The Coca-Cola Company (NYSE:KO) Shares Sold by Rockland Trust Co.

Rockland Trust Co. lowered its position in shares of The Coca-Cola Company (NYSE:KO) by 2.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 205,334 shares of the company’s stock after selling 4,641 shares during the period. Rockland Trust Co.’s holdings in Coca-Cola were worth $14,755,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Capital Research Global Investors grew its position in Coca-Cola by 4.3% in the fourth quarter. Capital Research Global Investors now owns 3,796,462 shares of the company’s stock worth $223,726,000 after buying an additional 156,071 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Coca-Cola by 7.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 5,581,708 shares of the company’s stock worth $328,930,000 after purchasing an additional 410,500 shares during the period. Cladis Investment Advisory LLC lifted its holdings in shares of Coca-Cola by 6.1% during the fourth quarter. Cladis Investment Advisory LLC now owns 9,310 shares of the company’s stock valued at $549,000 after purchasing an additional 532 shares during the last quarter. Schroder Investment Management Group boosted its position in shares of Coca-Cola by 37.5% in the 4th quarter. Schroder Investment Management Group now owns 8,205,606 shares of the company’s stock valued at $483,556,000 after purchasing an additional 2,237,721 shares during the period. Finally, Wealth Quarterback LLC increased its stake in Coca-Cola by 3.2% in the 4th quarter. Wealth Quarterback LLC now owns 17,454 shares of the company’s stock worth $1,029,000 after purchasing an additional 537 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $30,987,070.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. The transaction 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 the firm’s 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 directly owns 223,330 shares in the company, valued at $15,968,095. The disclosure for this sale can be found here. In the last quarter, insiders have sold 376,096 shares of company stock valued at $25,982,352. Insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

Shares of KO opened at $70.50 on Friday. 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 firm has a market cap of $303.71 billion, a PE ratio of 28.20, a PEG ratio of 3.97 and a beta of 0.60. The firm’s 50 day moving average price is $70.29 and its 200 day moving average price is $65.02. The Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $73.53.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 22.92% and a return on equity of 43.62%. Coca-Cola’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.78 EPS. As a group, research analysts expect that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders 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 2.75%. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Wall Street Analysts Forecast Growth

KO has been the subject of a number of analyst reports. Bank of America upped their price objective on shares of Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. TD Cowen raised their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. StockNews.com downgraded shares of Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. JPMorgan Chase & Co. raised their target price on Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Finally, Barclays upped their price target on Coca-Cola from $69.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Five investment 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, the company has a consensus rating of “Moderate Buy” and an average target price of $71.07.

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.