Camden National Bank Boosts Stake in The Coca-Cola Co (NYSE:KO)

Camden National Bank raised its holdings in The Coca-Cola Co (NYSE:KO) by 14.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,614 shares of the company’s stock after purchasing an additional 1,569 shares during the quarter. Camden National Bank’s holdings in The Coca-Cola were worth $686,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Vanguard Group Inc. grew its stake in The Coca-Cola by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 308,293,644 shares of the company’s stock worth $15,698,312,000 after purchasing an additional 4,225,080 shares in the last quarter. Northern Trust Corp grew its stake in The Coca-Cola by 1.1% during the 2nd quarter. Northern Trust Corp now owns 52,096,293 shares of the company’s stock worth $2,652,743,000 after purchasing an additional 589,927 shares in the last quarter. Morgan Stanley grew its stake in The Coca-Cola by 15.0% during the 2nd quarter. Morgan Stanley now owns 41,763,050 shares of the company’s stock worth $2,126,574,000 after purchasing an additional 5,449,889 shares in the last quarter. Nuveen Asset Management LLC grew its stake in The Coca-Cola by 9,580.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 32,579,854 shares of the company’s stock worth $1,658,966,000 after purchasing an additional 32,243,310 shares in the last quarter. Finally, California Public Employees Retirement System grew its stake in The Coca-Cola by 20.9% during the 2nd quarter. California Public Employees Retirement System now owns 23,023,556 shares of the company’s stock worth $1,172,359,000 after purchasing an additional 3,984,190 shares in the last quarter. Institutional investors own 67.48% of the company’s stock.

Shares of The Coca-Cola stock traded down $0.36 on Friday, hitting $53.30. The stock had a trading volume of 8,981,264 shares, compared to its average volume of 11,184,790. The Coca-Cola Co has a 52-week low of $44.25 and a 52-week high of $55.92. The company has a current ratio of 0.83, a quick ratio of 0.71 and a debt-to-equity ratio of 1.44. The stock has a market cap of $229.11 billion, a price-to-earnings ratio of 25.63, a P/E/G ratio of 3.73 and a beta of 0.45. The company’s 50 day moving average price is $54.39 and its 200 day moving average price is $51.22.

The Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, July 23rd. The company reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.01. The Coca-Cola had a return on equity of 45.67% and a net margin of 21.11%. The business had revenue of $10 billion during the quarter, compared to the consensus estimate of $9.86 billion. During the same period in the previous year, the business earned $0.61 EPS. The business’s quarterly revenue was up 6.1% on a year-over-year basis. Analysts predict that The Coca-Cola Co will post 2.1 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend was Friday, September 13th. The Coca-Cola’s dividend payout ratio is presently 76.92%.

In other The Coca-Cola news, insider Nikolaos Koumettis sold 146,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $54.31, for a total transaction of $7,929,260.00. Following the transaction, the insider now owns 244,451 shares in the company, valued at approximately $13,276,133.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Lisa Chang bought 500 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were acquired at an average price of $53.24 per share, for a total transaction of $26,620.00. Following the transaction, the senior vice president now directly owns 5,448 shares in the company, valued at approximately $290,051.52. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 429,638 shares of company stock valued at $23,411,372. 1.33% of the stock is owned by company insiders.

Several research analysts recently commented on KO shares. BMO Capital Markets boosted their target price on The Coca-Cola from $48.00 to $52.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 24th. ValuEngine cut The Coca-Cola from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. HSBC reaffirmed a “neutral” rating and set a $52.00 price objective on shares of The Coca-Cola in a research report on Wednesday, July 24th. Morgan Stanley set a $60.00 price objective on The Coca-Cola and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Finally, Credit Suisse Group upped their price objective on The Coca-Cola from $49.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Eleven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The Coca-Cola currently has a consensus rating of “Hold” and a consensus target price of $54.26.

The Coca-Cola Company Profile

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.

Read More: Market Capitalization and Individual Investors

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

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