Cape Cod Five Cents Savings Bank Cuts Stock Position in The Coca-Cola Company (NYSE:KO)

Cape Cod Five Cents Savings Bank lessened its holdings in The Coca-Cola Company (NYSE:KO) by 15.2% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 8,212 shares of the company’s stock after selling 1,475 shares during the period. Cape Cod Five Cents Savings Bank’s holdings in Coca-Cola were worth $590,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of KO. New Millennium Group LLC purchased a new stake in Coca-Cola in the 2nd quarter worth $26,000. Quarry LP purchased a new position in shares of Coca-Cola during the second quarter valued at about $27,000. Hara Capital LLC purchased a new position in shares of Coca-Cola during the third quarter valued at about $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Coca-Cola during the third quarter valued at about $36,000. Finally, Mount Lucas Management LP purchased a new position in shares of Coca-Cola during the second quarter valued at about $38,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on KO. Cfra restated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Morgan Stanley dropped their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Wells Fargo & Company dropped their price target on Coca-Cola from $78.00 to $75.00 and set an “overweight” rating for the company in a research report on Monday, December 2nd. Truist Financial lifted their price target on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, Barclays dropped their price target on 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 equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and a consensus target price of $72.14.

Coca-Cola Stock Performance

Coca-Cola stock opened at $62.63 on Tuesday. The company has a 50 day moving average price of $66.03 and a 200-day moving average price of $66.61. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The Coca-Cola Company has a fifty-two week low of $57.47 and a fifty-two week high of $73.53. The company has a market capitalization of $269.80 billion, a PE ratio of 25.88, a P/E/G ratio of 3.80 and a beta of 0.61.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating 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 firm had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter in the previous year, the firm posted $0.74 earnings per share. The company’s revenue was down .8% on a year-over-year basis. As a group, equities analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The business 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. This represents a $1.94 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio is presently 80.17%.

Insider Activity

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 transaction of $6,403,000.00. Following the transaction, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.97% of the company’s stock.

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.