Atlantic Union Bankshares Corp Sells 763 Shares of The Coca-Cola Company (NYSE:KO)

Atlantic Union Bankshares Corp lessened its stake in shares of The Coca-Cola Company (NYSE:KO) by 1.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 58,120 shares of the company’s stock after selling 763 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Coca-Cola were worth $3,619,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of KO. Mainstream Capital Management LLC bought a new stake in shares of Coca-Cola during the fourth quarter worth $31,000. Hara Capital LLC bought a new stake in shares of Coca-Cola during the third quarter worth $35,000. Retirement Wealth Solutions LLC bought a new stake in shares of Coca-Cola during the fourth quarter worth $37,000. MilWealth Group LLC bought a new stake in shares of Coca-Cola during the fourth quarter worth $40,000. Finally, MidAtlantic Capital Management Inc. bought a new stake in shares of Coca-Cola during the third quarter worth $43,000. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Price Performance

Shares of NYSE KO opened at $71.52 on Friday. The Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53. The stock has a market cap of $307.60 billion, a price-to-earnings ratio of 28.96, a PEG ratio of 3.79 and a beta of 0.57. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The firm’s 50-day simple moving average is $65.36 and its 200 day simple moving average is $66.60.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. As a group, research analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.51 per share. The ex-dividend date is Friday, March 14th. This represents a $2.04 annualized dividend and a dividend yield of 2.85%. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio (DPR) is currently 82.59%.

Insiders Place Their Bets

In other Coca-Cola news, EVP Lisa Chang sold 13,445 shares of Coca-Cola stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $71.50, for a total transaction of $961,317.50. Following the transaction, the executive vice president now owns 94,676 shares of the company’s stock, valued at $6,769,334. This trade represents a 12.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bruno Pietracci sold 19,058 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $70.56, for a total transaction of $1,344,732.48. The disclosure for this sale can be found here. Insiders have sold a total of 232,646 shares of company stock valued at $16,515,469 in the last 90 days. 0.97% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on KO shares. JPMorgan Chase & Co. reduced their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 price objective on shares of Coca-Cola in a research note on Thursday, February 6th. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. UBS Group boosted their price objective on shares of Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Finally, DZ Bank raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research note on Thursday, February 13th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus target price of $74.24.

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.