The Coca-Cola Company (NYSE:KO) Shares Sold by American National Bank & Trust

American National Bank & Trust reduced its position in shares of The Coca-Cola Company (NYSE:KO) by 7.9% during the third quarter, HoldingsChannel reports. The firm owned 19,050 shares of the company’s stock after selling 1,628 shares during the quarter. American National Bank & Trust’s holdings in Coca-Cola were worth $1,369,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its stake in Coca-Cola by 21.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock valued at $3,016,023,000 after purchasing an additional 8,733,326 shares in the last quarter. Legal & General Group Plc raised its position in shares of Coca-Cola by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 38,701,876 shares of the company’s stock valued at $2,463,373,000 after purchasing an additional 1,084,475 shares in the last quarter. Truist Financial Corp boosted its stake in shares of Coca-Cola by 1.1% during the 2nd quarter. Truist Financial Corp now owns 16,362,598 shares of the company’s stock valued at $1,041,479,000 after buying an additional 177,241 shares during the last quarter. Vontobel Asset Management Inc. grew its position in shares of Coca-Cola by 2.7% during the fourth quarter. Vontobel Asset Management Inc. now owns 14,337,691 shares of the company’s stock worth $890,866,000 after buying an additional 378,447 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Coca-Cola by 30.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,698,984 shares of the company’s stock worth $776,924,000 after buying an additional 2,964,850 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Trading Down 1.0 %

Shares of NYSE KO opened at $71.01 on Thursday. The Coca-Cola Company has a 12-month low of $51.55 and a 12-month high of $73.53. The company 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 company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The stock’s 50 day simple moving average is $70.20 and its 200 day simple moving average is $64.98.

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

Coca-Cola Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on KO shares. Royal Bank of Canada increased their price objective on shares of Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Morgan Stanley upped their target price on shares of Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a research note on Tuesday, August 27th. Barclays lifted their price target on Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. BNP Paribas began coverage on Coca-Cola in a research note on Monday, June 24th. They set an “outperform” rating and a $72.00 price objective on the stock. Finally, Citigroup increased 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 analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.07.

Insiders Place Their Bets

In other news, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola stock in a transaction that occurred 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 sale, the insider now owns 1,883,546 shares of the company’s stock, valued at $1,742,280,050. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Nancy Quan sold 19,304 shares of the 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 completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $14,507,516.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Cola Co Coca sold 598,619 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The disclosure for this sale can be found here. In the last 90 days, insiders sold 974,715 shares of company stock worth $579,704,927. 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.