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

Smithfield Trust Co lowered its stake in shares of The Coca-Cola Company (NYSE:KO) by 4.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,040 shares of the company’s stock after selling 965 shares during the quarter. Smithfield Trust Co’s holdings in Coca-Cola were worth $1,186,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Harvest Portfolios Group Inc. bought a new position in shares of Coca-Cola during the third quarter worth about $18,383,000. Balentine LLC boosted its stake in Coca-Cola by 92.4% during the 3rd quarter. Balentine LLC now owns 28,493 shares of the company’s stock valued at $2,048,000 after purchasing an additional 13,685 shares during the period. Rice Partnership LLC grew its position in Coca-Cola by 7.1% in the 4th quarter. Rice Partnership LLC now owns 102,746 shares of the company’s stock worth $6,397,000 after purchasing an additional 6,793 shares during the last quarter. Sheaff Brock Investment Advisors LLC increased its stake in shares of Coca-Cola by 104.9% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock valued at $8,351,000 after purchasing an additional 59,503 shares during the period. Finally, Fiduciary Alliance LLC raised its holdings in shares of Coca-Cola by 87.7% during the fourth quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock valued at $1,132,000 after buying an additional 8,499 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Trading Down 3.1 %

Shares of NYSE:KO opened at $70.08 on Wednesday. The firm has a fifty day moving average of $64.87 and a two-hundred day moving average of $66.53. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. The firm has a market capitalization of $301.40 billion, a P/E ratio of 28.37, a price-to-earnings-growth ratio of 3.79 and a beta of 0.61.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, beating 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, equities analysts expect that The Coca-Cola Company will post 2.96 EPS 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. Investors of record on Friday, March 14th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio (DPR) is presently 82.59%.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 145,435 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at $24,324,191.46. This trade represents a 29.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nikolaos Koumettis sold 54,708 shares of the company’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $70.96, for a total value of $3,882,079.68. Following the sale, the insider now owns 246,909 shares of the company’s stock, valued at approximately $17,520,662.64. This trade represents a 18.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 232,646 shares of company stock worth $16,515,469 over the last ninety days. 0.97% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

KO has been the subject of a number of recent analyst reports. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and increased their price target for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. DZ Bank upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research note on Thursday, February 13th. Piper Sandler increased their target price on shares of Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Finally, Wells Fargo & Company boosted their price target on shares of Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Two investment 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $74.24.

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.