Indiana Trust & Investment Management Co Decreases Stock Position in The Coca-Cola Company (NYSE:KO)

Indiana Trust & Investment Management Co trimmed its position in shares of The Coca-Cola Company (NYSE:KO) by 7.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,136 shares of the company’s stock after selling 313 shares during the period. Indiana Trust & Investment Management Co’s holdings in Coca-Cola were worth $297,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in KO. Cullen Investment Group LTD. raised its holdings in Coca-Cola by 2.2% in the first quarter. Cullen Investment Group LTD. now owns 16,747 shares of the company’s stock valued at $1,007,000 after acquiring an additional 360 shares in the last quarter. Ferguson Wellman Capital Management Inc. raised its stake in shares of Coca-Cola by 0.9% in the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 28,420 shares of the company’s stock valued at $1,739,000 after purchasing an additional 256 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its stake in Coca-Cola by 1.9% in the first quarter. Massmutual Trust Co. FSB ADV now owns 155,697 shares of the company’s stock worth $9,526,000 after purchasing an additional 2,902 shares in the last quarter. Foster Group Inc. bought a new stake in Coca-Cola in the first quarter valued at about $269,000. Finally, Collective Family Office LLC acquired a new stake in Coca-Cola during the first quarter valued at approximately $210,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Transactions at Coca-Cola

In other news, CEO James Quincey sold 102,533 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the sale, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at $30,987,070.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Bruno Pietracci sold 38,653 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total value of $2,667,443.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James Quincey sold 102,533 shares of Coca-Cola stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the transaction, the chief executive officer now owns 442,546 shares in the company, valued at approximately $30,987,070.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 356,792 shares of company stock valued at $24,728,364 in the last quarter. Insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

Shares of NYSE:KO traded up $0.23 during trading on Wednesday, reaching $70.57. The company had a trading volume of 3,079,236 shares, compared to its average volume of 13,124,136. The firm’s fifty day moving average is $70.60 and its 200 day moving average is $65.59. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08. The firm has a market capitalization of $304.01 billion, a PE ratio of 28.20, a price-to-earnings-growth ratio of 3.92 and a beta of 0.60. The Coca-Cola Company has a twelve month low of $53.21 and a twelve month high of $73.53.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.03. The company had revenue of $12.40 billion for the quarter, compared to analysts’ expectations of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period last year, the firm earned $0.78 EPS. On average, equities analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a dividend of $0.485 per share. The ex-dividend date was Friday, September 13th. This represents a $1.94 annualized dividend and a dividend yield of 2.75%. Coca-Cola’s dividend payout ratio (DPR) is 77.60%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on KO shares. Cfra reiterated a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. TD Cowen boosted their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Finally, Wells Fargo & Company upped their target price on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and a consensus target price of $72.00.

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.