The Coca-Cola Company (NYSE:KO) Shares Sold by Norway Savings Bank

Norway Savings Bank reduced its position in The Coca-Cola Company (NYSE:KO) by 1.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,143 shares of the company’s stock after selling 420 shares during the quarter. Norway Savings Bank’s holdings in Coca-Cola were worth $1,355,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of KO. Patrick M Sweeney & Associates Inc. bought a new position in Coca-Cola during the fourth quarter worth $410,000. Beacon Pointe Advisors LLC lifted its position in shares of Coca-Cola by 24.7% in the 4th quarter. Beacon Pointe Advisors LLC now owns 450,523 shares of the company’s stock worth $26,549,000 after buying an additional 89,139 shares during the last quarter. Insigneo Advisory Services LLC grew its position in shares of Coca-Cola by 12.2% during the 3rd quarter. Insigneo Advisory Services LLC now owns 41,683 shares of the company’s stock valued at $2,354,000 after buying an additional 4,527 shares during the last quarter. Birchcreek Wealth Management LLC grew its position in shares of Coca-Cola by 12.6% during the 4th quarter. Birchcreek Wealth Management LLC now owns 4,539 shares of the company’s stock valued at $267,000 after buying an additional 507 shares during the last quarter. Finally, Wahed Invest LLC raised its stake in Coca-Cola by 10.3% during the third quarter. Wahed Invest LLC now owns 61,355 shares of the company’s stock worth $3,435,000 after acquiring an additional 5,707 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Stock Performance

Shares of NYSE KO opened at $63.65 on Friday. The Coca-Cola Company has a 1 year low of $51.55 and a 1 year high of $64.36. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 1.04. The stock has a fifty day moving average price of $62.72 and a two-hundred day moving average price of $60.77. The firm has a market cap of $274.20 billion, a P/E ratio of 25.46, a PEG ratio of 3.61 and a beta of 0.59.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. The firm had revenue of $11.30 billion for the quarter, compared to analyst estimates of $11.01 billion. During the same period in the previous year, the company earned $0.68 earnings per share. Coca-Cola’s revenue was up 2.7% compared to the same quarter last year. Research analysts forecast that The Coca-Cola Company will post 2.82 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend is Friday, June 14th. Coca-Cola’s dividend payout ratio is presently 77.60%.

Wall Street Analyst Weigh In

KO has been the subject of a number of analyst reports. Barclays boosted their price objective on Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. BNP Paribas started coverage on shares of Coca-Cola in a research report on Monday, June 24th. They set an “outperform” rating and a $72.00 price target for the company. Morgan Stanley lifted their price objective on shares of Coca-Cola from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, June 10th. UBS Group upped their target price on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Finally, Argus lifted their price target on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, May 22nd. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $68.83.

Insider Buying and Selling

In other news, EVP Beatriz R. Perez sold 57,298 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the completion of the sale, the executive vice president now directly owns 167,107 shares of the company’s stock, valued at approximately $10,358,962.93. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Nikolaos Koumettis sold 80,891 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $62.34, for a total value of $5,042,744.94. Following the completion of the transaction, the insider now owns 218,880 shares of the company’s stock, valued at approximately $13,644,979.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Beatriz R. Perez sold 57,298 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the sale, the executive vice president now directly owns 167,107 shares in the company, valued at $10,358,962.93. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 223,665 shares of company stock worth $13,995,465. Corporate insiders own 0.97% of the company’s stock.

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.