Cadence Bank Has $5.10 Million Stock Holdings in The Coca-Cola Company (NYSE:KO)

Cadence Bank lifted its stake in shares of The Coca-Cola Company (NYSE:KO) by 1.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 70,972 shares of the company’s stock after buying an additional 668 shares during the quarter. Cadence Bank’s holdings in Coca-Cola were worth $5,100,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of KO. FMR LLC raised its holdings in shares of Coca-Cola by 13.7% during the third quarter. FMR LLC now owns 92,961,376 shares of the company’s stock valued at $6,680,205,000 after purchasing an additional 11,206,995 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Coca-Cola in the third quarter worth approximately $269,382,000. Manning & Napier Advisors LLC acquired a new stake in Coca-Cola in the second quarter valued at approximately $188,448,000. Pathway Financial Advisers LLC grew its stake in Coca-Cola by 7,006.8% in the third quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company’s stock valued at $178,104,000 after acquiring an additional 2,443,612 shares during the period. Finally, Fisher Asset Management LLC raised its position in shares of Coca-Cola by 39.7% during the third quarter. Fisher Asset Management LLC now owns 6,765,669 shares of the company’s stock worth $486,181,000 after purchasing an additional 1,921,241 shares during the period. Institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

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

Coca-Cola Trading Up 0.3 %

Shares of KO stock opened at $64.58 on Wednesday. The Coca-Cola Company has a 12-month low of $57.47 and a 12-month high of $73.53. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The company has a 50 day moving average of $67.49 and a 200-day moving average of $66.59. The firm has a market cap of $278.20 billion, a P/E ratio of 26.69, a PEG ratio of 3.91 and a beta of 0.61.

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

Coca-Cola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $0.485 per share. The ex-dividend date is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a yield of 3.00%. Coca-Cola’s dividend payout ratio is presently 80.17%.

Insider Activity

In related news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.97% of the company’s stock.

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.