Stock Yards Bank & Trust Co. Trims Stock Position in The Coca-Cola Company (NYSE:KO)

Stock Yards Bank & Trust Co. decreased its holdings in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 4.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 245,553 shares of the company's stock after selling 10,821 shares during the period. Stock Yards Bank & Trust Co.'s holdings in Coca-Cola were worth $17,645,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on KO. Morgan Stanley lowered their price objective on shares of Coca-Cola from $78.00 to $76.00 and set an "overweight" rating on the stock in a report on Thursday, October 24th. Barclays dropped their price target on shares of Coca-Cola from $74.00 to $73.00 and set an "overweight" rating on the stock in a research report on Friday, October 25th. Wells Fargo & Company decreased their price objective on Coca-Cola from $78.00 to $75.00 and set an "overweight" rating for the company in a report on Monday, December 2nd. Cfra restated a "hold" rating on shares of Coca-Cola in a report on Thursday, September 5th. Finally, Hsbc Global Res upgraded Coca-Cola to a "strong-buy" rating in a report on Friday, September 27th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Coca-Cola presently has a consensus rating of "Moderate Buy" and a consensus price target of $72.50.

Insider Buying and Selling

In related news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the completion of the transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.97% of the stock is currently owned by insiders.

Coca-Cola Stock Performance

KO traded up $1.20 during trading on Thursday, hitting $63.84. 17,417,506 shares of the company traded hands, compared to its average volume of 13,849,868. The firm has a market cap of $275.01 billion, a P/E ratio of 26.33, a price-to-earnings-growth 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. The Coca-Cola Company has a one year low of $57.47 and a one year high of $73.53. The stock's fifty day moving average is $65.68 and its 200 day moving average is $66.59.

Coca-Cola (NYSE:KO - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $11.61 billion. During the same quarter last year, the business posted $0.74 EPS. Coca-Cola's quarterly revenue was down .8% compared to the same quarter last year. As a group, equities analysts predict that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 annualized dividend and a dividend yield of 3.04%. Coca-Cola's payout ratio is 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.