First National Corp MA ADV Cuts Position in The Coca-Cola Company (NYSE:KO)

First National Corp MA ADV reduced its holdings in shares of The Coca-Cola Company (NYSE:KO) by 3.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,160 shares of the company’s stock after selling 270 shares during the quarter. First National Corp MA ADV’s holdings in Coca-Cola were worth $586,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in KO. MGO One Seven LLC grew its position in Coca-Cola by 19.2% in the fourth quarter. MGO One Seven LLC now owns 63,025 shares of the company’s stock valued at $3,714,000 after acquiring an additional 10,157 shares in the last quarter. Icon Wealth Advisors LLC acquired a new stake in Coca-Cola during the 4th quarter valued at $670,000. Jacobi Capital Management LLC increased its stake in Coca-Cola by 1.4% during the 4th quarter. Jacobi Capital Management LLC now owns 78,343 shares of the company’s stock worth $4,617,000 after buying an additional 1,116 shares during the period. Putnam Investments LLC lifted its holdings in Coca-Cola by 32.8% in the 4th quarter. Putnam Investments LLC now owns 12,032,095 shares of the company’s stock worth $709,051,000 after buying an additional 2,973,234 shares in the last quarter. Finally, Caxton Associates LP boosted its position in Coca-Cola by 3,032.9% in the 4th quarter. Caxton Associates LP now owns 217,581 shares of the company’s stock valued at $12,822,000 after buying an additional 210,636 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on KO. Royal Bank of Canada lifted their target price on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. StockNews.com cut Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Barclays upped their price target on shares of Coca-Cola from $69.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Citigroup increased 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, Truist Financial boosted their target price on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $71.07.

Coca-Cola Stock Performance

NYSE KO traded up $0.04 during trading hours on Wednesday, hitting $69.22. The company had a trading volume of 1,450,557 shares, compared to its average volume of 13,222,715. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The firm has a market cap of $298.20 billion, a P/E ratio of 27.66, a price-to-earnings-growth ratio of 3.97 and a beta of 0.60. The Coca-Cola Company has a fifty-two week low of $52.43 and a fifty-two week high of $73.53. The business has a fifty day simple moving average of $70.43 and a 200-day simple moving average of $65.27.

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 firm had revenue of $12.40 billion during the quarter, compared to analyst estimates 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 was up 3.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.78 EPS. Equities analysts predict that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were paid a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend was Friday, September 13th. Coca-Cola’s dividend payout ratio is currently 77.60%.

Insider Buying and Selling

In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Coca-Cola news, EVP Nancy Quan sold 37,787 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $66.96, for a total value of $2,530,217.52. Following the sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $14,954,176.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James Quincey sold 102,533 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 376,096 shares of company stock valued at $25,982,352 over the last 90 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.