US Bancorp DE Sells 57,272 Shares of The Coca-Cola Company (NYSE:KO)

US Bancorp DE cut its holdings in shares of The Coca-Cola Company (NYSE:KO) by 1.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,415,295 shares of the company’s stock after selling 57,272 shares during the period. US Bancorp DE owned 0.10% of Coca-Cola worth $317,283,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of KO. Price T Rowe Associates Inc. MD grew its position in shares of Coca-Cola by 21.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock worth $3,016,023,000 after buying an additional 8,733,326 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Coca-Cola by 30.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,698,984 shares of the company’s stock worth $776,924,000 after purchasing an additional 2,964,850 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of Coca-Cola during the second quarter worth $188,448,000. M&G Plc purchased a new stake in shares of Coca-Cola during the 1st quarter valued at $157,087,000. Finally, Pathway Financial Advisers LLC boosted its position in shares of Coca-Cola by 7,006.8% in the 3rd 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 in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

KO has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price target on Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. TD Cowen lifted their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Royal Bank of Canada upped their target price on Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Finally, Barclays lowered their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.80.

Coca-Cola Stock Performance

NYSE KO traded down $0.35 during mid-day trading on Thursday, reaching $65.57. 1,912,128 shares of the stock were exchanged, compared to its average volume of 13,207,437. The company has a market capitalization of $282.46 billion, a P/E ratio of 27.12, a P/E/G ratio of 3.91 and a beta of 0.60. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08. The business’s 50 day moving average is $70.47 and its 200-day moving average is $66.22. The Coca-Cola Company has a 1 year low of $56.06 and a 1 year high of $73.53.

Coca-Cola (NYSE:KO) last posted its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.03. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The business had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. During the same period in the prior year, the company posted $0.74 EPS. The company’s revenue for the quarter was down .8% on a year-over-year basis. On average, equities research analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

Insider Transactions at Coca-Cola

In related news, EVP Lisa Chang sold 58,122 shares of Coca-Cola stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $68.51, for a total value of $3,981,938.22. Following the sale, the executive vice president now owns 74,067 shares of the company’s stock, valued at approximately $5,074,330.17. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Nancy Quan sold 18,482 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $68.95, for a total value of $1,274,333.90. Following the transaction, the executive vice president now owns 223,330 shares in the company, valued at $15,398,603.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Lisa Chang sold 58,122 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $68.51, for a total value of $3,981,938.22. Following the sale, the executive vice president now owns 74,067 shares of the company’s stock, valued at $5,074,330.17. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 319,005 shares of company stock valued at $22,198,147 in the last three months. 0.97% of the stock is currently owned by company insiders.

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.