First County Bank CT Trims Stake in The Coca-Cola Company (NYSE:KO)

First County Bank CT lessened its position in The Coca-Cola Company (NYSE:KO) by 18.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,053 shares of the company’s stock after selling 4,242 shares during the quarter. First County Bank CT’s holdings in Coca-Cola were worth $1,186,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in KO. Quarry LP purchased a new position in shares of Coca-Cola during the second quarter valued at approximately $27,000. Hara Capital LLC purchased a new position in Coca-Cola during the 3rd quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in Coca-Cola during the 3rd quarter valued at $36,000. Mount Lucas Management LP purchased a new stake in Coca-Cola in the second quarter worth $38,000. Finally, MidAtlantic Capital Management Inc. bought a new stake in shares of Coca-Cola during the third quarter worth $43,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Stock Performance

NYSE:KO remained flat at $60.81 during midday trading on Tuesday. 9,994,381 shares of the company were exchanged, compared to its average volume of 12,736,998. The firm has a 50-day moving average price of $63.25 and a 200-day moving average price of $66.57. 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 Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53. The company has a market cap of $261.96 billion, a PE ratio of 25.13, a PEG ratio of 3.83 and a beta of 0.61.

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

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were issued a $0.485 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.19%. Coca-Cola’s dividend payout ratio is currently 80.17%.

Insider Transactions at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the transaction, the chief executive officer now owns 342,546 shares in the company, valued at approximately $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 can be accessed through this link. Insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

KO has been the topic of a number of research analyst reports. Barclays cut their price target 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 upped their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Morgan Stanley decreased their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Piper Sandler started coverage on Coca-Cola in a research note on Tuesday. They issued an “overweight” rating and a $74.00 price objective on the stock. Finally, Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $72.27.

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.