WASHINGTON TRUST Co Sells 376 Shares of The Coca-Cola Company (NYSE:KO)

WASHINGTON TRUST Co reduced its holdings in The Coca-Cola Company (NYSE:KO) by 1.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 30,367 shares of the company’s stock after selling 376 shares during the quarter. WASHINGTON TRUST Co’s holdings in Coca-Cola were worth $2,182,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. State of Alaska Department of Revenue boosted its stake in Coca-Cola by 4.8% during the third quarter. State of Alaska Department of Revenue now owns 457,782 shares of the company’s stock worth $32,895,000 after acquiring an additional 21,005 shares in the last quarter. Swedbank AB bought a new position in shares of Coca-Cola during the 1st quarter worth about $102,604,000. BDF Gestion acquired a new stake in shares of Coca-Cola in the 2nd quarter valued at about $7,421,000. Nisa Investment Advisors LLC increased its position in Coca-Cola by 10.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,149,209 shares of the company’s stock valued at $83,151,000 after buying an additional 107,374 shares in the last quarter. Finally, Duality Advisers LP raised its stake in Coca-Cola by 191.1% during the 1st quarter. Duality Advisers LP now owns 111,851 shares of the company’s stock worth $6,843,000 after buying an additional 73,434 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, EVP Nancy Quan sold 18,482 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $68.95, for a total value of $1,274,333.90. Following the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,398,603.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Lisa Chang sold 58,122 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $68.51, for a total transaction of $3,981,938.22. Following the transaction, the executive vice president now owns 74,067 shares of the company’s stock, valued at approximately $5,074,330.17. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Nancy Quan sold 18,482 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $68.95, for a total value of $1,274,333.90. Following the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at $15,398,603.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 319,005 shares of company stock valued at $22,198,147 in the last three months. Company insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

Shares of KO traded up $0.65 during trading hours on Wednesday, hitting $66.21. The company’s stock had a trading volume of 3,929,418 shares, compared to its average volume of 13,211,100. The business has a 50 day simple moving average of $70.54 and a two-hundred day simple moving average of $66.22. The Coca-Cola Company has a 52-week low of $56.06 and a 52-week high of $73.53. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The company has a market cap of $285.23 billion, a price-to-earnings ratio of 26.39, a PEG ratio of 3.91 and a beta of 0.60.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The firm had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The business’s revenue for the quarter was down .8% on a year-over-year basis. During the same period last year, the company earned $0.74 earnings per share. On average, equities analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Wells Fargo & Company boosted their price objective on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, September 16th. JPMorgan Chase & Co. upped their price objective on shares of Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Barclays lowered their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Truist Financial boosted their price objective on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $71.80.

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.