Private Trust Co. NA Sells 3,598 Shares of The Coca-Cola Company (NYSE:KO)

Private Trust Co. NA cut its position in shares of The Coca-Cola Company (NYSE:KO) by 9.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,375 shares of the company’s stock after selling 3,598 shares during the quarter. Private Trust Co. NA’s holdings in Coca-Cola were worth $2,202,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Fort Sheridan Advisors LLC boosted its position in shares of Coca-Cola by 3.3% during the fourth quarter. Fort Sheridan Advisors LLC now owns 4,993 shares of the company’s stock valued at $311,000 after purchasing an additional 161 shares in the last quarter. Wells Trecaso Financial Group LLC raised its stake in Coca-Cola by 4.8% during the fourth quarter. Wells Trecaso Financial Group LLC now owns 3,616 shares of the company’s stock valued at $225,000 after buying an additional 164 shares during the last quarter. Atlas Brown Inc. raised its stake in shares of Coca-Cola by 0.8% in the fourth quarter. Atlas Brown Inc. now owns 21,024 shares of the company’s stock worth $1,309,000 after purchasing an additional 166 shares during the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO raised its stake in shares of Coca-Cola by 0.4% in the fourth quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 39,198 shares of the company’s stock worth $2,440,000 after purchasing an additional 169 shares during the last quarter. Finally, Great Diamond Partners LLC raised its stake in shares of Coca-Cola by 1.7% in the fourth quarter. Great Diamond Partners LLC now owns 10,314 shares of the company’s stock worth $642,000 after purchasing an additional 169 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Trading Up 0.2 %

Shares of Coca-Cola stock opened at $70.93 on Friday. The firm has a market cap of $305.06 billion, a price-to-earnings ratio of 28.72, a PEG ratio of 3.79 and a beta of 0.61. The business has a 50-day moving average price of $64.36 and a 200-day moving average price of $66.50. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. Equities research analysts anticipate that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $0.51 dividend. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date is Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.88%. Coca-Cola’s dividend payout ratio (DPR) is presently 82.59%.

Analysts Set New Price Targets

KO has been the subject of several recent analyst reports. Morgan Stanley boosted their price target on Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Jefferies Financial Group raised Coca-Cola from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $69.00 to $75.00 in a report on Thursday, January 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $69.00 price objective on shares of Coca-Cola in a report on Thursday, February 6th. Barclays boosted their price target on Coca-Cola from $66.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Finally, Piper Sandler lowered their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $73.82.

Insider Activity at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 145,435 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $71.01, for a total value of $10,327,339.35. Following the completion of the sale, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $24,324,191.46. This trade represents a 29.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bruno Pietracci sold 19,058 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $70.56, for a total transaction of $1,344,732.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 232,646 shares of company stock valued at $16,515,469. Insiders own 0.97% of the company’s stock.

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.