Sanibel Captiva Trust Company Inc. Raises Holdings in The Coca-Cola Company (NYSE:KO)

Sanibel Captiva Trust Company Inc. grew its stake in The Coca-Cola Company (NYSE:KO) by 4.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 69,488 shares of the company’s stock after buying an additional 2,683 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in Coca-Cola were worth $4,326,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Massachusetts Financial Services Co. MA lifted its holdings in Coca-Cola by 9.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,653 shares of the company’s stock worth $233,000 after buying an additional 329 shares during the last quarter. Seven Eight Capital LP acquired a new position in Coca-Cola in the second quarter valued at approximately $995,000. Brighton Jones LLC increased its stake in Coca-Cola by 1.8% in the second quarter. Brighton Jones LLC now owns 36,109 shares of the company’s stock valued at $2,298,000 after purchasing an additional 631 shares during the last quarter. Ieq Capital LLC raised its holdings in Coca-Cola by 16.6% during the second quarter. Ieq Capital LLC now owns 169,651 shares of the company’s stock worth $10,798,000 after purchasing an additional 24,167 shares in the last quarter. Finally, Trust Investment Advisors purchased a new stake in shares of Coca-Cola during the 2nd quarter worth approximately $312,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Wells Fargo & Company reduced their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. UBS Group cut their target price on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a report on Thursday. Morgan Stanley decreased their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Finally, TD Cowen 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 report on Wednesday, January 8th. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average price target of $72.13.

Coca-Cola Stock Performance

NYSE:KO opened at $62.76 on Friday. The firm’s fifty day simple moving average is $62.71 and its 200-day simple moving average is $66.41. 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 stock has a market cap of $270.34 billion, a PE ratio of 25.93, a price-to-earnings-growth ratio of 3.35 and a beta of 0.61. 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 Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. The company had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The firm’s quarterly revenue was down .8% compared to the same quarter last year. During the same period last year, the company posted $0.74 earnings per share. Analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Insider Activity

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the sale, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company 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.