NBT Bank N A NY Has $5.76 Million Holdings in The Coca-Cola Company (NYSE:KO)

NBT Bank N A NY trimmed its position in The Coca-Cola Company (NYSE:KO) by 0.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 92,568 shares of the company’s stock after selling 816 shares during the period. NBT Bank N A NY’s holdings in Coca-Cola were worth $5,763,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of KO. Howard Capital Management Group LLC boosted its position in Coca-Cola by 0.5% during the 3rd quarter. Howard Capital Management Group LLC now owns 399,607 shares of the company’s stock worth $28,716,000 after buying an additional 2,069 shares during the period. CWA Asset Management Group LLC bought a new position in shares of Coca-Cola during the third quarter valued at $1,200,000. United Bank lifted its holdings in shares of Coca-Cola by 65.4% during the third quarter. United Bank now owns 80,888 shares of the company’s stock worth $5,813,000 after purchasing an additional 31,979 shares during the period. Rovin Capital UT ADV bought a new stake in shares of Coca-Cola in the third quarter worth $237,000. Finally, Assetmark Inc. increased its holdings in Coca-Cola by 7.0% in the third quarter. Assetmark Inc. now owns 109,065 shares of the company’s stock valued at $7,837,000 after purchasing an additional 7,099 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Stock Up 1.5 %

KO stock opened at $71.52 on Monday. The stock’s 50 day simple moving average is $65.36 and its 200 day simple moving average is $66.56. The company has a market cap of $307.60 billion, a P/E ratio of 28.96, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57. 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.

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

Coca-Cola Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.51 per share. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date is Friday, March 14th. Coca-Cola’s dividend payout ratio (DPR) is currently 82.59%.

Analysts Set New Price Targets

Several research analysts have commented on the company. Wells Fargo & Company lifted their target price on Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Wednesday, January 8th. DZ Bank raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Thursday, February 13th. Piper Sandler boosted their price target on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $69.00 price objective on shares of Coca-Cola in a research report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Coca-Cola has an average rating of “Moderate Buy” and a consensus price target of $74.24.

Insider Buying and Selling

In related news, CEO James Quincey sold 145,435 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total transaction of $10,327,339.35. Following the completion of the sale, the chief executive officer now owns 342,546 shares in the company, valued at approximately $24,324,191.46. This represents a 29.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Nikolaos Koumettis sold 54,708 shares of the firm’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $70.96, for a total value of $3,882,079.68. Following the transaction, the insider now owns 246,909 shares in the company, valued at approximately $17,520,662.64. This trade represents a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 232,646 shares of company stock worth $16,515,469 in the last quarter. Insiders own 0.97% of the company’s stock.

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.