The Coca-Cola Company (NYSE:KO) Shares Sold by Community Trust & Investment Co.

Community Trust & Investment Co. reduced its position in shares of The Coca-Cola Company (NYSE:KO) by 1.1% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 52,220 shares of the company’s stock after selling 556 shares during the period. Community Trust & Investment Co.’s holdings in Coca-Cola were worth $3,753,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. New Millennium Group LLC purchased a new stake in shares of Coca-Cola during the second quarter worth approximately $26,000. Quarry LP acquired a new stake in Coca-Cola during the 2nd quarter worth $27,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Coca-Cola during the first quarter worth $28,000. ESL Trust Services LLC acquired a new stake in shares of Coca-Cola in the first quarter valued at about $28,000. Finally, DiNuzzo Private Wealth Inc. lifted its stake in shares of Coca-Cola by 65.0% in the first quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock worth $32,000 after buying an additional 206 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insiders Place Their Bets

In other news, insider Bruno Pietracci sold 38,653 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total value of $2,667,443.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $15,968,095. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Bruno Pietracci sold 38,653 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $69.01, for a total value of $2,667,443.53. The disclosure for this sale can be found here. Insiders have sold 356,792 shares of company stock worth $24,728,364 over the last three months. Company insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

NYSE:KO opened at $69.45 on Wednesday. The stock has a market capitalization of $299.19 billion, a P/E ratio of 27.78, a PEG ratio of 3.92 and a beta of 0.60. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08. The Coca-Cola Company has a fifty-two week low of $54.04 and a fifty-two week high of $73.53. The company has a 50 day moving average price of $70.75 and a 200 day moving average price of $65.94.

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

Coca-Cola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 2.79%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio is currently 77.60%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on KO shares. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Bank of America upped their price target on Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Truist Financial increased their price target on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Morgan Stanley boosted their price objective on Coca-Cola from $70.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 27th. Finally, Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $72.00.

Coca-Cola 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.