Blue Trust Inc. Sells 44,279 Shares of The Coca-Cola Company (NYSE:KO)

Blue Trust Inc. lessened its position in shares of The Coca-Cola Company (NYSE:KO) by 12.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 301,069 shares of the company’s stock after selling 44,279 shares during the quarter. Blue Trust Inc.’s holdings in Coca-Cola were worth $21,635,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Meridian Financial Partners LLC raised its holdings in shares of Coca-Cola by 1.5% in the 3rd quarter. Meridian Financial Partners LLC now owns 17,942 shares of the company’s stock worth $1,289,000 after buying an additional 262 shares in the last quarter. Moss Adams Wealth Advisors LLC lifted its holdings in shares of Coca-Cola by 2.1% during the third quarter. Moss Adams Wealth Advisors LLC now owns 11,498 shares of the company’s stock valued at $832,000 after acquiring an additional 242 shares during the period. Sage Financial Management Group Inc. acquired a new stake in shares of Coca-Cola in the 3rd quarter valued at $217,000. Net Worth Advisory Group bought a new stake in shares of Coca-Cola in the 3rd quarter worth about $323,000. Finally, Kohmann Bosshard Financial Services LLC bought a new position in Coca-Cola during the 3rd quarter valued at about $222,000. 70.26% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO James Quincey sold 102,533 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the transaction, the chief executive officer now directly owns 442,546 shares in the company, valued at $30,987,070.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Coca-Cola news, EVP Nancy Quan sold 37,787 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $66.96, for a total transaction of $2,530,217.52. Following the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $14,954,176.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO James Quincey sold 102,533 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the sale, the chief executive officer now directly owns 442,546 shares in the company, valued at approximately $30,987,070.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 356,792 shares of company stock worth $24,728,364 over the last ninety days. Insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on KO. TD Cowen boosted their target price on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Wells Fargo & Company lifted their price target on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Citigroup raised their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. BNP Paribas began coverage on Coca-Cola in a research note on Monday, June 24th. They issued an “outperform” rating and a $72.00 target price for the company. Finally, Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola presently has an average rating of “Moderate Buy” and a consensus target price of $72.00.

Coca-Cola Stock Performance

Shares of KO opened at $70.43 on Friday. The firm’s 50 day moving average price is $70.70 and its two-hundred day moving average price is $65.72. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08. The Coca-Cola Company has a twelve month low of $53.86 and a twelve month high of $73.53. The firm has a market cap of $303.41 billion, a P/E ratio of 28.17, a PEG ratio of 3.92 and a beta of 0.60.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.03. The firm had revenue of $12.40 billion for the quarter, compared to the consensus estimate of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the business posted $0.78 EPS. On average, analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.485 per share. The ex-dividend date is Friday, November 29th. This represents a $1.94 annualized dividend and a dividend yield of 2.75%. Coca-Cola’s dividend payout ratio is currently 77.60%.

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.