Trustmark National Bank Trust Department Sells 1,065 Shares of The Coca-Cola Company (NYSE:KO)

Trustmark National Bank Trust Department lessened its stake in The Coca-Cola Company (NYSE:KO) by 1.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 85,436 shares of the company’s stock after selling 1,065 shares during the period. Trustmark National Bank Trust Department’s holdings in Coca-Cola were worth $6,139,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. New Millennium Group LLC acquired a new position in shares of Coca-Cola in the second quarter valued at $26,000. Quarry LP bought a new stake in Coca-Cola in the 2nd quarter valued at $27,000. Hara Capital LLC acquired a new position in shares of Coca-Cola in the 3rd quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Coca-Cola during the 3rd quarter worth about $36,000. Finally, Mount Lucas Management LP acquired a new stake in shares of Coca-Cola during the 2nd quarter valued at about $38,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Price Performance

Shares of KO stock opened at $63.01 on Thursday. The stock has a 50-day moving average price of $68.09 and a 200 day moving average price of $66.52. The Coca-Cola Company has a 12 month low of $57.33 and a 12 month high of $73.53. The firm has a market cap of $271.43 billion, a price-to-earnings ratio of 26.04, a PEG ratio of 3.80 and a beta of 0.61. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53.

Coca-Cola (NYSE:KO) last posted its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The company had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. During the same period last year, the business posted $0.74 earnings per share. The business’s revenue for the quarter was down .8% compared to the same quarter last year. Research analysts expect that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s payout ratio is presently 80.17%.

Insider Buying and Selling

In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following 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 7.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the transaction, the chief executive officer now owns 342,546 shares in the company, valued at $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 160,881 shares of company stock worth $10,693,244. 0.97% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on KO shares. Wells Fargo & Company increased their price target on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Citigroup raised their target price on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Barclays lowered their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Finally, TD Cowen increased their target price 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. Four equities research 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $72.36.

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.