US Bancorp DE Trims Holdings in The Coca-Cola Company (NYSE:KO)

US Bancorp DE reduced its stake in The Coca-Cola Company (NYSE:KO) by 1.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,415,295 shares of the company’s stock after selling 57,272 shares during the quarter. US Bancorp DE’s holdings in Coca-Cola were worth $317,283,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. New Millennium Group LLC acquired a new position in Coca-Cola in the second quarter valued at approximately $26,000. Quarry LP acquired a new position in shares of Coca-Cola in the 2nd quarter valued at $27,000. ESL Trust Services LLC purchased a new position in shares of Coca-Cola during the 1st quarter worth $28,000. DiNuzzo Private Wealth Inc. increased its position in shares of Coca-Cola by 65.0% during the 1st quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock worth $32,000 after purchasing an additional 206 shares during the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in Coca-Cola in the 3rd quarter valued at about $36,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Coca-Cola

In other news, EVP Nancy Quan sold 18,482 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $68.95, for a total transaction of $1,274,333.90. Following the completion of the sale, the executive vice president now owns 223,330 shares in the company, valued at $15,398,603.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Coca-Cola news, insider Bruno Pietracci sold 38,653 shares of Coca-Cola stock in a transaction that occurred on Friday, August 2nd. The stock was 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 accessible through this link. Also, EVP Nancy Quan sold 18,482 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $68.95, for a total value of $1,274,333.90. Following the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $15,398,603.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 319,005 shares of company stock worth $22,198,147 in the last quarter. Company insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

KO has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. Morgan Stanley cut their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Truist Financial lifted their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Royal Bank of Canada increased their target price on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Coca-Cola currently has a consensus rating of “Moderate Buy” and an average price target of $71.80.

Coca-Cola Stock Performance

NYSE KO traded down $0.35 on Thursday, reaching $65.57. The stock had a trading volume of 1,912,128 shares, compared to its average volume of 13,207,437. The stock has a market cap of $282.46 billion, a P/E ratio of 27.12, a price-to-earnings-growth ratio of 3.91 and a beta of 0.60. The Coca-Cola Company has a 12-month low of $56.06 and a 12-month high of $73.53. The business’s 50-day moving average price is $70.47 and its 200 day moving average price is $66.22. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.74 by $0.03. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The firm had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter in the prior year, the firm earned $0.74 EPS. Coca-Cola’s revenue for the quarter was down .8% on a year-over-year basis. As a group, equities analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

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 dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio is currently 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.