Community Trust & Investment Co. Buys 852 Shares of The Coca-Cola Company (NYSE:KO)

Community Trust & Investment Co. increased its stake in shares of The Coca-Cola Company (NYSE:KO) by 1.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 53,072 shares of the company’s stock after buying an additional 852 shares during the period. Community Trust & Investment Co.’s holdings in Coca-Cola were worth $3,304,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of KO. Apella Capital LLC grew its position in shares of Coca-Cola by 1.4% in the third quarter. Apella Capital LLC now owns 10,533 shares of the company’s stock valued at $748,000 after purchasing an additional 146 shares during the last quarter. Investment Advisory Group LLC boosted its stake in Coca-Cola by 4.5% in the 3rd quarter. Investment Advisory Group LLC now owns 3,378 shares of the company’s stock valued at $243,000 after purchasing an additional 146 shares during the period. CCG Wealth Management LLC grew its holdings in Coca-Cola by 4.3% in the 3rd quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock valued at $260,000 after buying an additional 149 shares in the last quarter. Investment Partners Asset Management Inc. increased its position in Coca-Cola by 2.2% during the 3rd quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock worth $500,000 after buying an additional 150 shares during the period. Finally, Chapin Davis Inc. lifted its holdings in shares of Coca-Cola by 1.0% during the third quarter. Chapin Davis Inc. now owns 15,312 shares of the company’s stock worth $1,100,000 after buying an additional 153 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Stock Performance

Coca-Cola stock opened at $61.98 on Wednesday. The stock has a market cap of $267.00 billion, a PE ratio of 25.61, a P/E/G ratio of 3.83 and a beta of 0.61. 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 Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. The business’s 50-day moving average price is $62.78 and its two-hundred day moving average price is $66.47.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.03. The company had revenue of $11.85 billion for 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 firm’s revenue was down .8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.74 EPS. As a group, analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date was Friday, November 29th. Coca-Cola’s payout ratio is 80.17%.

Insider Activity at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 342,546 shares in the company, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.97% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on KO shares. Truist Financial upped their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and boosted their price target for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. Piper Sandler started coverage on Coca-Cola in a research note on Tuesday, January 7th. They set an “overweight” rating and a $74.00 price objective on the stock. Finally, Wells Fargo & Company dropped their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average price target of $72.60.

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.