First National Trust Co reduced its holdings in shares of The Coca-Cola Co (NYSE:KO) by 2.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 38,720 shares of the company’s stock after selling 1,096 shares during the period. First National Trust Co’s holdings in The Coca-Cola were worth $1,788,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. WP Advisors LLC acquired a new position in The Coca-Cola in the second quarter valued at about $107,000. Signature Estate & Investment Advisors LLC acquired a new position in The Coca-Cola in the second quarter valued at about $116,000. Westbourne Investment Advisors Inc. acquired a new position in The Coca-Cola in the third quarter valued at about $117,000. Fort L.P. acquired a new position in The Coca-Cola in the second quarter valued at about $122,000. Finally, Sageworth Trust Co boosted its position in The Coca-Cola by 69.5% in the third quarter. Sageworth Trust Co now owns 2,927 shares of the company’s stock valued at $135,000 after buying an additional 1,200 shares in the last quarter. Institutional investors and hedge funds own 65.45% of the company’s stock.
In related news, insider Brian John Smith sold 43,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 31st. The shares were sold at an average price of $48.00, for a total transaction of $2,064,000.00. Following the completion of the sale, the insider now directly owns 123,908 shares of the company’s stock, valued at $5,947,584. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP James L. Dinkins sold 8,754 shares of the business’s stock in a transaction that occurred on Wednesday, October 24th. The stock was sold at an average price of $46.95, for a total transaction of $411,000.30. Following the sale, the senior vice president now directly owns 28,354 shares of the company’s stock, valued at $1,331,220.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,754 shares of company stock valued at $2,954,800. 1.48% of the stock is currently owned by insiders.
KO opened at $48.00 on Monday. The company has a quick ratio of 0.98, a current ratio of 1.06 and a debt-to-equity ratio of 1.26. The company has a market cap of $204.76 billion, a P/E ratio of 23.42, a price-to-earnings-growth ratio of 3.14 and a beta of 0.60. The Coca-Cola Co has a fifty-two week low of $41.45 and a fifty-two week high of $48.62.
The Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, October 30th. The company reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.03. The business had revenue of $8.25 billion during the quarter, compared to the consensus estimate of $8.20 billion. The Coca-Cola had a net margin of 8.70% and a return on equity of 43.12%. The Coca-Cola’s revenue for the quarter was down 9.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.50 earnings per share. On average, equities research analysts anticipate that The Coca-Cola Co will post 2.08 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date of this dividend is Thursday, November 29th. The Coca-Cola’s dividend payout ratio (DPR) is 81.68%.
A number of research firms have commented on KO. HSBC set a $61.00 price target on shares of The Coca-Cola and gave the company a “buy” rating in a research report on Thursday, September 27th. Jefferies Financial Group set a $48.00 price target on shares of The Coca-Cola and gave the company a “neutral” rating in a research report on Thursday, September 6th. Morgan Stanley set a $49.00 price target on shares of The Coca-Cola and gave the company a “neutral” rating in a research report on Wednesday, September 26th. Guggenheim began coverage on shares of The Coca-Cola in a research report on Thursday, September 13th. They issued a “buy” rating and a $51.00 price target on the stock. Finally, Bank of America restated a “buy” rating and issued a $52.00 price target on shares of The Coca-Cola in a research report on Tuesday, October 30th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $51.22.
The Coca-Cola Company Profile
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides water, enhanced water, and sports drinks; juices; 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.
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