Hancock Whitney Corp Trims Stock Position in The Coca-Cola Company (NYSE:KO)

Hancock Whitney Corp decreased its position in The Coca-Cola Company (NYSE:KO) by 1.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 43,309 shares of the company’s stock after selling 667 shares during the period. Hancock Whitney Corp’s holdings in Coca-Cola were worth $3,112,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of KO. New Millennium Group LLC bought a new position in shares of Coca-Cola during the 2nd quarter worth $26,000. Quarry LP bought a new position in Coca-Cola during the 2nd quarter worth about $27,000. Hara Capital LLC purchased a new position in Coca-Cola during the 3rd quarter valued at about $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Coca-Cola in the 3rd quarter valued at about $36,000. Finally, Mount Lucas Management LP purchased a new stake in shares of Coca-Cola in the 2nd quarter worth approximately $38,000. Institutional investors own 70.26% of the company’s stock.

Insiders Place Their Bets

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the stock in a transaction dated Friday, November 8th. The stock was 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 of the company’s stock, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.97% of the stock is currently owned by insiders.

Coca-Cola Trading Up 0.7 %

NYSE KO opened at $64.38 on Tuesday. The Coca-Cola Company has a 12-month low of $57.47 and a 12-month high of $73.53. The company has a fifty day simple moving average of $67.63 and a two-hundred day simple moving average of $66.58. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The stock has a market cap of $277.34 billion, a P/E ratio of 26.60, a P/E/G ratio of 3.88 and a beta of 0.61.

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 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%. The firm’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter last year, the business posted $0.74 EPS. On average, analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a $0.485 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a yield of 3.01%. Coca-Cola’s dividend payout ratio is currently 80.17%.

Wall Street Analysts Forecast Growth

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

Coca-Cola Company 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.