Trust Co. of Toledo NA OH Acquires 257 Shares of The Coca-Cola Company (NYSE:KO)

Trust Co. of Toledo NA OH increased its holdings in shares of The Coca-Cola Company (NYSE:KO) by 0.3% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 92,628 shares of the company’s stock after purchasing an additional 257 shares during the quarter. Coca-Cola accounts for 0.9% of Trust Co. of Toledo NA OH’s holdings, making the stock its 28th biggest position. Trust Co. of Toledo NA OH’s holdings in Coca-Cola were worth $6,656,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of KO. Capital Research Global Investors boosted its position in Coca-Cola by 4.3% during the 4th quarter. Capital Research Global Investors now owns 3,796,462 shares of the company’s stock worth $223,726,000 after acquiring an additional 156,071 shares during the last quarter. Oppenheimer & Co. Inc. boosted its holdings in Coca-Cola by 4.8% during the fourth quarter. Oppenheimer & Co. Inc. now owns 173,553 shares of the company’s stock worth $10,227,000 after purchasing an additional 7,879 shares during the last quarter. Cetera Advisor Networks LLC grew its position in Coca-Cola by 1.6% in the fourth quarter. Cetera Advisor Networks LLC now owns 489,292 shares of the company’s stock valued at $28,834,000 after purchasing an additional 7,603 shares in the last quarter. Pinnacle West Asset Management Inc. grew its position in Coca-Cola by 3.5% in the fourth quarter. Pinnacle West Asset Management Inc. now owns 10,490 shares of the company’s stock valued at $618,000 after purchasing an additional 350 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in Coca-Cola by 7.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 5,581,708 shares of the company’s stock valued at $328,930,000 after buying an additional 410,500 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on KO shares. BNP Paribas began coverage on Coca-Cola in a research note on Monday, June 24th. They issued an “outperform” rating and a $72.00 price target for the company. Truist Financial boosted their target price on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Royal Bank of Canada boosted their price target on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Finally, Citigroup boosted their target price on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $71.07.

Coca-Cola Stock Performance

NYSE:KO opened at $71.01 on Thursday. 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 fifty-two week low of $51.55 and a fifty-two week high of $73.53. The business has a 50 day moving average price of $70.20 and a 200-day moving average price of $64.98. The firm has a market cap of $305.91 billion, a PE ratio of 28.40, a price-to-earnings-growth ratio of 3.97 and a beta of 0.60.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. The firm had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the company earned $0.78 EPS. Equities research analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were paid a $0.485 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.94 annualized dividend and a yield of 2.73%. Coca-Cola’s payout ratio is 77.60%.

Insiders Place Their Bets

In other Coca-Cola news, major shareholder Cola Co Coca sold 598,619 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the completion of the transaction, the insider now owns 1,883,546 shares of the company’s stock, valued at $1,742,280,050. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Cola Co Coca sold 598,619 shares of the firm’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the completion of the transaction, the insider now directly owns 1,883,546 shares in the company, valued at $1,742,280,050. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $15,968,095. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 974,715 shares of company stock worth $579,704,927. 0.97% of the stock is owned by corporate insiders.

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.