The Coca-Cola Company (NYSE:KO) Shares Sold by OLD Point Trust & Financial Services N A

OLD Point Trust & Financial Services N A lowered its holdings in shares of The Coca-Cola Company (NYSE:KO) by 4.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,773 shares of the company’s stock after selling 1,966 shares during the period. OLD Point Trust & Financial Services N A’s holdings in Coca-Cola were worth $2,476,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of KO. Charles Schwab Investment Management Inc. lifted its stake in shares of Coca-Cola by 18.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company’s stock worth $4,617,400,000 after acquiring an additional 11,569,920 shares during the period. FMR LLC raised its holdings in Coca-Cola by 13.7% during the third quarter. FMR LLC now owns 92,961,376 shares of the company’s stock worth $6,680,205,000 after purchasing an additional 11,206,995 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Coca-Cola in the fourth quarter worth approximately $500,192,000. Wellington Management Group LLP boosted its stake in Coca-Cola by 14.5% during the 3rd quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock valued at $2,271,885,000 after purchasing an additional 4,013,996 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Coca-Cola by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock valued at $6,664,005,000 after purchasing an additional 2,966,964 shares during the period. Institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling at Coca-Cola

In other news, EVP Lisa Chang sold 13,445 shares of the firm’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $71.50, for a total transaction of $961,317.50. Following the transaction, the executive vice president now owns 94,676 shares in the company, valued at approximately $6,769,334. This trade represents a 12.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bruno Pietracci sold 19,058 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $70.56, for a total transaction of $1,344,732.48. The disclosure for this sale can be found here. Insiders have sold 313,423 shares of company stock worth $22,263,071 over the last 90 days. 0.97% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

KO has been the subject of several research analyst reports. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Wednesday, January 8th. Wells Fargo & Company upped their price target on shares of Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. Royal Bank of Canada reissued an “outperform” rating and set a $69.00 target price on shares of Coca-Cola in a research note on Thursday, February 6th. Finally, Piper Sandler lifted their price target on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $74.24.

Coca-Cola Trading Down 0.1 %

NYSE:KO opened at $69.33 on Thursday. The stock’s 50-day moving average is $66.69 and its two-hundred day moving average is $66.53. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. The stock has a market cap of $298.20 billion, a PE ratio of 28.07, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57. The Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. As a group, equities research analysts forecast that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $0.51 per share. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a yield of 2.94%. Coca-Cola’s dividend payout ratio (DPR) is presently 82.59%.

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.