Moody National Bank Trust Division Has $3.47 Million Stake in The Coca-Cola Company (NYSE:KO)

Moody National Bank Trust Division decreased its position in shares of The Coca-Cola Company (NYSE:KO) by 1.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 55,715 shares of the company’s stock after selling 937 shares during the period. Moody National Bank Trust Division’s holdings in Coca-Cola were worth $3,469,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Parallel Advisors LLC lifted its holdings in shares of Coca-Cola by 0.9% during the 2nd quarter. Parallel Advisors LLC now owns 82,345 shares of the company’s stock worth $5,241,000 after acquiring an additional 755 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in Coca-Cola by 9.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 87,195 shares of the company’s stock valued at $5,550,000 after purchasing an additional 7,594 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Coca-Cola by 2.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 4,847,781 shares of the company’s stock valued at $308,561,000 after purchasing an additional 130,581 shares during the period. Williams Financial LLC acquired a new position in shares of Coca-Cola in the 2nd quarter worth approximately $6,593,000. Finally, Hoge Financial Services LLC lifted its position in shares of Coca-Cola by 6.1% during the 2nd quarter. Hoge Financial Services LLC now owns 3,850 shares of the company’s stock worth $245,000 after buying an additional 222 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insiders Place Their Bets

In other news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the transaction, the chief executive officer now owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. This represents a 22.60 % 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. Company insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and increased their target price for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Truist Financial boosted their target price on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Piper Sandler began coverage on Coca-Cola in a report on Tuesday, January 7th. They set an “overweight” rating and a $74.00 price target for the company. Barclays lowered their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Finally, Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $72.60.

Coca-Cola Stock Up 1.2 %

Shares of NYSE KO traded up $0.76 during midday trading on Monday, reaching $61.83. The company’s stock had a trading volume of 9,078,329 shares, compared to its average volume of 14,930,507. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The stock has a 50 day simple moving average of $62.91 and a 200-day simple moving average of $66.50. The stock has a market capitalization of $266.35 billion, a price-to-earnings ratio of 25.55, a PEG ratio of 3.83 and a beta of 0.61. The Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53.

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

Coca-Cola Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date was Friday, November 29th. Coca-Cola’s payout ratio is currently 80.17%.

Coca-Cola 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.