The Coca-Cola Company (NYSE:KO) Shares Sold by Charter Trust Co.

Charter Trust Co. lowered its stake in shares of The Coca-Cola Company (NYSE:KO) by 32.4% in the second quarter, Holdings Channel reports. The institutional investor owned 47,158 shares of the company’s stock after selling 22,588 shares during the quarter. Charter Trust Co.’s holdings in The Coca-Cola were worth $2,551,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Element Wealth LLC raised its stake in The Coca-Cola by 3.7% during the second quarter. Element Wealth LLC now owns 5,291 shares of the company’s stock worth $286,000 after acquiring an additional 188 shares in the last quarter. Harbor Financial Services LLC increased its position in shares of The Coca-Cola by 2.9% during the 1st quarter. Harbor Financial Services LLC now owns 6,721 shares of the company’s stock worth $354,000 after purchasing an additional 189 shares in the last quarter. Kingsview Wealth Management LLC lifted its holdings in The Coca-Cola by 0.4% during the 1st quarter. Kingsview Wealth Management LLC now owns 48,571 shares of the company’s stock valued at $2,550,000 after purchasing an additional 194 shares during the last quarter. Bragg Financial Advisors Inc boosted its position in The Coca-Cola by 0.5% in the first quarter. Bragg Financial Advisors Inc now owns 42,247 shares of the company’s stock valued at $2,227,000 after buying an additional 195 shares in the last quarter. Finally, Cassia Capital Partners LLC grew its stake in The Coca-Cola by 5.2% during the first quarter. Cassia Capital Partners LLC now owns 3,933 shares of the company’s stock worth $207,000 after buying an additional 195 shares during the last quarter. Institutional investors and hedge funds own 66.67% of the company’s stock.

A number of research firms recently commented on KO. Wells Fargo & Company increased their price target on The Coca-Cola from $62.00 to $64.00 and gave the stock an “overweight” rating in a research report on Thursday, July 22nd. Argus increased their price target on shares of The Coca-Cola from $60.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, June 17th. Zacks Investment Research upgraded The Coca-Cola from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research report on Tuesday, July 6th. Jefferies Financial Group lifted their price target on shares of The Coca-Cola from $57.00 to $59.00 and gave the stock a “hold” rating in a research report on Friday, July 16th. Finally, Truist raised their price target on The Coca-Cola from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, July 22nd. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $61.25.

In other news, COO Brian John Smith sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 27th. The shares were sold at an average price of $55.65, for a total transaction of $556,500.00. Following the completion of the sale, the chief operating officer now owns 144,229 shares in the company, valued at approximately $8,026,343.85. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Nancy Quan sold 19,911 shares of the company’s stock in a transaction on Friday, July 16th. The shares were sold at an average price of $56.50, for a total value of $1,124,971.50. Following the transaction, the senior vice president now directly owns 196,745 shares in the company, valued at approximately $11,116,092.50. The disclosure for this sale can be found here. Insiders have sold a total of 68,188 shares of company stock worth $3,864,107 over the last ninety days. Insiders own 1.01% of the company’s stock.

NYSE KO traded up $0.27 on Tuesday, hitting $54.33. 286,551 shares of the company were exchanged, compared to its average volume of 15,714,781. The company has a current ratio of 1.47, a quick ratio of 1.25 and a debt-to-equity ratio of 1.64. The stock has a fifty day moving average of $56.34 and a 200-day moving average of $54.69. The company has a market cap of $234.25 billion, a PE ratio of 28.91, a PEG ratio of 2.85 and a beta of 0.62. The Coca-Cola Company has a 12 month low of $47.30 and a 12 month high of $57.56.

The Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, July 20th. The company reported $0.68 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.12. The business had revenue of $10.10 billion for the quarter, compared to analysts’ expectations of $9.30 billion. The Coca-Cola had a net margin of 22.19% and a return on equity of 44.17%. The firm’s revenue for the quarter was up 40.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.42 EPS. On average, analysts expect that The Coca-Cola Company will post 2.25 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 1st. Shareholders of record on Wednesday, September 15th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 3.09%. The ex-dividend date is Tuesday, September 14th. The Coca-Cola’s dividend payout ratio (DPR) is presently 86.15%.

The Coca-Cola Company Profile

The Coca-Cola Co is the nonalcoholic beverage company, which engages in the manufacture, market, and sale of non-alcoholic beverages which include sparkling soft drinks, water, enhanced water and sports drinks, juice, dairy and plant-based beverages, tea and coffee and energy drinks. Its brands include Coca-Cola, Diet Coke, Coca-Cola Zero, Fanta, Sprite, Minute Maid, Georgia, Powerade, Del Valle, Schweppes, Aquarius, Minute Maid Pulpy, Dasani, Simply, Glaceau Vitaminwater, Bonaqua, Gold Peak, Fuze Tea, Glaceau Smartwater, and Ice Dew.

Further Reading: Dual Listing

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Institutional Ownership by Quarter for The Coca-Cola (NYSE:KO)

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