First Citizens Bank & Trust Co. trimmed its holdings in shares of The Coca-Cola Co (NYSE:KO) by 12.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 34,679 shares of the company’s stock after selling 4,720 shares during the period. First Citizens Bank & Trust Co.’s holdings in The Coca-Cola were worth $1,602,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Clarus Wealth Advisors purchased a new stake in shares of The Coca-Cola in the 2nd quarter valued at approximately $101,000. WP Advisors LLC purchased a new stake in shares of The Coca-Cola in the 2nd quarter valued at approximately $107,000. Signature Estate & Investment Advisors LLC purchased a new stake in shares of The Coca-Cola in the 2nd quarter valued at approximately $116,000. Fort L.P. purchased a new stake in shares of The Coca-Cola in the 2nd quarter valued at approximately $122,000. Finally, BDO Wealth Advisors LLC lifted its position in shares of The Coca-Cola by 104.9% in the 2nd quarter. BDO Wealth Advisors LLC now owns 3,163 shares of the company’s stock valued at $139,000 after acquiring an additional 1,619 shares in the last quarter. Hedge funds and other institutional investors own 65.38% of the company’s stock.
In related news, VP Kathy N. Waller sold 48,354 shares of the firm’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $46.45, for a total value of $2,246,043.30. Following the transaction, the vice president now directly owns 200,725 shares in the company, valued at approximately $9,323,676.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Murphy sold 111,468 shares of the firm’s stock in a transaction on Thursday, August 2nd. The shares were sold at an average price of $46.46, for a total transaction of $5,178,803.28. Following the completion of the transaction, the insider now owns 196,337 shares in the company, valued at $9,121,817.02. The disclosure for this sale can be found here. Insiders have sold a total of 215,822 shares of company stock worth $10,027,727 in the last 90 days. 1.48% of the stock is owned by insiders.
The Coca-Cola (NYSE:KO) last released its quarterly earnings results on Wednesday, July 25th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The business had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.54 billion. The Coca-Cola had a net margin of 7.18% and a return on equity of 40.68%. The Coca-Cola’s revenue for the quarter was down 8.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.59 EPS. On average, research analysts expect that The Coca-Cola Co will post 2.07 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be issued a dividend of $0.39 per share. The ex-dividend date is Thursday, November 29th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.37%. The Coca-Cola’s dividend payout ratio is currently 81.68%.
KO has been the subject of several research analyst reports. JPMorgan Chase & Co. restated a “$45.12” rating and issued a $49.00 price target on shares of The Coca-Cola in a research report on Wednesday, July 18th. TheStreet upgraded shares of The Coca-Cola from a “c+” rating to a “b-” rating in a research report on Tuesday, July 17th. SunTrust Banks increased their target price on shares of The Coca-Cola to $55.00 and gave the stock a “buy” rating in a research report on Thursday, July 26th. Royal Bank of Canada set a $56.00 target price on shares of The Coca-Cola and gave the stock a “buy” rating in a research report on Wednesday, July 25th. Finally, Morningstar set a $49.00 target price on shares of The Coca-Cola and gave the stock a “buy” rating in a research report on Wednesday, August 8th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $50.74.
About The Coca-Cola
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides water, enhanced water, and sports drinks; juices; juice, dairy, and plant?based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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