Canandaigua National Trust Co of Florida Has $389,000 Position in The Coca-Cola Company (NYSE:KO)

Canandaigua National Trust Co of Florida boosted its stake in shares of The Coca-Cola Company (NYSE:KO) by 34.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,244 shares of the company’s stock after acquiring an additional 1,600 shares during the quarter. Canandaigua National Trust Co of Florida’s holdings in Coca-Cola were worth $389,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Harvest Portfolios Group Inc. bought a new stake in shares of Coca-Cola during the 3rd quarter valued at $18,383,000. Balentine LLC increased its position in shares of Coca-Cola by 92.4% during the third quarter. Balentine LLC now owns 28,493 shares of the company’s stock worth $2,048,000 after acquiring an additional 13,685 shares in the last quarter. Sheaff Brock Investment Advisors LLC raised its stake in shares of Coca-Cola by 104.9% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock valued at $8,351,000 after purchasing an additional 59,503 shares during the period. CIBC Asset Management Inc boosted its position in Coca-Cola by 5.8% during the 3rd quarter. CIBC Asset Management Inc now owns 850,802 shares of the company’s stock worth $61,122,000 after acquiring an additional 46,541 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its position in Coca-Cola by 4.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 457,782 shares of the company’s stock worth $32,895,000 after buying an additional 21,005 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

KO has been the topic of several analyst reports. Truist Financial upped their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Morgan Stanley reduced their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Barclays lowered their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Wells Fargo & Company cut their price objective on shares of Coca-Cola from $78.00 to $75.00 and set an “overweight” rating for the company in a research report on Monday, December 2nd. Finally, Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and raised their target price for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $72.50.

Coca-Cola Price Performance

Shares of KO stock traded down $1.04 during trading hours on Monday, hitting $60.71. 17,832,697 shares of the company’s stock were exchanged, compared to its average volume of 12,420,105. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. The company has a market capitalization of $261.53 billion, a PE ratio of 25.09, a PEG ratio of 3.83 and a beta of 0.61. The business’s 50 day simple moving average is $63.37 and its 200-day simple moving average is $66.58. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

Coca-Cola (NYSE:KO) last posted its quarterly 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 business had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. During the same period in the previous year, the firm posted $0.74 earnings per share. The firm’s revenue for the quarter was down .8% on a year-over-year basis. On average, equities research analysts anticipate 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 Monday, December 16th. Investors of record on Friday, November 29th were issued a dividend of $0.485 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a yield of 3.20%. Coca-Cola’s dividend payout ratio is currently 80.17%.

Insider Buying and Selling at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the firm’s 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 completion of the sale, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.97% of the stock is currently owned by corporate insiders.

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.