Atlantic Union Bankshares Corp Has $4.23 Million Stock Holdings in The Coca-Cola Company (NYSE:KO)

Atlantic Union Bankshares Corp cut its position in The Coca-Cola Company (NYSE:KO) by 2.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 58,883 shares of the company’s stock after selling 1,398 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Coca-Cola were worth $4,231,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Cetera Advisors LLC lifted its position in Coca-Cola by 39.9% in the 1st quarter. Cetera Advisors LLC now owns 366,670 shares of the company’s stock valued at $22,433,000 after acquiring an additional 104,506 shares in the last quarter. Cetera Advisor Networks LLC lifted its position in Coca-Cola by 4.1% in the 1st quarter. Cetera Advisor Networks LLC now owns 509,277 shares of the company’s stock valued at $31,158,000 after acquiring an additional 19,985 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Coca-Cola by 16.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 12,419 shares of the company’s stock valued at $767,000 after acquiring an additional 1,722 shares in the last quarter. OMC Financial Services LTD bought a new position in Coca-Cola in the 1st quarter valued at about $699,000. Finally, American Trust lifted its position in shares of Coca-Cola by 4.9% during the 1st quarter. American Trust now owns 13,683 shares of the company’s stock worth $837,000 after buying an additional 638 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the completion of the transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on KO. Morgan Stanley dropped their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Barclays dropped their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Wells Fargo & Company lifted their target price on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Finally, Truist Financial lifted their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Coca-Cola has a consensus rating of “Moderate Buy” and an average price target of $72.36.

Coca-Cola Stock Down 0.2 %

Coca-Cola stock opened at $64.43 on Friday. The Coca-Cola Company has a 1-year low of $57.47 and a 1-year high of $73.53. The firm has a market capitalization of $277.55 billion, a price-to-earnings ratio of 26.62, a P/E/G ratio of 3.91 and a beta of 0.61. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The firm has a 50 day simple moving average of $67.22 and a 200 day simple moving average of $66.56.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. The firm had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The business’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the previous year, the business earned $0.74 EPS. On average, analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.01%. Coca-Cola’s dividend payout ratio (DPR) is currently 80.17%.

Coca-Cola Company 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.