Glenmede Trust Co. NA Has $81.54 Million Stock Holdings in The Coca-Cola Company (NYSE:KO)

Glenmede Trust Co. NA lowered its position in shares of The Coca-Cola Company (NYSE:KO) by 4.0% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,134,683 shares of the company’s stock after selling 47,393 shares during the quarter. Glenmede Trust Co. NA’s holdings in Coca-Cola were worth $81,538,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of KO. FMR LLC increased its holdings in shares of Coca-Cola by 13.7% during the third quarter. FMR LLC now owns 92,961,376 shares of the company’s stock worth $6,680,205,000 after purchasing an additional 11,206,995 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Coca-Cola during the 3rd quarter worth $269,382,000. Manning & Napier Advisors LLC acquired a new stake in shares of Coca-Cola during the 2nd quarter worth $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 purchasing an additional 2,443,612 shares during the period. Finally, Fisher Asset Management LLC raised its stake in Coca-Cola by 39.7% in the third quarter. Fisher Asset Management LLC now owns 6,765,669 shares of the company’s stock valued at $486,181,000 after purchasing an additional 1,921,241 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on KO. Morgan Stanley reduced their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Barclays dropped their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Wells Fargo & Company upped their price objective on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Truist Financial increased their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, Cfra restated a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $72.36.

Insider Activity at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were 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 directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.97% of the stock is owned by company insiders.

Coca-Cola Stock Performance

NYSE KO opened at $64.58 on Wednesday. The Coca-Cola Company has a 1 year low of $57.47 and a 1 year high of $73.53. The firm has a market cap of $278.20 billion, a price-to-earnings ratio of 26.69, a PEG ratio of 3.91 and a beta of 0.61. The company has a fifty day moving average price of $67.49 and a 200-day moving average price of $66.59. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90.

Coca-Cola (NYSE:KO) last released its 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 company had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. Coca-Cola’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the prior year, the company posted $0.74 earnings per share. As a group, equities research analysts predict that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio is currently 80.17%.

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.