Commerce Bank Has $34.84 Million Stock Position in The Coca-Cola Company (NYSE:KO)

Commerce Bank grew its stake in The Coca-Cola Company (NYSE:KO) by 0.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 484,765 shares of the company’s stock after purchasing an additional 1,227 shares during the quarter. Commerce Bank’s holdings in Coca-Cola were worth $34,835,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. New Millennium Group LLC acquired a new stake in Coca-Cola during the 2nd quarter worth $26,000. Quarry LP acquired a new stake in Coca-Cola during the 2nd quarter worth $27,000. Hara Capital LLC acquired a new stake in Coca-Cola during the 3rd quarter worth $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Coca-Cola during the 3rd quarter worth $36,000. Finally, Mount Lucas Management LP acquired a new stake in Coca-Cola during the 2nd quarter worth $38,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Stock Up 1.2 %

NYSE KO opened at $62.58 on Wednesday. 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 Coca-Cola Company has a 1-year low of $56.96 and a 1-year high of $73.53. The company has a 50 day moving average of $68.25 and a 200-day moving average of $66.55. The company has a market cap of $269.58 billion, a price-to-earnings ratio of 25.86, a PEG ratio of 3.75 and a beta of 0.61.

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

Coca-Cola Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid 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 dividend yield of 3.10%. Coca-Cola’s payout ratio is presently 80.17%.

Insiders Place Their Bets

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were 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 owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the completion of the sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,968,095. This represents a 7.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 160,881 shares of company stock valued at $10,693,244. 0.97% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages recently commented on KO. Deutsche Bank Aktiengesellschaft raised their price objective on Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Wells Fargo & Company lifted their price target on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Cfra reissued a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Barclays dropped their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Finally, TD Cowen lifted their price target on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $72.36.

Coca-Cola 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.