First Bancorp Inc ME Purchases 1,677 Shares of The Coca-Cola Company (NYSE:KO)

First Bancorp Inc ME grew its position in The Coca-Cola Company (NYSE:KO) by 23.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,801 shares of the company’s stock after purchasing an additional 1,677 shares during the period. First Bancorp Inc ME’s holdings in Coca-Cola were worth $632,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Park Avenue Securities LLC lifted its stake in Coca-Cola by 2.6% in the first quarter. Park Avenue Securities LLC now owns 80,125 shares of the company’s stock valued at $4,902,000 after buying an additional 2,005 shares in the last quarter. BTC Capital Management Inc. acquired a new position in Coca-Cola in the 1st quarter worth $269,000. RFG Advisory LLC increased its holdings in Coca-Cola by 1.9% during the 1st quarter. RFG Advisory LLC now owns 70,872 shares of the company’s stock worth $4,336,000 after purchasing an additional 1,329 shares in the last quarter. First Affirmative Financial Network increased its holdings in Coca-Cola by 6.1% during the 1st quarter. First Affirmative Financial Network now owns 4,801 shares of the company’s stock worth $294,000 after purchasing an additional 275 shares in the last quarter. Finally, Optimum Investment Advisors raised its stake in shares of Coca-Cola by 14.1% in the 1st quarter. Optimum Investment Advisors now owns 1,469 shares of the company’s stock valued at $90,000 after purchasing an additional 181 shares during the period. 70.26% of the stock is owned by institutional investors.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total value of $7,179,360.66. Following the completion of the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $30,987,070.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO James Quincey sold 102,533 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the sale, the chief executive officer now directly owns 442,546 shares in the company, valued at approximately $30,987,070.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,968,095. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 356,792 shares of company stock valued at $24,728,364 in the last ninety days. 0.97% of the stock is currently owned by corporate insiders.

Coca-Cola Stock Performance

Shares of KO traded up $0.54 during trading hours on Friday, hitting $70.44. The company had a trading volume of 15,087,519 shares, compared to its average volume of 13,165,565. The business has a fifty day moving average of $70.70 and a 200-day moving average of $65.72. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The firm has a market cap of $303.45 billion, a price-to-earnings ratio of 28.18, a PEG ratio of 3.92 and a beta of 0.60. The Coca-Cola Company has a 12 month low of $53.86 and a 12 month high of $73.53.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.03. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The firm had revenue of $12.40 billion for the quarter, compared to analysts’ expectations of $11.78 billion. During the same period in the prior year, the firm earned $0.78 EPS. The business’s revenue was up 3.3% on a year-over-year basis. Equities analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $0.485 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 2.75%. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. TD Cowen increased their price objective on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Truist Financial boosted 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. Royal Bank of Canada increased their target price on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Bank of America lifted their price target on shares of Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Finally, BNP Paribas initiated coverage on shares of Coca-Cola in a research note on Monday, June 24th. They set an “outperform” rating and a $72.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $72.00.

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.