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.84 annualized dividend and a yield of 3.16%. Coca-Cola’s payout ratio is currently 75.72%.

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.