Cetera Trust Company N.A Decreases Stock Holdings in The Coca-Cola Company (NYSE:KO)

Cetera Trust Company N.A cut its position in The Coca-Cola Company (NYSE:KO) by 3.3% in the third quarter, HoldingsChannel.com reports. The firm owned 29,391 shares of the company’s stock after selling 995 shares during the period. Coca-Cola accounts for approximately 1.3% of Cetera Trust Company N.A’s investment portfolio, making the stock its 25th biggest holding. Cetera Trust Company N.A’s holdings in Coca-Cola were worth $2,112,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. New Millennium Group LLC acquired a new position in Coca-Cola during the 2nd quarter valued at about $26,000. Quarry LP acquired a new stake in Coca-Cola in the 2nd quarter worth approximately $27,000. Redmont Wealth Advisors LLC acquired a new position in Coca-Cola during the 1st quarter valued at approximately $28,000. ESL Trust Services LLC purchased a new position in shares of Coca-Cola in the first quarter worth $28,000. Finally, DiNuzzo Private Wealth Inc. grew its holdings in shares of Coca-Cola by 65.0% during the first quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock valued at $32,000 after buying an additional 206 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Bruno Pietracci sold 38,653 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $69.01, for a total value of $2,667,443.53. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Bruno Pietracci sold 38,653 shares of the business’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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Nancy Quan sold 18,482 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $68.95, for a total value of $1,274,333.90. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at $15,398,603.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 356,792 shares of company stock worth $24,728,364. Company insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

KO has been the topic of several research analyst reports. Morgan Stanley boosted their price target on Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a research note on Tuesday, August 27th. StockNews.com downgraded shares of Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. TD Cowen increased 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. Finally, BNP Paribas began coverage on shares of Coca-Cola in a report on Monday, June 24th. They set an “outperform” rating and a $72.00 target price for the company. Five research 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $72.00.

Coca-Cola Price Performance

Shares of Coca-Cola stock traded up $0.23 on Tuesday, hitting $69.68. The company’s stock had a trading volume of 4,769,163 shares, compared to its average volume of 13,118,606. The company has a market capitalization of $300.18 billion, a price-to-earnings ratio of 27.73, a price-to-earnings-growth ratio of 3.92 and a beta of 0.60. The Coca-Cola Company has a 1 year low of $54.04 and a 1 year high of $73.53. 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 firm has a fifty day moving average price of $70.73 and a 200-day moving average price of $65.87.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The business had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.78 billion. During the same period in the previous year, the business earned $0.78 earnings per share. The business’s revenue was up 3.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 2.78%. The ex-dividend date is Friday, November 29th. Coca-Cola’s payout ratio is presently 77.60%.

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.