Webster Bank N. A. Sells 170 Shares of The Coca-Cola Company (NYSE:KO)

Webster Bank N. A. reduced its position in The Coca-Cola Company (NYSE:KOGet Rating) by 0.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 26,294 shares of the company’s stock after selling 170 shares during the period. Webster Bank N. A.’s holdings in Coca-Cola were worth $1,630,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Cohen Lawrence B lifted its holdings in Coca-Cola by 0.3% during the fourth quarter. Cohen Lawrence B now owns 51,742 shares of the company’s stock worth $3,064,000 after buying an additional 163 shares during the period. Aberdeen Wealth Management LLC lifted its stake in shares of Coca-Cola by 0.9% during the 4th quarter. Aberdeen Wealth Management LLC now owns 17,867 shares of the company’s stock worth $1,058,000 after purchasing an additional 167 shares during the last quarter. McClarren Financial Advisors Inc. lifted its stake in shares of Coca-Cola by 18.5% during the 4th quarter. McClarren Financial Advisors Inc. now owns 1,077 shares of the company’s stock worth $64,000 after purchasing an additional 168 shares during the last quarter. Avity Investment Management Inc. boosted its position in Coca-Cola by 0.4% during the fourth quarter. Avity Investment Management Inc. now owns 44,087 shares of the company’s stock valued at $2,610,000 after purchasing an additional 171 shares in the last quarter. Finally, Veriti Management LLC raised its holdings in Coca-Cola by 0.3% in the fourth quarter. Veriti Management LLC now owns 54,341 shares of the company’s stock worth $3,218,000 after purchasing an additional 173 shares in the last quarter. 68.51% of the stock is currently owned by institutional investors and hedge funds.

In related news, COO Brian John Smith sold 35,800 shares of the business’s stock in a transaction on Monday, April 25th. The shares were sold at an average price of $67.04, for a total value of $2,400,032.00. Following the completion of the sale, the chief operating officer now directly owns 116,168 shares of the company’s stock, valued at $7,787,902.72. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Nancy Quan sold 35,335 shares of the company’s stock in a transaction on Thursday, April 14th. The shares were sold at an average price of $65.05, for a total transaction of $2,298,541.75. Following the completion of the sale, the senior vice president now owns 198,456 shares of the company’s stock, valued at approximately $12,909,562.80. The disclosure for this sale can be found here. Insiders sold a total of 412,161 shares of company stock worth $26,786,278 over the last three months. Corporate insiders own 0.98% of the company’s stock.

NYSE:KO opened at $61.15 on Thursday. The firm’s fifty day moving average is $63.44 and its two-hundred day moving average is $61.45. The firm has a market cap of $265.09 billion, a price-to-earnings ratio of 25.69, a PEG ratio of 3.52 and a beta of 0.58. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.18. The Coca-Cola Company has a one year low of $52.28 and a one year high of $67.20.

Coca-Cola (NYSE:KOGet Rating) last posted its earnings results on Monday, April 25th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.58 by $0.06. Coca-Cola had a return on equity of 41.84% and a net margin of 25.69%. The firm had revenue of $10.50 billion for the quarter, compared to analyst estimates of $9.83 billion. During the same period last year, the company earned $0.55 earnings per share. Coca-Cola’s revenue for the quarter was up 16.7% compared to the same quarter last year. As a group, equities research analysts predict that The Coca-Cola Company will post 2.47 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Wednesday, June 15th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend is Tuesday, June 14th. Coca-Cola’s payout ratio is 73.95%.

A number of brokerages have recently issued reports on KO. HSBC lifted their price objective on shares of Coca-Cola from $68.00 to $72.00 and gave the stock a “buy” rating in a research report on Tuesday, April 26th. Barclays set a $74.00 price target on Coca-Cola in a research report on Wednesday, April 27th. Truist Financial boosted their target price on Coca-Cola from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, April 26th. DZ Bank lowered Coca-Cola from a “buy” rating to a “hold” rating and set a $69.00 target price on the stock. in a research report on Thursday, April 28th. Finally, Guggenheim raised their price target on Coca-Cola from $68.00 to $71.00 and gave the stock a “buy” rating in a report on Tuesday, April 26th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $68.05.

About Coca-Cola (Get Rating)

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; flavored and enhanced water, and sports drinks; juice, dairy, and plant-based beverages; tea and coffee; and energy drinks. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

See Also

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

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