Norway Savings Bank Sells 330 Shares of The Coca-Cola Company (NYSE:KO)

Norway Savings Bank reduced its position in shares of The Coca-Cola Company (NYSE:KO) by 1.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,793 shares of the company’s stock after selling 330 shares during the period. Norway Savings Bank’s holdings in Coca-Cola were worth $1,357,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of KO. Quarry LP bought a new position in shares of Coca-Cola in the second quarter valued at $27,000. Hara Capital LLC acquired a new stake in Coca-Cola in the third quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Coca-Cola in the 3rd quarter valued at about $36,000. Mount Lucas Management LP acquired a new position in shares of Coca-Cola during the 2nd quarter worth about $38,000. Finally, MidAtlantic Capital Management Inc. bought a new stake in shares of Coca-Cola in the 3rd quarter valued at about $43,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Price Performance

Shares of NYSE:KO remained flat at $60.81 during midday trading on Tuesday. 9,994,381 shares of the stock traded hands, compared to its average volume of 12,736,998. The stock has a fifty day moving average price of $63.25 and a 200-day moving average price of $66.57. 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 Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53. The company has a market capitalization of $261.96 billion, a P/E ratio of 25.13, a P/E/G ratio of 3.83 and a beta of 0.61.

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

Coca-Cola Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date was Friday, November 29th. Coca-Cola’s dividend payout ratio is 80.17%.

Insider Buying and Selling at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the completion of the transaction, the chief executive officer now 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 this hyperlink. Company insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

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

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.