First Western Trust Bank Decreases Holdings in The Coca-Cola Company (NYSE:KO)

First Western Trust Bank reduced its stake in The Coca-Cola Company (NYSE:KO) by 3.1% during the third quarter, according to its most recent filing with the SEC. The fund owned 36,612 shares of the company’s stock after selling 1,159 shares during the quarter. First Western Trust Bank’s holdings in Coca-Cola were worth $2,631,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Strengthening Families & Communities LLC boosted its stake in Coca-Cola by 7.6% in the third quarter. Strengthening Families & Communities LLC now owns 35,210 shares of the company’s stock valued at $2,530,000 after acquiring an additional 2,499 shares during the last quarter. WP Advisors LLC purchased a new position in Coca-Cola in the third quarter valued at approximately $206,000. Holistic Financial Partners grew its holdings in Coca-Cola by 29.1% during the third quarter. Holistic Financial Partners now owns 4,589 shares of the company’s stock valued at $330,000 after purchasing an additional 1,035 shares during the period. Braun Stacey Associates Inc. raised its stake in shares of Coca-Cola by 411.6% in the third quarter. Braun Stacey Associates Inc. now owns 313,440 shares of the company’s stock valued at $22,524,000 after buying an additional 252,174 shares during the period. Finally, Richard C. Young & CO. LTD. lifted its position in shares of Coca-Cola by 9.0% during the 3rd quarter. Richard C. Young & CO. LTD. now owns 158,900 shares of the company’s stock valued at $11,419,000 after buying an additional 13,110 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Price Performance

KO opened at $61.74 on Monday. The firm has a market cap of $265.96 billion, a PE ratio of 25.51, a P/E/G ratio of 3.75 and a beta of 0.61. The stock has a 50-day moving average price of $68.63 and a 200-day moving average price of $66.54. The Coca-Cola Company has a 1 year low of $56.70 and a 1 year high of $73.53. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. The business had revenue of $11.85 billion during 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%. Coca-Cola’s revenue was down .8% compared to the same quarter last year. During the same period last year, the business earned $0.74 EPS. Sell-side analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a $0.485 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 3.14%. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

Insider Buying and Selling at Coca-Cola

In other news, EVP Lisa Chang sold 40,334 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $69.54, for a total transaction of $2,804,826.36. Following the sale, the executive vice president now owns 74,067 shares of the company’s stock, valued at $5,150,619.18. This trade represents a 35.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the completion of the sale, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 303,748 shares of company stock worth $20,677,431. Insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

KO has been the subject of several analyst reports. Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Barclays cut their price target on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Morgan Stanley dropped their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Finally, Truist Financial upped their target price on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $72.36.

About Coca-Cola

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.