Chemung Canal Trust Co. Has $7.61 Million Stock Holdings in CocaCola Company (The) (NYSE:KO)

Chemung Canal Trust Co. cut its position in shares of CocaCola Company (The) (NYSE:KO) by 0.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 106,304 shares of the company’s stock after selling 831 shares during the period. CocaCola accounts for 1.7% of Chemung Canal Trust Co.’s portfolio, making the stock its 20th largest holding. Chemung Canal Trust Co.’s holdings in CocaCola were worth $7,614,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. MorganRosel Wealth Management LLC acquired a new position in shares of CocaCola during the 1st quarter worth approximately $25,000. Crowley Wealth Management Inc. bought a new stake in shares of CocaCola during the 4th quarter worth approximately $27,000. Garde Capital Inc. bought a new position in CocaCola in the 1st quarter valued at approximately $30,000. Mizuho Securities Co. Ltd. raised its stake in CocaCola by 360.0% during the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company’s stock worth $33,000 after buying an additional 360 shares during the last quarter. Finally, REAP Financial Group LLC raised its stake in CocaCola by 57.5% during the fourth quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock worth $35,000 after buying an additional 208 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

CocaCola Trading Down 1.0%

NYSE:KO opened at $70.32 on Wednesday. The company has a current ratio of 1.10, a quick ratio of 0.89 and a debt-to-equity ratio of 1.57. The company has a 50-day moving average price of $71.02 and a 200-day moving average price of $68.71. The stock has a market cap of $302.68 billion, a price-to-earnings ratio of 28.13, a P/E/G ratio of 3.72 and a beta of 0.45. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38.

CocaCola (NYSE:KO) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. The business had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.23 billion. CocaCola had a net margin of 23.00% and a return on equity of 45.49%. CocaCola’s revenue was down .7% compared to the same quarter last year. During the same period last year, the business earned $0.72 EPS. Equities analysts predict that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a yield of 2.90%. CocaCola’s dividend payout ratio is currently 81.60%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Royal Bank Of Canada lifted their target price on shares of CocaCola from $73.00 to $76.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. JPMorgan Chase & Co. lifted their price target on CocaCola from $74.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, April 21st. Barclays reaffirmed an “overweight” rating on shares of CocaCola in a research report on Thursday, March 27th. UBS Group boosted their price target on shares of CocaCola from $84.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, April 30th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $81.00 price target on shares of CocaCola in a research note on Monday, June 9th. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, CocaCola has an average rating of “Buy” and an average target price of $76.27.

Insider Buying and Selling at CocaCola

In other news, CEO James Quincey sold 266,403 shares of the firm’s stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the sale, the chief executive officer owned 275,946 shares of the company’s stock, valued at $19,884,668.76. This trade represents a 49.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Beatriz R. Perez sold 60,326 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president directly owned 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 415,387 shares of company stock worth $29,923,985. 0.90% of the stock is owned by corporate insiders.

CocaCola 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.