The Coca-Cola Company (NYSE:KO) Shares Sold by Farmers Trust Co.

Farmers Trust Co. decreased its position in The Coca-Cola Company (NYSE:KO) by 1.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,872 shares of the company’s stock after selling 283 shares during the quarter. Farmers Trust Co.’s holdings in Coca-Cola were worth $1,356,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. New Millennium Group LLC acquired a new stake in shares of Coca-Cola during the second quarter valued at about $26,000. Quarry LP purchased a new position in Coca-Cola in the second quarter valued at about $27,000. Redmont Wealth Advisors LLC acquired a new stake in Coca-Cola during the 1st quarter valued at approximately $28,000. ESL Trust Services LLC acquired a new stake in Coca-Cola during the 1st quarter valued at approximately $28,000. Finally, DiNuzzo Private Wealth Inc. increased its holdings in Coca-Cola by 65.0% during the 1st quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock worth $32,000 after purchasing an additional 206 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Activity

In other news, insider Bruno Pietracci sold 38,653 shares of Coca-Cola stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $69.01, for a total transaction of $2,667,443.53. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO James Quincey sold 102,533 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total value of $7,179,360.66. Following the sale, the chief executive officer now directly owns 442,546 shares in the company, valued at approximately $30,987,070.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bruno Pietracci sold 38,653 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $69.01, for a total transaction of $2,667,443.53. The disclosure for this sale can be found here. Insiders sold 376,096 shares of company stock worth $25,982,352 over the last three months. Corporate insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

KO has been the subject of a number of recent analyst reports. BNP Paribas started coverage on shares of Coca-Cola in a research report on Monday, June 24th. They set an “outperform” rating and a $72.00 price target for the company. Cfra reissued a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Morgan Stanley boosted their target price on shares of Coca-Cola from $70.00 to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 27th. JPMorgan Chase & Co. increased their price target on shares of Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Finally, Truist Financial boosted their price objective on Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Five equities 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 stock. According to data from MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and an average target price of $71.07.

Coca-Cola Stock Performance

Shares of KO stock opened at $70.50 on Friday. The Coca-Cola Company has a 12-month low of $51.55 and a 12-month high of $73.53. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The firm has a market capitalization of $303.71 billion, a price-to-earnings ratio of 28.20, a price-to-earnings-growth ratio of 3.97 and a beta of 0.60. The business has a 50 day simple moving average of $70.29 and a 200 day simple moving average of $65.02.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. The company had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the company earned $0.78 earnings per share. On average, equities research analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date was Friday, September 13th. Coca-Cola’s dividend payout ratio is currently 77.60%.

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.