Bank & Trust Co Reduces Stock Position in The Coca-Cola Company (NYSE:KO)

Bank & Trust Co reduced its holdings in shares of The Coca-Cola Company (NYSE:KO) by 0.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,056 shares of the company’s stock after selling 167 shares during the quarter. Coca-Cola accounts for about 1.0% of Bank & Trust Co’s investment portfolio, making the stock its 29th largest holding. Bank & Trust Co’s holdings in Coca-Cola were worth $1,186,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in KO. Canandaigua National Trust Co of Florida raised its stake in shares of Coca-Cola by 34.5% in the 4th quarter. Canandaigua National Trust Co of Florida now owns 6,244 shares of the company’s stock valued at $389,000 after purchasing an additional 1,600 shares in the last quarter. Capital Market Strategies LLC acquired a new position in Coca-Cola in the fourth quarter worth $202,000. Neville Rodie & Shaw Inc. increased its stake in Coca-Cola by 12.7% during the fourth quarter. Neville Rodie & Shaw Inc. now owns 60,035 shares of the company’s stock valued at $3,738,000 after purchasing an additional 6,760 shares during the last quarter. Burkett Financial Services LLC raised its holdings in shares of Coca-Cola by 4.1% during the fourth quarter. Burkett Financial Services LLC now owns 5,572 shares of the company’s stock worth $347,000 after purchasing an additional 221 shares during the period. Finally, CWA Asset Management Group LLC lifted its position in shares of Coca-Cola by 16.2% in the 4th quarter. CWA Asset Management Group LLC now owns 19,407 shares of the company’s stock worth $1,208,000 after buying an additional 2,706 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Insider Activity at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the 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 transaction, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.97% of the company’s stock.

Coca-Cola Stock Up 0.3 %

NYSE:KO traded up $0.18 on Tuesday, hitting $60.99. 5,700,265 shares of the company’s stock traded hands, compared to its average volume of 11,616,638. The firm has a 50-day moving average price of $63.25 and a 200-day moving average price of $66.57. 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 company has a market cap of $262.73 billion, a PE ratio of 25.20, a price-to-earnings-growth ratio of 3.83 and a beta of 0.61. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping 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 business had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. During the same period in the prior year, the business posted $0.74 earnings per share. Coca-Cola’s revenue for the quarter was down .8% compared to the same quarter last year. Equities analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were issued a $0.485 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a yield of 3.18%. Coca-Cola’s dividend payout ratio is currently 80.17%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on KO shares. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and increased their price objective for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. Morgan Stanley dropped their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Truist Financial boosted their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Finally, Piper Sandler assumed coverage on shares of Coca-Cola in a research note on Tuesday. They issued an “overweight” rating and a $74.00 price target on the stock. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and an average price target of $72.27.

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.