The Coca-Cola Company (NYSE:KO) Position Lessened by City State Bank

City State Bank trimmed its position in shares of The Coca-Cola Company (NYSE:KO) by 1.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,209 shares of the company’s stock after selling 247 shares during the period. City State Bank’s holdings in Coca-Cola were worth $1,071,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Quarry LP bought a new position in Coca-Cola during the second quarter valued at about $27,000. Hara Capital LLC acquired a new stake in shares of Coca-Cola in the third quarter valued at about $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Coca-Cola in the third quarter valued at about $36,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Coca-Cola in the third quarter valued at about $43,000. Finally, ORG Wealth Partners LLC acquired a new stake in shares of Coca-Cola in the third quarter valued at about $58,000. 70.26% of the stock is currently owned by institutional investors.

Insider Activity

In related 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 directly owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.97% of the stock is owned by company insiders.

Coca-Cola Trading Up 0.3 %

Shares of Coca-Cola stock traded up $0.21 on Monday, hitting $61.28. 3,332,505 shares of the company’s stock traded hands, compared to its average volume of 14,089,363. The firm’s 50-day moving average price is $62.91 and its two-hundred day moving average price is $66.50. The stock has a market capitalization of $263.98 billion, a PE ratio of 25.32, a price-to-earnings-growth ratio of 3.83 and a beta of 0.61. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53. 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 issued its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.74 by $0.03. The company had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The business’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 EPS. On average, research analysts expect that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 3.17%. The ex-dividend date was Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is 80.17%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Wednesday, January 8th. Barclays decreased their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Truist Financial lifted their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and lifted their price objective for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Finally, Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus 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.