Peapack Gladstone Financial Corp Trims Stock Holdings in The Coca-Cola Company (NYSE:KO)

Peapack Gladstone Financial Corp reduced its holdings in The Coca-Cola Company (NYSE:KO) by 1.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 263,190 shares of the company’s stock after selling 3,223 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Coca-Cola were worth $18,913,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. New Millennium Group LLC acquired a new stake in Coca-Cola during the second quarter worth about $26,000. Quarry LP acquired a new stake in Coca-Cola during the second quarter worth about $27,000. Hara Capital LLC acquired a new stake in Coca-Cola during the third quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Coca-Cola during the third quarter worth about $36,000. Finally, Mount Lucas Management LP acquired a new stake in Coca-Cola during the second quarter worth about $38,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.97% of the company’s stock.

Coca-Cola Trading Up 1.9 %

NYSE:KO opened at $63.84 on Friday. 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 business’s 50 day moving average is $65.55 and its two-hundred day moving average is $66.57. The Coca-Cola Company has a 52 week low of $57.47 and a 52 week high of $73.53. The company has a market cap of $275.01 billion, a PE ratio of 26.38, a P/E/G ratio of 3.81 and a beta of 0.61.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The business had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The business’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.74 EPS. On average, analysts predict that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

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 given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date is Friday, November 29th. Coca-Cola’s payout ratio is 80.17%.

Analysts Set New Price Targets

Several equities research analysts have commented on KO shares. Cfra restated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Wells Fargo & Company lowered their target price on Coca-Cola from $78.00 to $75.00 and set an “overweight” rating for the company in a research note on Monday, December 2nd. Barclays lowered their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Morgan Stanley lowered their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and increased their target price for the company from $68.00 to $70.00 in a research note on Thursday. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $72.50.

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.