Community Trust & Investment Co. Has $3.68 Million Position in The Coca-Cola Company (NYSE:KO)

Community Trust & Investment Co. lessened its stake in The Coca-Cola Company (NYSE:KO) by 3.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 51,310 shares of the company’s stock after selling 1,762 shares during the period. Community Trust & Investment Co.’s holdings in Coca-Cola were worth $3,675,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Crowley Wealth Management Inc. bought a new stake in shares of Coca-Cola during the fourth quarter valued at approximately $27,000. Mainstream Capital Management LLC bought a new stake in Coca-Cola in the 4th quarter valued at $31,000. REAP Financial Group LLC raised its stake in shares of Coca-Cola by 57.5% in the 4th quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock valued at $35,000 after buying an additional 208 shares in the last quarter. Murphy & Mullick Capital Management Corp bought a new position in shares of Coca-Cola during the 4th quarter worth about $38,000. Finally, Hoey Investments Inc. boosted its position in shares of Coca-Cola by 41.9% during the 4th quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock valued at $38,000 after acquiring an additional 181 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Stock Performance

Shares of NYSE:KO opened at $70.94 on Monday. The business has a fifty day moving average of $71.56 and a 200-day moving average of $67.89. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The Coca-Cola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The firm has a market cap of $305.36 billion, a PE ratio of 28.72, a price-to-earnings-growth ratio of 3.79 and a beta of 0.46.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.02. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The firm had revenue of $11.13 billion during the quarter, compared to analysts’ expectations of $11.23 billion. During the same quarter last year, the company posted $0.72 EPS. The company’s quarterly revenue was down .7% compared to the same quarter last year. On average, equities research analysts predict that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date is Friday, June 13th. Coca-Cola’s dividend payout ratio is currently 81.60%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Cfra Research raised shares of Coca-Cola to a “strong-buy” rating in a research report on Tuesday, April 15th. Piper Sandler upped their price objective on Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Barclays reissued an “overweight” rating on shares of Coca-Cola in a report on Thursday, March 27th. Morgan Stanley reaffirmed an “overweight” rating and issued a $81.00 price target on shares of Coca-Cola in a research note on Monday, June 9th. Finally, Royal Bank of Canada upped their price target on Coca-Cola from $73.00 to $76.00 and gave the company an “outperform” rating in a research report on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $76.00.

Insider Buying and Selling

In other Coca-Cola news, CEO James Quincey sold 266,403 shares of the company’s stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the transaction, the chief executive officer now directly owns 275,946 shares in the company, valued at approximately $19,884,668.76. This represents a 49.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Beatriz R. Perez sold 60,326 shares of the firm’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the completion of the transaction, the executive vice president now directly owns 187,716 shares in the company, valued at $13,491,148.92. This trade represents a 24.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold 415,387 shares of company stock worth $29,923,985 in the last quarter. Insiders own 0.97% of the company’s stock.

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.