Legacy Private Trust Co. Has $869,000 Stake in The Coca-Cola Company (NYSE:KO)

Legacy Private Trust Co. trimmed its holdings in shares of The Coca-Cola Company (NYSE:KO) by 9.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,136 shares of the company’s stock after selling 1,281 shares during the period. Legacy Private Trust Co.’s holdings in Coca-Cola were worth $869,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Tallon Kerry Patrick acquired a new stake in shares of Coca-Cola in the 4th quarter valued at $241,000. Brighton Jones LLC increased its stake in shares of Coca-Cola by 13.3% in the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock valued at $2,433,000 after buying an additional 4,591 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in shares of Coca-Cola in the 4th quarter valued at $24,472,000. Revolve Wealth Partners LLC increased its stake in shares of Coca-Cola by 3.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock valued at $548,000 after buying an additional 293 shares during the period. Finally, OLD National Bancorp IN increased its stake in shares of Coca-Cola by 3.9% in the 4th quarter. OLD National Bancorp IN now owns 60,312 shares of the company’s stock valued at $3,755,000 after buying an additional 2,276 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 other news, insider Nikolaos Koumettis sold 55,500 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $71.01, for a total transaction of $3,941,055.00. Following the completion of the transaction, the insider now directly owns 246,909 shares of the company’s stock, valued at $17,533,008.09. This trade represents a 18.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Beatriz R. Perez sold 60,326 shares of the business’s stock in a transaction on Thursday, May 8th. The stock was 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. This represents a 24.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 229,761 shares of company stock valued at $16,474,587 in the last 90 days. 0.97% of the stock is currently owned by company insiders.

Coca-Cola Stock Performance

Shares of KO stock opened at $72.13 on Friday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The Coca-Cola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The company’s 50 day moving average price is $71.35 and its two-hundred day moving average price is $67.26. The company has a market capitalization of $310.47 billion, a P/E ratio of 29.20, a price-to-earnings-growth ratio of 3.79 and a beta of 0.47.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.02. The company had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.23 billion. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The firm’s revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.72 earnings per share. On average, analysts expect that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola’s dividend payout ratio is 81.60%.

Analyst Ratings Changes

KO has been the subject of several research reports. Royal Bank of Canada lifted their target price on Coca-Cola from $73.00 to $76.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. Evercore ISI lifted their target price on Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. UBS Group lifted their target price on Coca-Cola from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, April 30th. Cfra Research raised Coca-Cola to a “strong-buy” rating in a research note on Tuesday, April 15th. Finally, Piper Sandler raised their price target on Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $75.81.

Coca-Cola Company 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.