The Coca-Cola Company (NYSE:KO) Shares Sold by Thomasville National Bank

Thomasville National Bank lowered its position in shares of The Coca-Cola Company (NYSE:KO) by 1.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 124,920 shares of the company’s stock after selling 2,362 shares during the quarter. Thomasville National Bank’s holdings in Coca-Cola were worth $7,778,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Quarry LP acquired a new stake in shares of Coca-Cola in the second quarter valued at approximately $27,000. Hara Capital LLC acquired a new stake in shares of Coca-Cola in the third quarter valued at approximately $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Coca-Cola in the third quarter valued at approximately $36,000. MidAtlantic Capital Management Inc. purchased a new position in Coca-Cola in the third quarter worth approximately $43,000. Finally, ORG Wealth Partners LLC purchased a new position in Coca-Cola in the third quarter worth approximately $58,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Piper Sandler assumed coverage on Coca-Cola in a research report on Tuesday, January 7th. They issued an “overweight” rating and a $74.00 price objective for the company. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Truist Financial raised their price target on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and raised their price target for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Finally, Barclays decreased their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Coca-Cola presently has an average rating of “Moderate Buy” and an average target price of $72.60.

Coca-Cola Stock Performance

KO stock traded up $0.38 during trading on Monday, hitting $61.45. The company had a trading volume of 4,613,744 shares, compared to its average volume of 14,291,557. The firm has a market cap of $264.71 billion, a PE ratio of 25.39, 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. The firm has a 50-day moving average price of $62.91 and a 200-day moving average price of $66.50. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53.

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

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date was Friday, November 29th. Coca-Cola’s dividend payout ratio is presently 80.17%.

Insider Buying and Selling at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the business’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 transaction of $6,403,000.00. Following the sale, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $21,933,220.38. The trade was a 22.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.97% of the stock is owned by corporate insiders.

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.