Canandaigua National Bank & Trust Co. Grows Position in The Coca-Cola Company (NYSE:KO)

Canandaigua National Bank & Trust Co. increased its position in The Coca-Cola Company (NYSE:KO) by 0.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 86,762 shares of the company’s stock after purchasing an additional 731 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Coca-Cola were worth $6,235,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Czech National Bank boosted its position in shares of Coca-Cola by 6.9% in the 3rd quarter. Czech National Bank now owns 790,169 shares of the company’s stock worth $56,782,000 after purchasing an additional 51,339 shares in the last quarter. Central Pacific Bank Trust Division raised its stake in Coca-Cola by 11.7% during the third quarter. Central Pacific Bank Trust Division now owns 26,019 shares of the company’s stock valued at $1,870,000 after buying an additional 2,730 shares during the last quarter. Trust Co of the South boosted its holdings in Coca-Cola by 60.9% in the third quarter. Trust Co of the South now owns 6,285 shares of the company’s stock worth $452,000 after acquiring an additional 2,378 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its stake in shares of Coca-Cola by 6.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 174,199 shares of the company’s stock worth $12,518,000 after acquiring an additional 11,003 shares during the last quarter. Finally, Trust Co. of Toledo NA OH increased its holdings in shares of Coca-Cola by 0.3% during the third quarter. Trust Co. of Toledo NA OH now owns 92,628 shares of the company’s stock valued at $6,656,000 after acquiring an additional 257 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Activity at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the stock in a transaction on Tuesday, August 27th. The stock was 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 in the company, valued at approximately $15,968,095. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,968,095. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James Quincey sold 102,533 shares of Coca-Cola stock in a transaction that occurred 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 sale, the chief executive officer now owns 442,546 shares in the company, valued at approximately $30,987,070.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 376,096 shares of company stock worth $25,982,352. 0.97% of the stock is owned by corporate insiders.

Coca-Cola Trading Down 0.7 %

NYSE:KO opened at $70.50 on Friday. The Coca-Cola Company has a one year low of $51.55 and a one year high of $73.53. The business has a fifty day moving average price of $70.29 and a 200-day moving average price of $65.02. The firm has a market capitalization of $303.71 billion, a price-to-earnings ratio of 28.20, a price-to-earnings-growth ratio of 3.97 and a beta of 0.60. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.81 by $0.03. The firm 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 for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.78 earnings per share. Sell-side analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages recently commented on KO. 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 report on Wednesday, July 24th. Wells Fargo & Company raised their price target on shares of Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. StockNews.com cut Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Truist Financial lifted their target price on Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Finally, BNP Paribas initiated coverage on Coca-Cola in a report on Monday, June 24th. They set an “outperform” rating and a $72.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $71.07.

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.