Greenfield Savings Bank Boosts Position in The Coca-Cola Company (NYSE:KO)

Greenfield Savings Bank boosted its position in shares of The Coca-Cola Company (NYSE:KO) by 15.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 18,517 shares of the company’s stock after purchasing an additional 2,443 shares during the quarter. Greenfield Savings Bank’s holdings in Coca-Cola were worth $1,331,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Connectus Wealth LLC increased its stake in Coca-Cola by 1.1% in the fourth quarter. Connectus Wealth LLC now owns 46,938 shares of the company’s stock valued at $2,766,000 after purchasing an additional 488 shares during the last quarter. XML Financial LLC lifted its holdings in Coca-Cola by 10.8% during the 4th quarter. XML Financial LLC now owns 23,837 shares of the company’s stock worth $1,405,000 after buying an additional 2,323 shares during the last quarter. Humankind Investments LLC increased its holdings in shares of Coca-Cola by 5.3% in the 4th quarter. Humankind Investments LLC now owns 5,329 shares of the company’s stock valued at $314,000 after acquiring an additional 266 shares during the last quarter. Unigestion Holding SA bought a new position in Coca-Cola in the fourth quarter worth about $24,851,000. Finally, Cresset Asset Management LLC lifted its holdings in Coca-Cola by 7.1% in the fourth quarter. Cresset Asset Management LLC now owns 479,853 shares of the company’s stock worth $28,278,000 after acquiring an additional 31,886 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KO has been the topic of a number of recent analyst reports. TD Cowen lifted their price target on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Cfra reissued a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Citigroup lifted their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Truist Financial raised their price target 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. Finally, Morgan Stanley raised their price target on shares of Coca-Cola from $70.00 to $78.00 and gave the stock an “overweight” rating in a report on Tuesday, August 27th. Five equities research 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $71.07.

Coca-Cola Trading Down 1.7 %

Shares of KO stock opened at $69.01 on Tuesday. The Coca-Cola Company has a 1 year low of $52.11 and a 1 year high of $73.53. The firm’s fifty day simple moving average is $70.35 and its 200 day simple moving average is $65.15. The firm has a market capitalization of $297.29 billion, a P/E ratio of 27.60, 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.

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

Coca-Cola Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors 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 yield of 2.81%. Coca-Cola’s dividend payout ratio (DPR) is 77.60%.

Insider Buying and Selling at Coca-Cola

In other news, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction dated 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 directly owns 223,330 shares of the company’s stock, valued at $15,968,095. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Nancy Quan sold 18,484 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the completion of the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James Quincey sold 42,397 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $70.02, for a total transaction of $2,968,637.94. Following the transaction, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at $30,987,070.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 376,096 shares of company stock worth $25,982,352. Company insiders own 0.97% of the company’s stock.

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.