The Coca-Cola Company (NYSE:KO) Shares Sold by Sanibel Captiva Trust Company Inc.

Sanibel Captiva Trust Company Inc. trimmed its stake in shares of The Coca-Cola Company (NYSE:KO) by 1.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,805 shares of the company’s stock after selling 800 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in Coca-Cola were worth $4,801,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its holdings in shares of Coca-Cola by 21.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock worth $3,016,023,000 after acquiring an additional 8,733,326 shares during the period. Legal & General Group Plc raised its position in shares of Coca-Cola by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 38,701,876 shares of the company’s stock worth $2,463,373,000 after buying an additional 1,084,475 shares during the period. Truist Financial Corp raised its position in shares of Coca-Cola by 1.1% in the 2nd quarter. Truist Financial Corp now owns 16,362,598 shares of the company’s stock worth $1,041,479,000 after buying an additional 177,241 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Coca-Cola by 30.5% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,698,984 shares of the company’s stock valued at $776,924,000 after purchasing an additional 2,964,850 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in Coca-Cola by 15.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 10,433,875 shares of the company’s stock valued at $638,344,000 after purchasing an additional 1,417,930 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Stock Performance

Shares of KO stock opened at $69.25 on Friday. The company has a market capitalization of $298.46 billion, a price-to-earnings ratio of 28.04, a PEG ratio of 3.92 and a beta of 0.60. 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 company has a 50-day simple moving average of $70.48 and a 200 day simple moving average of $65.30. The Coca-Cola Company has a 52 week low of $52.43 and a 52 week high of $73.53.

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

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued 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 (DPR) is presently 78.54%.

Insider Buying and Selling

In related news, insider Bruno Pietracci sold 38,653 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total transaction of $2,667,443.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Bruno Pietracci sold 38,653 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total transaction of $2,667,443.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $1,321,606.00. Following the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 376,096 shares of company stock worth $25,982,352 in the last three months. 0.97% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on KO. Citigroup raised their target price on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Morgan Stanley lifted their price target on Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, August 27th. BNP Paribas assumed coverage on Coca-Cola in a report on Monday, June 24th. They set an “outperform” rating and a $72.00 target price on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Finally, TD Cowen lifted their price target on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Five 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 stock. Based on data from MarketBeat.com, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus 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.