Massmutual Trust Co. FSB ADV Acquires 11,003 Shares of The Coca-Cola Company (NYSE:KO)

Massmutual Trust Co. FSB ADV raised its holdings in shares of The Coca-Cola Company (NYSE:KO) by 6.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 174,199 shares of the company’s stock after purchasing an additional 11,003 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Coca-Cola were worth $12,518,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. New Millennium Group LLC bought a new position in shares of Coca-Cola in the 2nd quarter worth approximately $26,000. Quarry LP purchased a new stake in shares of Coca-Cola in the 2nd quarter worth approximately $27,000. ESL Trust Services LLC purchased a new stake in shares of Coca-Cola in the 1st quarter worth approximately $28,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Coca-Cola in the 1st quarter worth approximately $28,000. Finally, DiNuzzo Private Wealth Inc. grew its stake in shares of Coca-Cola by 65.0% in the 1st quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock worth $32,000 after buying an additional 206 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on KO. StockNews.com downgraded Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Deutsche Bank Aktiengesellschaft upped their price target on Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. BNP Paribas started coverage on Coca-Cola in a research note on Monday, June 24th. They issued an “outperform” rating and a $72.00 price target on the stock. Barclays increased their target price on Coca-Cola from $69.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Finally, Bank of America increased their target price on Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus price target of $71.07.

Coca-Cola Price Performance

Shares of Coca-Cola stock opened at $71.01 on Thursday. The Coca-Cola Company has a one year low of $51.55 and a one year high of $73.53. The stock’s fifty day moving average is $70.20 and its 200 day moving average is $64.98. The stock has a market cap of $305.91 billion, a P/E ratio of 28.40, a P/E/G ratio of 3.97 and a beta of 0.60. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08.

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

Coca-Cola Dividend Announcement

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

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 19,304 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $64.96, for a total transaction of $1,253,987.84. Following the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $14,507,516.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, major shareholder Cola Co Coca sold 598,619 shares of the firm’s stock in a transaction dated 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 owns 1,883,546 shares in the company, valued at $1,742,280,050. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Nancy Quan sold 19,304 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $64.96, for a total value of $1,253,987.84. Following the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $14,507,516.80. The disclosure for this sale can be found here. Insiders have sold a total of 974,715 shares of company stock valued at $579,704,927 over the last ninety days. 0.97% of the stock is currently owned by company insiders.

About Coca-Cola

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.