Montecito Bank & Trust Cuts Position in The Coca-Cola Company (NYSE:KO)

Montecito Bank & Trust lowered its position in shares of The Coca-Cola Company (NYSE:KOFree Report) by 2.4% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 107,924 shares of the company’s stock after selling 2,647 shares during the quarter. Coca-Cola comprises approximately 1.3% of Montecito Bank & Trust’s holdings, making the stock its 19th largest holding. Montecito Bank & Trust’s holdings in Coca-Cola were worth $7,755,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of KO. New Millennium Group LLC purchased a new stake in shares of Coca-Cola in the second quarter worth about $26,000. Quarry LP purchased a new position in Coca-Cola in the 2nd quarter worth approximately $27,000. ESL Trust Services LLC purchased a new position in Coca-Cola in the 1st quarter worth approximately $28,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Coca-Cola in the third quarter valued at approximately $36,000. Finally, Mount Lucas Management LP purchased a new stake in shares of Coca-Cola during the second quarter valued at approximately $38,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Transactions at Coca-Cola

In related news, CEO James Quincey sold 102,533 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was 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 $30,987,070.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Lisa Chang sold 40,334 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $69.54, for a total value of $2,804,826.36. Following the completion of the sale, the executive vice president now owns 74,067 shares of the company’s stock, valued at $5,150,619.18. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO James Quincey sold 102,533 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the transaction, the chief executive officer now directly owns 442,546 shares in the company, valued at approximately $30,987,070.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 203,748 shares of company stock worth $14,274,431. Company insiders own 0.97% of the company’s stock.

Coca-Cola Trading Down 2.6 %

Shares of NYSE KO opened at $63.68 on Thursday. The Coca-Cola Company has a 12-month low of $56.06 and a 12-month high of $73.53. The company has a market cap of $274.30 billion, a price-to-earnings ratio of 26.31, a price-to-earnings-growth ratio of 3.96 and a beta of 0.61. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The stock’s 50 day simple moving average is $69.90 and its 200 day simple moving average is $66.43.

Coca-Cola (NYSE:KOGet Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.74 by $0.03. The business had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The company’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.74 earnings per share. Equities research analysts expect that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The firm 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 is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.05%. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. StockNews.com lowered shares of Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Wells Fargo & Company increased their price target on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Truist Financial lifted 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. Bank of America increased their target price on Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Finally, Royal Bank of Canada lifted their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus target price of $71.80.

Read Our Latest Stock Analysis on KO

About Coca-Cola

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding KO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Coca-Cola Company (NYSE:KOFree Report).

Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

Receive News & Ratings for Coca-Cola Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coca-Cola and related companies with MarketBeat.com's FREE daily email newsletter.