Fiduciary Trust Co Raises Stock Holdings in The Coca-Cola Company (NYSE:KO)

Fiduciary Trust Co raised its holdings in The Coca-Cola Company (NYSE:KO) by 1.4% in the 4th quarter, HoldingsChannel reports. The fund owned 206,100 shares of the company’s stock after acquiring an additional 2,802 shares during the period. Fiduciary Trust Co’s holdings in Coca-Cola were worth $12,832,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its stake in Coca-Cola by 1.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 893,192 shares of the company’s stock worth $55,610,000 after acquiring an additional 8,810 shares during the last quarter. ST Germain D J Co. Inc. increased its position in Coca-Cola by 17.4% during the 4th quarter. ST Germain D J Co. Inc. now owns 25,440 shares of the company’s stock worth $1,584,000 after purchasing an additional 3,774 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in Coca-Cola by 2.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 55,243 shares of the company’s stock valued at $3,439,000 after buying an additional 1,354 shares during the period. HBW Advisory Services LLC lifted its position in Coca-Cola by 14.2% during the fourth quarter. HBW Advisory Services LLC now owns 13,520 shares of the company’s stock valued at $842,000 after buying an additional 1,676 shares in the last quarter. Finally, Sugarloaf Wealth Management LLC grew its stake in Coca-Cola by 10.7% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 19,786 shares of the company’s stock worth $1,232,000 after buying an additional 1,911 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Activity

In other news, insider Bruno Pietracci sold 19,058 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $70.56, for a total transaction of $1,344,732.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John Murphy sold 88,658 shares of the business’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the transaction, the chief financial officer now directly owns 205,511 shares of the company’s stock, valued at $14,815,287.99. The trade was a 30.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 402,081 shares of company stock valued at $28,654,426. Company insiders own 0.97% of the company’s stock.

Coca-Cola Stock Down 1.6 %

Shares of Coca-Cola stock opened at $71.23 on Friday. The business has a 50-day moving average price of $70.94 and a 200 day moving average price of $66.64. The Coca-Cola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The firm has a market cap of $306.55 billion, a P/E ratio of 28.84, a P/E/G ratio of 3.79 and a beta of 0.47. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The business had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.23 billion. During the same period in the previous year, the business earned $0.72 EPS. The business’s quarterly revenue was down .7% on a year-over-year basis. On average, sell-side analysts forecast that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a $0.51 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.86%. Coca-Cola’s payout ratio is currently 81.60%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Morgan Stanley upped their price target on shares of Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Cfra Research upgraded Coca-Cola to a “strong-buy” rating in a research note on Tuesday, April 15th. JPMorgan Chase & Co. boosted their price target on Coca-Cola from $74.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, April 21st. UBS Group increased their price objective on shares of Coca-Cola from $84.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, April 30th. Finally, Evercore ISI boosted their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola presently has a consensus rating of “Buy” and a consensus price target of $75.59.

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.