Farmers Trust Co. Sells 280 Shares of The Coca-Cola Company (NYSE:KO)

Farmers Trust Co. lowered its stake in shares of The Coca-Cola Company (NYSE:KO) by 1.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 18,592 shares of the company’s stock after selling 280 shares during the quarter. Farmers Trust Co.’s holdings in Coca-Cola were worth $1,158,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of KO. Strategic Financial Concepts LLC purchased a new position in shares of Coca-Cola during the 2nd quarter worth about $68,000. Prudential PLC raised its holdings in shares of Coca-Cola by 45.9% in the second quarter. Prudential PLC now owns 38,309 shares of the company’s stock worth $2,438,000 after buying an additional 12,051 shares during the period. LGT Fund Management Co Ltd. lifted its stake in shares of Coca-Cola by 449.8% during the 2nd quarter. LGT Fund Management Co Ltd. now owns 207,157 shares of the company’s stock worth $13,186,000 after acquiring an additional 169,477 shares during the last quarter. Royal London Asset Management Ltd. grew its position in Coca-Cola by 0.7% in the 2nd quarter. Royal London Asset Management Ltd. now owns 1,842,883 shares of the company’s stock valued at $117,300,000 after acquiring an additional 13,681 shares during the last quarter. Finally, Andra AP fonden grew its position in Coca-Cola by 33.9% in the 2nd quarter. Andra AP fonden now owns 411,600 shares of the company’s stock valued at $26,198,000 after acquiring an additional 104,100 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Stock Up 1.2 %

Shares of KO stock traded up $0.75 during trading on Wednesday, reaching $61.59. The company’s stock had a trading volume of 8,369,733 shares, compared to its average volume of 13,427,842. The Coca-Cola Company has a 1-year low of $57.93 and a 1-year high of $73.53. The stock’s 50-day moving average price is $63.15 and its 200 day moving average price is $66.55. The company has a market capitalization of $265.32 billion, a price-to-earnings ratio of 25.45, a P/E/G ratio of 3.83 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The company had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. During the same quarter last year, the company earned $0.74 EPS. Coca-Cola’s revenue for the quarter was down .8% compared to the same quarter last year. On average, research analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 3.15%. The ex-dividend date of this dividend was Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

Insiders Place Their Bets

In other news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the completion of the transaction, the chief executive officer now owns 342,546 shares in the company, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.97% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on KO. Truist Financial boosted their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Morgan Stanley reduced their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Wells Fargo & Company lowered their price target on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Finally, TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Wednesday. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $72.60.

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.