The Coca-Cola Company (NYSE:KO) is Capital City Trust Co. FL’s Largest Position

Capital City Trust Co. FL grew its holdings in shares of The Coca-Cola Company (NYSE:KO) by 0.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 649,058 shares of the company’s stock after acquiring an additional 655 shares during the quarter. Coca-Cola accounts for approximately 11.6% of Capital City Trust Co. FL’s holdings, making the stock its biggest holding. Capital City Trust Co. FL’s holdings in Coca-Cola were worth $46,641,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in KO. Strengthening Families & Communities LLC grew its stake in shares of Coca-Cola by 7.6% during the third quarter. Strengthening Families & Communities LLC now owns 35,210 shares of the company’s stock valued at $2,530,000 after buying an additional 2,499 shares during the last quarter. WP Advisors LLC purchased a new stake in Coca-Cola during the 3rd quarter valued at about $206,000. Holistic Financial Partners grew its position in Coca-Cola by 29.1% during the 3rd quarter. Holistic Financial Partners now owns 4,589 shares of the company’s stock worth $330,000 after acquiring an additional 1,035 shares during the last quarter. Braun Stacey Associates Inc. increased its stake in Coca-Cola by 411.6% in the 3rd quarter. Braun Stacey Associates Inc. now owns 313,440 shares of the company’s stock worth $22,524,000 after purchasing an additional 252,174 shares during the period. Finally, Richard C. Young & CO. LTD. lifted its position in Coca-Cola by 9.0% in the third quarter. Richard C. Young & CO. LTD. now owns 158,900 shares of the company’s stock valued at $11,419,000 after purchasing an additional 13,110 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the sale, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Lisa Chang sold 40,334 shares of Coca-Cola stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $69.54, for a total value of $2,804,826.36. Following the completion of the transaction, the executive vice president now directly owns 74,067 shares of the company’s stock, valued at approximately $5,150,619.18. This represents a 35.26 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 303,748 shares of company stock valued at $20,677,431. Corporate insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Wells Fargo & Company lifted their target price on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Truist Financial boosted their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Cfra reiterated a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Finally, Morgan Stanley dropped their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $72.36.

Coca-Cola Trading Down 1.3 %

NYSE KO opened at $61.74 on Monday. The firm has a market capitalization of $265.96 billion, a PE ratio of 25.51, a P/E/G ratio of 3.75 and a beta of 0.61. The stock’s 50 day moving average is $68.63 and its 200 day moving average is $66.54. The Coca-Cola Company has a twelve month low of $56.70 and a twelve month high of $73.53. 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 announced its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. The firm had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The company’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.74 EPS. Research analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

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.