The Coca-Cola Company (NYSE:KO) Shares Sold by Tompkins Financial Corp

Tompkins Financial Corp trimmed its holdings in shares of The Coca-Cola Company (NYSE:KO) by 30.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,860 shares of the company’s stock after selling 12,434 shares during the period. Tompkins Financial Corp’s holdings in Coca-Cola were worth $2,074,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in KO. Price T Rowe Associates Inc. MD grew its position in Coca-Cola by 21.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock worth $3,016,023,000 after purchasing an additional 8,733,326 shares during the period. Legal & General Group Plc grew its holdings in Coca-Cola by 2.9% during the second quarter. Legal & General Group Plc now owns 38,701,876 shares of the company’s stock worth $2,463,373,000 after acquiring an additional 1,084,475 shares during the period. Truist Financial Corp raised its position in Coca-Cola by 1.1% during the second quarter. Truist Financial Corp now owns 16,362,598 shares of the company’s stock valued at $1,041,479,000 after acquiring an additional 177,241 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Coca-Cola by 30.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,698,984 shares of the company’s stock valued at $776,924,000 after acquiring an additional 2,964,850 shares during the period. Finally, Canada Pension Plan Investment Board boosted its position in Coca-Cola by 15.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 10,433,875 shares of the company’s stock worth $638,344,000 after purchasing an additional 1,417,930 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Wells Fargo & Company increased their price target on Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Morgan Stanley cut their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Finally, StockNews.com cut shares of Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $71.80.

Coca-Cola Price Performance

NYSE KO traded up $0.26 during trading hours on Friday, hitting $63.92. 14,719,308 shares of the company’s stock traded hands, compared to its average volume of 13,338,074. The company has a market capitalization of $275.35 billion, a PE ratio of 26.43, a PEG ratio of 3.87 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The Coca-Cola Company has a 52-week low of $56.06 and a 52-week high of $73.53. The firm’s 50-day moving average is $69.56 and its 200-day moving average is $66.44.

Coca-Cola (NYSE:KO) last issued its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The business had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The company’s revenue for the quarter was down .8% on a year-over-year basis. During the same period last year, the company earned $0.74 EPS. Equities analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current fiscal 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 issued 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 3.04%. Coca-Cola’s payout ratio is 80.17%.

Insider Transactions at Coca-Cola

In related news, CEO James Quincey sold 102,533 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total value of $7,179,360.66. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO James Quincey sold 102,533 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction on 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 transaction, the executive vice president now owns 223,330 shares in the company, valued at $15,968,095. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 203,748 shares of company stock worth $14,274,431 in the last 90 days. Insiders own 0.97% of the company’s stock.

About Coca-Cola

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.