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

Rockland Trust Co. cut its position in shares of The Coca-Cola Company (NYSE:KO) by 2.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 205,334 shares of the company’s stock after selling 4,641 shares during the quarter. Rockland Trust Co.’s holdings in Coca-Cola were worth $14,755,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. New Millennium Group LLC purchased a new position in Coca-Cola in the second quarter valued at approximately $26,000. Quarry LP acquired a new stake in shares of Coca-Cola in the second quarter worth $27,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Coca-Cola in the first quarter worth $28,000. ESL Trust Services LLC acquired a new position in shares of Coca-Cola during the 1st quarter valued at $28,000. Finally, DiNuzzo Private Wealth Inc. boosted its position in 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 purchasing an additional 206 shares during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 223,330 shares in the company, valued at $15,968,095. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO James Quincey sold 42,397 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $70.02, for a total value of $2,968,637.94. 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction of $1,321,606.00. Following the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,968,095. The disclosure for this sale can be found here. Insiders sold 376,096 shares of company stock valued at $25,982,352 in the last ninety days. Company insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

Shares of KO opened at $70.50 on Friday. The stock has a market capitalization of $303.71 billion, a PE ratio of 28.20, a price-to-earnings-growth ratio of 3.97 and a beta of 0.60. The business’s fifty day moving average price is $70.29 and its 200 day moving average price is $65.02. 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 12-month low of $51.55 and a 12-month high of $73.53.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. The company 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%. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period last year, the firm posted $0.78 EPS. Equities research analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were given a $0.485 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.94 annualized dividend and a yield of 2.75%. Coca-Cola’s dividend payout ratio is presently 77.60%.

Analysts Set New Price Targets

Several research analysts have commented on the company. Wells Fargo & Company raised their price objective on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. 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 report on Wednesday, July 24th. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. StockNews.com lowered shares of Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Finally, Truist Financial boosted their price objective 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. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $71.07.

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.