Trust Co of the South Increases Position in The Coca-Cola Company (NYSE:KO)

Trust Co of the South boosted its stake in The Coca-Cola Company (NYSE:KO) by 60.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 6,285 shares of the company’s stock after purchasing an additional 2,378 shares during the period. Trust Co of the South’s holdings in Coca-Cola were worth $452,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in KO. New Millennium Group LLC acquired a new stake in shares of Coca-Cola in the 2nd quarter worth $26,000. Quarry LP acquired a new stake in Coca-Cola in the second quarter valued at about $27,000. Redmont Wealth Advisors LLC purchased a new stake in Coca-Cola in the 1st quarter valued at approximately $28,000. ESL Trust Services LLC acquired a new position in Coca-Cola during the 1st quarter worth approximately $28,000. Finally, DiNuzzo Private Wealth Inc. raised its stake in shares of Coca-Cola by 65.0% during 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 in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on KO shares. StockNews.com downgraded Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Cfra restated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Barclays upped their price target on shares of Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Citigroup raised their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $71.07.

Insider Transactions at Coca-Cola

In other Coca-Cola news, insider Bruno Pietracci sold 38,653 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $69.01, for a total value of $2,667,443.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Coca-Cola news, insider Bruno Pietracci sold 38,653 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $69.01, for a total value of $2,667,443.53. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Nancy Quan sold 18,484 shares of Coca-Cola stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. The disclosure for this sale can be found here. Insiders sold a total of 974,715 shares of company stock worth $579,704,927 over the last ninety days. 0.97% of the stock is currently owned by corporate insiders.

Coca-Cola Trading Down 1.0 %

Shares of KO opened at $71.01 on Thursday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $73.53. The stock has a market cap of $305.91 billion, a price-to-earnings ratio of 28.40, a price-to-earnings-growth ratio of 3.97 and a beta of 0.60. The firm has a 50 day simple moving average of $70.20 and a 200-day simple moving average of $64.98.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data 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 business 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 business’s revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.78 earnings per share. Equities analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

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

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.