The Coca-Cola Company (NYSE:KO) Shares Sold by Raymond James Trust N.A.

Raymond James Trust N.A. reduced its position in shares of The Coca-Cola Company (NYSE:KO) by 0.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 631,691 shares of the company’s stock after selling 1,207 shares during the period. Coca-Cola comprises approximately 1.0% of Raymond James Trust N.A.’s holdings, making the stock its 17th largest position. Raymond James Trust N.A.’s holdings in Coca-Cola were worth $45,393,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of KO. New Millennium Group LLC purchased a new stake in shares of Coca-Cola in the 2nd quarter worth about $26,000. Quarry LP acquired a new stake in shares of Coca-Cola during the second quarter worth $27,000. Hara Capital LLC purchased a new stake in Coca-Cola in the 3rd quarter valued at about $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Coca-Cola in the third quarter valued at approximately $36,000. Finally, Mount Lucas Management LP purchased a new stake in shares of Coca-Cola during the 2nd quarter valued at $38,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Coca-Cola

In other news, CEO James Quincey sold 42,397 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $70.02, for a total value of $2,968,637.94. Following the completion of the sale, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at $30,987,070.92. This represents a 8.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at $15,968,095. This trade represents a 7.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 160,881 shares of company stock valued at $10,693,244 in the last three months. 0.97% of the stock is currently owned by company insiders.

Coca-Cola Stock Up 1.2 %

Shares of KO stock opened at $63.76 on Friday. The business’s fifty day moving average is $67.94 and its 200-day moving average is $66.50. The Coca-Cola Company has a 1 year low of $57.47 and a 1 year high of $73.53. The stock has a market cap of $274.67 billion, a PE ratio of 26.35, a price-to-earnings-growth ratio of 3.80 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06.

Coca-Cola (NYSE:KO) last issued its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The firm had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period last year, the firm posted $0.74 earnings per share. Equities analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.485 per share. The ex-dividend date is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.04%. Coca-Cola’s dividend payout ratio is currently 80.17%.

Analyst Ratings Changes

KO has been the topic of several research reports. Truist Financial raised their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Cfra reissued a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Wells Fargo & Company boosted their price target on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Finally, Morgan Stanley lowered their price objective 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. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.36.

Coca-Cola Company Profile

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.