Nixon Peabody Trust Co. Purchases 778 Shares of The Coca-Cola Company (NYSE:KO)

Nixon Peabody Trust Co. boosted its position in The Coca-Cola Company (NYSE:KO) by 0.4% in the third quarter, HoldingsChannel reports. The firm owned 191,443 shares of the company’s stock after buying an additional 778 shares during the quarter. Nixon Peabody Trust Co.’s holdings in Coca-Cola were worth $13,757,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in KO. Price T Rowe Associates Inc. MD raised its position in Coca-Cola by 21.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock worth $3,016,023,000 after acquiring an additional 8,733,326 shares during the period. Manning & Napier Advisors LLC purchased a new position in Coca-Cola in the second quarter valued at approximately $188,448,000. Pathway Financial Advisers LLC increased its position in Coca-Cola by 7,006.8% in the third quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company’s stock worth $178,104,000 after buying an additional 2,443,612 shares during the last quarter. Raymond James & Associates raised its stake in shares of Coca-Cola by 42.6% in the second quarter. Raymond James & Associates now owns 6,245,331 shares of the company’s stock valued at $397,515,000 after buying an additional 1,866,348 shares during the period. Finally, International Assets Investment Management LLC lifted its position in shares of Coca-Cola by 7,792.8% during the 3rd quarter. International Assets Investment Management LLC now owns 1,744,302 shares of the company’s stock valued at $125,346,000 after buying an additional 1,722,202 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling at Coca-Cola

In other news, EVP Nancy Quan sold 18,484 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the completion of the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. This represents a 7.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO James Quincey sold 102,533 shares of Coca-Cola stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of 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 18.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 303,748 shares of company stock worth $20,677,431 over the last three months. Company insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on KO shares. Truist Financial boosted 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. Cfra restated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Morgan Stanley reduced their price objective on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. TD Cowen increased their target price on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Finally, Barclays reduced their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Four investment 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $72.36.

Coca-Cola Price Performance

KO stock traded up $0.14 during mid-day trading on Monday, hitting $61.88. 340,083 shares of the stock were exchanged, compared to its average volume of 13,306,535. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The stock has a market capitalization of $266.57 billion, a price-to-earnings ratio of 25.51, a PEG ratio of 3.75 and a beta of 0.61. The business has a fifty day moving average price of $68.63 and a 200 day moving average price of $66.54. The Coca-Cola Company has a 12 month low of $56.96 and a 12 month high of $73.53.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. The business had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The business’s quarterly revenue was down .8% on a year-over-year basis. During the same period last year, the business earned $0.74 earnings per share. On average, sell-side analysts anticipate 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. Shareholders of record on Friday, November 29th will be paid a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 3.14%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio is presently 80.17%.

Coca-Cola 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.