CocaCola Company (The) (NYSE:KO) Shares Sold by Equitable Trust Co.

Equitable Trust Co. trimmed its position in CocaCola Company (The) (NYSE:KO) by 0.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 95,121 shares of the company’s stock after selling 208 shares during the quarter. Equitable Trust Co.’s holdings in CocaCola were worth $6,813,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of KO. Drive Wealth Management LLC raised its stake in CocaCola by 2.3% during the 1st quarter. Drive Wealth Management LLC now owns 10,813 shares of the company’s stock worth $780,000 after acquiring an additional 245 shares in the last quarter. Longbow Finance SA acquired a new stake in CocaCola during the 1st quarter worth $23,038,000. Caliber Wealth Management LLC KS acquired a new stake in CocaCola during the 1st quarter worth $413,000. Trilogy Capital Inc. raised its stake in CocaCola by 2.7% during the 1st quarter. Trilogy Capital Inc. now owns 56,294 shares of the company’s stock worth $4,032,000 after acquiring an additional 1,462 shares in the last quarter. Finally, Neo Ivy Capital Management acquired a new stake in CocaCola during the 1st quarter worth $837,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

CocaCola Stock Down 0.0%

KO stock opened at $69.13 on Friday. The company has a market cap of $297.57 billion, a P/E ratio of 24.52, a P/E/G ratio of 3.61 and a beta of 0.45. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The company’s 50-day moving average price is $70.69 and its 200 day moving average price is $69.28. The company has a current ratio of 1.21, a quick ratio of 0.89 and a debt-to-equity ratio of 1.49.

CocaCola (NYSE:KO) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.04. The firm had revenue of $12.50 billion for the quarter, compared to the consensus estimate of $12.55 billion. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The firm’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.84 earnings per share. On average, research analysts expect that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date of this dividend is Monday, September 15th. CocaCola’s payout ratio is currently 72.34%.

Analyst Ratings Changes

Several brokerages have issued reports on KO. BNP Paribas reissued an “outperform” rating and set a $83.00 price objective on shares of CocaCola in a research report on Monday. Morgan Stanley reissued an “overweight” rating and set a $81.00 price objective on shares of CocaCola in a research report on Monday, June 9th. Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the stock an “outperform” rating in a research report on Monday. Cfra Research raised shares of CocaCola to a “strong-buy” rating in a research report on Tuesday, April 15th. Finally, UBS Group lowered their price objective on shares of CocaCola from $86.00 to $84.00 and set a “buy” rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, CocaCola currently has a consensus rating of “Buy” and an average price target of $77.21.

Insiders Place Their Bets

In other CocaCola news, EVP Beatriz R. Perez sold 60,326 shares of CocaCola stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the completion of the transaction, the executive vice president owned 187,716 shares in the company, valued at approximately $13,491,148.92. The trade was a 24.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO John Murphy sold 88,658 shares of CocaCola stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the transaction, the chief financial officer owned 205,511 shares of the company’s stock, valued at approximately $14,815,287.99. The trade was a 30.14% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 415,387 shares of company stock worth $29,923,985. Insiders own 0.97% of the company’s stock.

About CocaCola

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.