Trust Co Boosts Stake in The Coca-Cola Co (KO)

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.

TRADEMARK VIOLATION NOTICE: “Trust Co Boosts Stake in The Coca-Cola Co (KO)” was originally posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this article on another publication, it was illegally stolen and republished in violation of United States and international copyright and trademark legislation. The correct version of this article can be read at https://ledgergazette.com/2018/02/18/trust-co-boosts-stake-in-the-coca-cola-co-ko.html.

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.

Want to see what other hedge funds are holding KO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Coca-Cola Co (NYSE:KO).

Institutional Ownership by Quarter for The Coca-Cola (NYSE:KO)

Receive News & Ratings for The Coca-Cola Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Coca-Cola and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply