Community Bank N.A. Has $7.26 Million Stock Position in The Coca-Cola Company (NYSE:KO)

Community Bank N.A. lowered its position in shares of The Coca-Cola Company (NYSE:KO) by 2.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 100,987 shares of the company’s stock after selling 2,070 shares during the quarter. Coca-Cola accounts for about 0.9% of Community Bank N.A.’s holdings, making the stock its 23rd largest position. Community Bank N.A.’s holdings in Coca-Cola were worth $7,257,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. New Millennium Group LLC purchased a new stake in shares of Coca-Cola in the second quarter worth approximately $26,000. Quarry LP purchased a new stake in Coca-Cola in the 2nd quarter worth approximately $27,000. Hara Capital LLC acquired a new stake in shares of Coca-Cola during the 3rd quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Coca-Cola in the third quarter worth $36,000. Finally, Mount Lucas Management LP purchased a new position in Coca-Cola in the second quarter valued at about $38,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Activity at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the transaction, the chief executive officer now owns 342,546 shares in the company, valued at $21,933,220.38. This represents a 22.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.97% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Barclays reduced their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Cfra reiterated a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Wells Fargo & Company boosted their price objective on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Finally, Morgan Stanley lowered their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and an average price target of $72.36.

Coca-Cola Stock Down 0.5 %

KO opened at $64.08 on Monday. The Coca-Cola Company has a fifty-two week low of $57.47 and a fifty-two week high of $73.53. The company has a market capitalization of $276.04 billion, a P/E ratio of 26.48, a P/E/G ratio of 3.89 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The firm’s fifty day moving average price is $67.07 and its two-hundred day moving average price is $66.61.

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

Coca-Cola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.03%. Coca-Cola’s payout ratio is presently 80.17%.

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.