Community Bank N.A. Sells 2,070 Shares of The Coca-Cola Company (NYSE:KO)

Community Bank N.A. lessened its position in shares of The Coca-Cola Company (NYSE:KO) by 2.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 100,987 shares of the company’s stock after selling 2,070 shares during the quarter. Coca-Cola accounts for about 0.9% of Community Bank N.A.’s investment portfolio, making the stock its 23rd largest holding. Community Bank N.A.’s holdings in Coca-Cola were worth $7,257,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in KO. New Millennium Group LLC bought a new stake in shares of Coca-Cola during the 2nd quarter valued at $26,000. Quarry LP bought a new stake in Coca-Cola in the second quarter valued at about $27,000. Hara Capital LLC acquired a new position in Coca-Cola in the third quarter valued at about $35,000. E Fund Management Hong Kong Co. Ltd. bought a new position in Coca-Cola during the third quarter worth about $36,000. Finally, Mount Lucas Management LP acquired a new position in shares of Coca-Cola during the 2nd quarter worth about $38,000. Institutional investors own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on KO. Cfra reiterated a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Morgan Stanley dropped their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Barclays decreased their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Finally, Wells Fargo & Company lifted their price objective on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average target price of $72.36.

Insiders Place Their Bets

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the transaction, the chief executive officer now owns 342,546 shares in the company, valued at $21,933,220.38. This represents a 22.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.97% of the company’s stock.

Coca-Cola Stock Down 0.5 %

KO stock opened at $64.08 on Monday. The Coca-Cola Company has a 1-year low of $57.47 and a 1-year high of $73.53. The firm has a market capitalization of $276.04 billion, a PE ratio of 26.48, a PEG ratio of 3.89 and a beta of 0.61. The business’s 50 day simple moving average is $67.07 and its 200 day simple moving average is $66.61. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

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 the consensus estimate of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The firm had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. During the same period last year, the business posted $0.74 earnings per share. The business’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, research analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio is 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.