The Coca-Cola Company (NYSE:KO) Holdings Lifted by Camden National Bank

Camden National Bank increased its position in shares of The Coca-Cola Company (NYSE:KO) by 4.7% during the third quarter, Holdings Channel.com reports. The fund owned 6,158 shares of the company’s stock after acquiring an additional 275 shares during the quarter. Camden National Bank’s holdings in Coca-Cola were worth $443,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of KO. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Coca-Cola in the 3rd quarter worth about $269,382,000. Manning & Napier Advisors LLC acquired a new position in shares of Coca-Cola in the second quarter worth about $188,448,000. Pathway Financial Advisers LLC increased its position in shares of Coca-Cola by 7,006.8% in the third quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company’s stock worth $178,104,000 after acquiring an additional 2,443,612 shares in the last quarter. Raymond James & Associates increased its position in shares of Coca-Cola by 42.6% in the second quarter. Raymond James & Associates now owns 6,245,331 shares of the company’s stock worth $397,515,000 after acquiring an additional 1,866,348 shares in the last quarter. Finally, International Assets Investment Management LLC raised its holdings in shares of Coca-Cola by 7,792.8% during the third quarter. International Assets Investment Management LLC now owns 1,744,302 shares of the company’s stock valued at $125,346,000 after acquiring an additional 1,722,202 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO James Quincey sold 42,397 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $70.02, for a total value of $2,968,637.94. Following the sale, the chief executive officer now owns 442,546 shares in the company, valued at approximately $30,987,070.92. This trade represents a 8.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Nancy Quan sold 18,484 shares of the stock in a transaction on 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 sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. This trade represents a 7.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 160,881 shares of company stock valued at $10,693,244. 0.97% of the stock is owned by insiders.

Coca-Cola Stock Up 0.2 %

Shares of KO stock opened at $63.92 on Friday. The stock’s 50 day simple moving average is $67.79 and its 200 day simple moving average is $66.51. The Coca-Cola Company has a twelve month low of $57.47 and a twelve month high of $73.53. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The company has a market capitalization of $275.33 billion, a price-to-earnings ratio of 26.41, a PEG ratio of 3.87 and a beta of 0.61.

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

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is 80.17%.

Wall Street Analysts Forecast Growth

KO has been the topic of several research analyst reports. Barclays lowered their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Cfra reissued a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Truist Financial lifted their target price on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company increased their price target on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus price target of $72.36.

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.