Smithfield Trust Co Lowers Stake in The Coca-Cola Company (NYSE:KO)

Smithfield Trust Co trimmed its holdings in shares of The Coca-Cola Company (NYSE:KO) by 0.9% during the 3rd quarter, Holdings Channel reports. The fund owned 20,005 shares of the company’s stock after selling 176 shares during the period. Smithfield Trust Co’s holdings in Coca-Cola were worth $1,436,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KO. EP Wealth Advisors LLC grew its stake in Coca-Cola by 3.9% in the 1st quarter. EP Wealth Advisors LLC now owns 96,155 shares of the company’s stock valued at $5,883,000 after acquiring an additional 3,616 shares during the period. Capital Research Global Investors raised its holdings in shares of Coca-Cola by 3.7% during the 1st quarter. Capital Research Global Investors now owns 3,936,003 shares of the company’s stock worth $240,805,000 after acquiring an additional 139,541 shares during the period. Canada Pension Plan Investment Board raised its holdings in Coca-Cola by 15.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 10,433,875 shares of the company’s stock valued at $638,344,000 after buying an additional 1,417,930 shares during the period. Stonebridge Capital Advisors LLC raised its holdings in Coca-Cola by 4.1% in the 1st quarter. Stonebridge Capital Advisors LLC now owns 275,473 shares of the company’s stock valued at $16,853,000 after buying an additional 10,937 shares during the period. Finally, Truvestments Capital LLC grew its position in Coca-Cola by 365.5% in the 1st quarter. Truvestments Capital LLC now owns 38,793 shares of the company’s stock valued at $2,373,000 after acquiring an additional 30,459 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Insider Transactions at Coca-Cola

In other news, CEO James Quincey sold 42,397 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $70.02, for a total transaction of $2,968,637.94. Following the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $30,987,070.92. This represents a 8.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Nancy Quan sold 18,484 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at $15,968,095. This trade represents a 7.64 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 160,881 shares of company stock worth $10,693,244. Corporate insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

KO has been the subject of several research reports. TD Cowen lifted their target price on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft boosted their price objective on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Morgan Stanley reduced their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Citigroup upped their price target on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, Truist Financial upped their price objective on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $72.36.

Coca-Cola Stock Up 0.6 %

NYSE:KO opened at $62.99 on Thursday. The stock’s fifty day simple moving average is $68.09 and its 200-day simple moving average is $66.52. 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 firm has a market capitalization of $271.35 billion, a P/E ratio of 26.04, a P/E/G ratio of 3.80 and a beta of 0.61. The Coca-Cola Company has a 12-month low of $57.33 and a 12-month high of $73.53.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (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 company had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. During the same quarter in the previous year, the company posted $0.74 earnings per share. The business’s revenue was down .8% on a year-over-year basis. Equities research analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 annualized dividend and a dividend yield of 3.08%. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

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.