First Bancorp Inc ME Buys 1,677 Shares of The Coca-Cola Company (NYSE:KO)

First Bancorp Inc ME lifted its stake in shares of The Coca-Cola Company (NYSE:KO) by 23.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,801 shares of the company’s stock after purchasing an additional 1,677 shares during the quarter. First Bancorp Inc ME’s holdings in Coca-Cola were worth $632,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. New Millennium Group LLC bought a new stake in shares of Coca-Cola during the second quarter worth about $26,000. Quarry LP bought a new stake in Coca-Cola during the 2nd quarter worth approximately $27,000. Redmont Wealth Advisors LLC acquired a new position in Coca-Cola in the 1st quarter valued at approximately $28,000. ESL Trust Services LLC bought a new position in shares of Coca-Cola during the first quarter valued at $28,000. Finally, DiNuzzo Private Wealth Inc. lifted its holdings in shares of Coca-Cola by 65.0% during the first 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 institutional investors and hedge funds.

Coca-Cola Stock Up 0.8 %

KO stock traded up $0.54 during trading on Friday, reaching $70.44. 15,087,519 shares of the stock were exchanged, compared to its average volume of 13,165,565. The firm’s 50 day moving average is $70.70 and its 200 day moving average is $65.72. The firm has a market cap of $303.45 billion, a P/E ratio of 28.18, a price-to-earnings-growth ratio of 3.92 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. The Coca-Cola Company has a twelve month low of $53.86 and a twelve month high of $73.53.

Coca-Cola (NYSE:KO) last issued its 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 analysts’ expectations of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. Coca-Cola’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the business earned $0.78 EPS. As a group, research analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.485 per share. The ex-dividend date is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a yield of 2.75%. Coca-Cola’s dividend payout ratio (DPR) is currently 77.60%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Barclays increased their price objective on Coca-Cola from $70.00 to $74.00 and gave the company an “overweight” rating in a report on Friday, October 11th. JPMorgan Chase & Co. increased their price target on Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft lifted their price objective on Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Finally, Bank of America upped their price objective on shares of Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Five equities research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $72.00.

Insiders Place Their Bets

In other Coca-Cola news, EVP Nancy Quan sold 18,482 shares of Coca-Cola stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $68.95, for a total transaction of $1,274,333.90. Following the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $15,398,603.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO James Quincey sold 102,533 shares of the 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 completion of the transaction, the chief executive officer now owns 442,546 shares in the company, valued at approximately $30,987,070.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Nancy Quan sold 18,482 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $68.95, for a total transaction of $1,274,333.90. Following the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $15,398,603.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 356,792 shares of company stock valued at $24,728,364. Corporate insiders own 0.97% of the company’s stock.

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.