Bank & Trust Co Has $1.19 Million Stock Holdings in The Coca-Cola Company (NYSE:KO)

Bank & Trust Co cut its holdings in shares of The Coca-Cola Company (NYSE:KO) by 0.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 19,056 shares of the company’s stock after selling 167 shares during the quarter. Coca-Cola accounts for about 1.0% of Bank & Trust Co’s portfolio, making the stock its 29th biggest holding. Bank & Trust Co’s holdings in Coca-Cola were worth $1,186,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of KO. Canandaigua National Trust Co of Florida increased its position in Coca-Cola by 34.5% during the fourth quarter. Canandaigua National Trust Co of Florida now owns 6,244 shares of the company’s stock worth $389,000 after acquiring an additional 1,600 shares during the period. Capital Market Strategies LLC acquired a new position in shares of Coca-Cola during the fourth quarter valued at about $202,000. Neville Rodie & Shaw Inc. lifted its stake in shares of Coca-Cola by 12.7% in the fourth quarter. Neville Rodie & Shaw Inc. now owns 60,035 shares of the company’s stock valued at $3,738,000 after buying an additional 6,760 shares during the period. Burkett Financial Services LLC increased its stake in Coca-Cola by 4.1% during the fourth quarter. Burkett Financial Services LLC now owns 5,572 shares of the company’s stock valued at $347,000 after acquiring an additional 221 shares during the period. Finally, CWA Asset Management Group LLC raised its holdings in Coca-Cola by 16.2% in the 4th quarter. CWA Asset Management Group LLC now owns 19,407 shares of the company’s stock valued at $1,208,000 after acquiring an additional 2,706 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the transaction, the chief executive officer now owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.97% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Piper Sandler started coverage on Coca-Cola in a report on Tuesday. They set an “overweight” rating and a $74.00 price objective on the stock. Morgan Stanley decreased their target price 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 shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Truist Financial upped their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company cut their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $72.27.

Coca-Cola Trading Up 0.3 %

NYSE:KO traded up $0.18 during trading hours on Tuesday, hitting $60.99. 5,700,265 shares of the stock were exchanged, compared to its average volume of 11,616,638. The company has a market capitalization of $262.73 billion, a P/E ratio of 25.20, a price-to-earnings-growth ratio of 3.83 and a beta of 0.61. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The company’s 50 day moving average is $63.25 and its two-hundred day moving average is $66.57.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The firm had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. During the same period last year, the company earned $0.74 earnings per share. The company’s revenue was down .8% on a year-over-year basis. On average, sell-side analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were paid a dividend of $0.485 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.18%. Coca-Cola’s dividend payout ratio (DPR) is presently 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.