The Coca-Cola Company (NYSE:KO) Shares Sold by Old North State Trust LLC

Old North State Trust LLC reduced its position in shares of The Coca-Cola Company (NYSE:KO) by 1.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,306 shares of the company’s stock after selling 300 shares during the period. Old North State Trust LLC’s holdings in Coca-Cola were worth $1,140,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in KO. Crowley Wealth Management Inc. purchased a new stake in shares of Coca-Cola in the 4th quarter valued at about $27,000. Mainstream Capital Management LLC purchased a new position in shares of Coca-Cola during the 4th quarter worth approximately $31,000. REAP Financial Group LLC lifted its holdings in Coca-Cola by 57.5% in the fourth quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock valued at $35,000 after acquiring an additional 208 shares during the period. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Coca-Cola in the fourth quarter valued at about $38,000. Finally, Hoey Investments Inc. grew its holdings in shares of Coca-Cola by 41.9% in the 4th quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock worth $38,000 after acquiring an additional 181 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Coca-Cola

In related news, insider Nikolaos Koumettis sold 55,500 shares of the company’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 transaction, the insider now directly owns 246,909 shares in the company, valued at approximately $17,533,008.09. This represents a 18.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Beatriz R. Perez sold 60,326 shares of the company’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the completion of the sale, the executive vice president now directly owns 187,716 shares in the company, valued at approximately $13,491,148.92. The trade was a 24.32% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 229,761 shares of company stock valued at $16,474,587. 0.97% of the stock is owned by corporate insiders.

Coca-Cola Stock Performance

Shares of NYSE KO opened at $71.73 on Wednesday. The stock has a market capitalization of $308.75 billion, a P/E ratio of 29.04, a P/E/G ratio of 3.79 and a beta of 0.47. The Coca-Cola Company has a 52-week low of $60.62 and a 52-week high of $74.38. 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 firm’s 50-day moving average price is $71.18 and its two-hundred day moving average price is $67.11.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The firm had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.23 billion. During the same period in the previous year, the business posted $0.72 EPS. Coca-Cola’s revenue was down .7% on a year-over-year basis. As a group, sell-side analysts forecast that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola’s dividend payout ratio is currently 81.60%.

Wall Street Analysts Forecast Growth

KO has been the topic of a number of research reports. Cfra Research raised shares of Coca-Cola to a “strong-buy” rating in a research note on Tuesday, April 15th. Wells Fargo & Company increased their target price on Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Piper Sandler boosted their target price on Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Barclays reiterated an “overweight” rating on shares of Coca-Cola in a research note on Thursday, March 27th. Finally, 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 research report on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Coca-Cola currently has a consensus rating of “Buy” and an average target price of $75.81.

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.