Providence First Trust Co Sells 200 Shares of The Coca-Cola Company (NYSE:KO)

Providence First Trust Co lowered its holdings in shares of The Coca-Cola Company (NYSE:KO) by 1.1% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 18,180 shares of the company’s stock after selling 200 shares during the period. Providence First Trust Co’s holdings in Coca-Cola were worth $1,132,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Harvest Portfolios Group Inc. bought a new position in shares of Coca-Cola during the 3rd quarter worth approximately $18,383,000. Balentine LLC lifted its holdings in Coca-Cola by 92.4% during the 3rd quarter. Balentine LLC now owns 28,493 shares of the company’s stock valued at $2,048,000 after purchasing an additional 13,685 shares during the last quarter. Rice Partnership LLC boosted its position in Coca-Cola by 7.1% during the fourth quarter. Rice Partnership LLC now owns 102,746 shares of the company’s stock worth $6,397,000 after purchasing an additional 6,793 shares during the period. Sheaff Brock Investment Advisors LLC raised its position in shares of Coca-Cola by 104.9% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock valued at $8,351,000 after purchasing an additional 59,503 shares during the period. Finally, Fiduciary Alliance LLC lifted its stake in shares of Coca-Cola by 87.7% during the 4th quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock worth $1,132,000 after buying an additional 8,499 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $69.00 price target on shares of Coca-Cola in a research note on Thursday, February 6th. UBS Group upped their target price on Coca-Cola from $72.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and lifted their price target for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. DZ Bank raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Thursday, February 13th. Finally, Piper Sandler lifted their target price on Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.24.

Insider Transactions at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 145,435 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $71.01, for a total value of $10,327,339.35. Following the completion of the transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $24,324,191.46. This represents a 29.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Bruno Pietracci sold 19,058 shares of Coca-Cola stock in a transaction on Monday, February 24th. The stock was sold at an average price of $70.56, for a total transaction of $1,344,732.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 232,646 shares of company stock worth $16,515,469. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Trading Up 0.5 %

Shares of KO stock opened at $71.20 on Friday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53. The company has a market cap of $306.22 billion, a PE ratio of 28.82, a P/E/G ratio of 3.79 and a beta of 0.61. The stock’s fifty day moving average price is $64.53 and its two-hundred day moving average price is $66.53.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. Equities analysts predict that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s payout ratio is presently 82.59%.

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.