Trust Co lifted its stake in shares of The Coca-Cola Co (NYSE:KO) by 1.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 101,349 shares of the company’s stock after purchasing an additional 1,214 shares during the quarter. The Coca-Cola accounts for approximately 1.9% of Trust Co’s investment portfolio, making the stock its 21st biggest holding. Trust Co’s holdings in The Coca-Cola were worth $4,561,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Swiss National Bank lifted its position in The Coca-Cola by 3.0% during the second quarter. Swiss National Bank now owns 16,389,490 shares of the company’s stock valued at $735,069,000 after purchasing an additional 470,700 shares during the period. Summit Financial Group Inc. acquired a new position in The Coca-Cola during the second quarter valued at $2,779,000. Global X Management Co. LLC lifted its position in The Coca-Cola by 6.0% during the second quarter. Global X Management Co. LLC now owns 222,216 shares of the company’s stock valued at $9,966,000 after purchasing an additional 12,513 shares during the period. Amalgamated Bank raised its position in shares of The Coca-Cola by 54.8% in the second quarter. Amalgamated Bank now owns 448,572 shares of the company’s stock worth $20,118,000 after acquiring an additional 158,741 shares during the period. Finally, Flippin Bruce & Porter Inc. raised its position in shares of The Coca-Cola by 1.8% in the second quarter. Flippin Bruce & Porter Inc. now owns 98,037 shares of the company’s stock worth $4,397,000 after acquiring an additional 1,705 shares during the period. Institutional investors and hedge funds own 65.34% of the company’s stock.
In related news, CFO Kathy N. Waller sold 23,240 shares of the company’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $46.15, for a total transaction of $1,072,526.00. Following the completion of the sale, the chief financial officer now owns 123,796 shares of the company’s stock, valued at approximately $5,713,185.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Robert Edward Long sold 15,000 shares of the company’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $47.95, for a total transaction of $719,250.00. Following the sale, the insider now directly owns 24,673 shares of the company’s stock, valued at approximately $1,183,070.35. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 122,640 shares of company stock valued at $5,800,776. 1.51% of the stock is owned by corporate insiders.
Shares of The Coca-Cola Co (NYSE:KO) opened at $44.98 on Friday. The Coca-Cola Co has a one year low of $41.05 and a one year high of $48.62. The stock has a market cap of $191,644.80, a PE ratio of 23.55, a P/E/G ratio of 3.63 and a beta of 0.70. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.30 and a current ratio of 1.39.
The Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Friday, February 16th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.01. The Coca-Cola had a net margin of 12.20% and a return on equity of 36.21%. The company had revenue of $7.51 billion during the quarter, compared to analysts’ expectations of $7.36 billion. During the same quarter in the prior year, the company earned $0.37 EPS. The Coca-Cola’s revenue was down 20.2% compared to the same quarter last year. equities analysts expect that The Coca-Cola Co will post 2.03 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Thursday, March 15th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 3.47%. The ex-dividend date is Wednesday, March 14th. This is a boost from The Coca-Cola’s previous quarterly dividend of $0.37. The Coca-Cola’s dividend payout ratio is currently 548.15%.
A number of research analysts have weighed in on the stock. BMO Capital Markets reiterated a “hold” rating and issued a $48.00 price objective on shares of The Coca-Cola in a research report on Friday. Royal Bank of Canada set a $56.00 price objective on shares of The Coca-Cola and gave the stock a “buy” rating in a research report on Friday. Goldman Sachs Group set a $49.00 price objective on shares of The Coca-Cola and gave the stock a “sell” rating in a research report on Friday. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a price objective on shares of The Coca-Cola in a research report on Friday. Finally, Credit Suisse Group reiterated a “buy” rating on shares of The Coca-Cola in a research report on Tuesday, February 13th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eleven have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $49.09.
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About The Coca-Cola
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets non-alcoholic beverage brands, primarily sparkling beverages and a range of still beverages, such as waters, flavored waters and enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, sports drinks, dairy and energy drinks.
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