First American Trust FSB Sells 109,019 Shares of The Coca-Cola Company (NYSE:KO)

First American Trust FSB lowered its position in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 69.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 47,640 shares of the company's stock after selling 109,019 shares during the period. First American Trust FSB's holdings in Coca-Cola were worth $2,966,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. FMR LLC increased its stake in shares of Coca-Cola by 13.7% in the third quarter. FMR LLC now owns 92,961,376 shares of the company's stock valued at $6,680,205,000 after buying an additional 11,206,995 shares during the period. Geode Capital Management LLC boosted its holdings in Coca-Cola by 3.3% in the third quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company's stock valued at $6,664,005,000 after acquiring an additional 2,966,964 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Coca-Cola by 18.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company's stock worth $4,617,400,000 after purchasing an additional 11,569,920 shares during the last quarter. Wellington Management Group LLP raised its stake in Coca-Cola by 14.5% during the third quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company's stock worth $2,271,885,000 after buying an additional 4,013,996 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Coca-Cola by 6.1% in the 3rd quarter. Franklin Resources Inc. now owns 27,984,953 shares of the company's stock worth $1,990,407,000 after acquiring an additional 1,609,565 shares in the last quarter. Institutional investors own 70.26% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on KO. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a "hold" rating to a "buy" rating and lifted their target price for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. TD Cowen raised shares of Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 target price on the stock in a research note on Wednesday, January 8th. Morgan Stanley upped their price objective on shares of Coca-Cola from $76.00 to $78.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. dropped their price target on Coca-Cola from $75.00 to $70.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 28th. Finally, Piper Sandler raised their price objective on Coca-Cola from $73.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $74.24.

Insider Transactions at Coca-Cola

In other Coca-Cola news, insider Nikolaos Koumettis sold 55,500 shares of the firm's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $71.01, for a total value of $3,941,055.00. Following the completion of the sale, the insider now directly owns 246,909 shares of the company's stock, valued at $17,533,008.09. This trade represents a 18.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Henrique Braun sold 25,277 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $71.47, for a total transaction of $1,806,547.19. Following the sale, the chief operating officer now directly owns 52,466 shares in the company, valued at approximately $3,749,745.02. This trade represents a 32.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 313,423 shares of company stock worth $22,263,071 in the last ninety days. Company insiders own 0.97% of the company's stock.

Coca-Cola Stock Up 0.6 %

KO stock traded up $0.42 during trading on Friday, reaching $71.16. The stock had a trading volume of 3,377,751 shares, compared to its average volume of 14,026,371. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The company has a market capitalization of $306.23 billion, a price-to-earnings ratio of 28.81, a P/E/G ratio of 3.79 and a beta of 0.57. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53. The company's 50 day moving average is $67.62 and its two-hundred day moving average is $66.46.

Coca-Cola (NYSE:KO - Get Free Report) last released its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. Equities research analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.87%. This is a boost from Coca-Cola's previous quarterly dividend of $0.49. The ex-dividend date is Friday, March 14th. Coca-Cola's payout ratio is presently 82.59%.

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.