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

Bank & Trust Co trimmed its position in The Coca-Cola Company (NYSE:KO) by 1.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,727 shares of the company’s stock after selling 329 shares during the quarter. Coca-Cola comprises 1.1% of Bank & Trust Co’s investment portfolio, making the stock its 25th biggest position. Bank & Trust Co’s holdings in Coca-Cola were worth $1,341,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of KO. Crowley Wealth Management Inc. acquired a new position in shares of Coca-Cola in the 4th quarter worth approximately $27,000. Mainstream Capital Management LLC acquired a new position in shares of Coca-Cola in the 4th quarter worth approximately $31,000. REAP Financial Group LLC lifted its holdings in shares of Coca-Cola by 57.5% in the 4th quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock worth $35,000 after acquiring an additional 208 shares during the last quarter. Murphy & Mullick Capital Management Corp acquired a new position in shares of Coca-Cola in the 4th quarter worth approximately $38,000. Finally, Hoey Investments Inc. lifted its holdings in shares of Coca-Cola by 41.9% in the 4th quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock worth $38,000 after acquiring an additional 181 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on KO. JPMorgan Chase & Co. upped their price objective on shares of Coca-Cola from $74.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, April 21st. DZ Bank upgraded shares of 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. Wells Fargo & Company upped their target price on shares of Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Piper Sandler upped their target price on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Finally, Cfra Research raised shares of Coca-Cola to a “strong-buy” rating in a research note on Tuesday, April 15th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $75.81.

Coca-Cola Trading Down 0.2%

NYSE KO opened at $71.98 on Tuesday. The company has a market capitalization of $309.80 billion, a price-to-earnings ratio of 29.14, a price-to-earnings-growth ratio of 3.79 and a beta of 0.47. The firm’s fifty day moving average price is $71.39 and its 200 day moving average price is $67.39. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. The Coca-Cola Company has a 12 month low of $60.62 and a 12 month high of $74.38.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.02. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The company had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.23 billion. During the same period last year, the firm posted $0.72 EPS. Coca-Cola’s revenue for the quarter was down .7% on a year-over-year basis. On average, sell-side analysts expect that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date is Friday, June 13th. Coca-Cola’s dividend payout ratio is currently 81.60%.

Insiders Place Their Bets

In other news, insider Nikolaos Koumettis sold 55,500 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $71.01, for a total value of $3,941,055.00. Following the transaction, the insider now owns 246,909 shares of the company’s stock, valued at approximately $17,533,008.09. This trade represents a 18.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Beatriz R. Perez sold 60,326 shares of the firm’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the completion of the transaction, the executive vice president now directly owns 187,716 shares in the company, valued at approximately $13,491,148.92. This represents a 24.32% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 229,761 shares of company stock worth $16,474,587. Insiders own 0.97% of the company’s stock.

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.