Northwest Bancshares Inc. Has $7.21 Million Stock Holdings in The Coca-Cola Company (NYSE:KO)

Northwest Bancshares Inc. trimmed its position in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 14.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 100,265 shares of the company's stock after selling 17,138 shares during the quarter. Coca-Cola accounts for approximately 1.2% of Northwest Bancshares Inc.'s investment portfolio, making the stock its 14th biggest position. Northwest Bancshares Inc.'s holdings in Coca-Cola were worth $7,205,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of KO. Harvest Portfolios Group Inc. purchased a new stake in Coca-Cola during the 3rd quarter valued at approximately $18,383,000. Balentine LLC lifted its holdings in shares of Coca-Cola by 92.4% in the 3rd quarter. Balentine LLC now owns 28,493 shares of the company's stock valued at $2,048,000 after buying an additional 13,685 shares during the period. Sheaff Brock Investment Advisors LLC lifted its holdings in Coca-Cola by 104.9% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company's stock valued at $8,351,000 after acquiring an additional 59,503 shares during the period. CIBC Asset Management Inc increased its holdings in Coca-Cola by 5.8% in the third quarter. CIBC Asset Management Inc now owns 850,802 shares of the company's stock valued at $61,122,000 after buying an additional 46,541 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its position in shares of 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 valued at $32,895,000 after acquiring an additional 21,005 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Price Performance

KO stock traded up $0.19 on Wednesday, hitting $62.78. 6,892,474 shares of the company's stock traded hands, compared to its average volume of 13,361,083. The stock has a fifty day moving average of $68.25 and a 200-day moving average of $66.55. The stock has a market cap of $270.44 billion, a price-to-earnings ratio of 25.68, a P/E/G ratio of 3.75 and a beta of 0.61. The Coca-Cola Company has a 1-year low of $57.33 and a 1-year high of $73.53. 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 - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The firm had revenue of $11.85 billion during the quarter, compared to analysts' expectations of $11.61 billion. During the same quarter last year, the firm earned $0.74 earnings per share. The business's revenue for the quarter was down .8% on a year-over-year basis. On average, analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current fiscal 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 given a $0.485 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 3.09%. Coca-Cola's dividend payout ratio is 80.17%.

Insider Activity at Coca-Cola

In related news, EVP Nancy Quan sold 18,484 shares of the business's stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value 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. The trade was a 7.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO James Quincey sold 42,397 shares of the company's stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $70.02, for a total value of $2,968,637.94. Following the transaction, the chief executive officer now directly owns 442,546 shares of the company's stock, valued at approximately $30,987,070.92. This trade represents a 8.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 160,881 shares of company stock worth $10,693,244 over the last three months. Company insiders own 0.97% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Royal Bank of Canada lifted their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an "outperform" rating in a report on Wednesday, July 24th. TD Cowen lifted their target price on Coca-Cola from $65.00 to $70.00 and gave the company a "hold" rating in a report on Thursday, July 25th. Cfra reissued a "hold" rating on shares of Coca-Cola in a research report on Thursday, September 5th. Truist Financial raised their price objective on Coca-Cola from $70.00 to $80.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. Finally, Barclays dropped their target price on shares of Coca-Cola from $74.00 to $73.00 and set an "overweight" rating for the company in a research report on Friday, October 25th. Four 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, Coca-Cola has an average rating of "Moderate Buy" and an average target price of $72.36.

About Coca-Cola

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.