Citizens & Northern Corp Sells 884 Shares of The Coca-Cola Company (NYSE:KO)

Citizens & Northern Corp cut its position in shares of The Coca-Cola Company (NYSE:KO) by 3.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,987 shares of the company’s stock after selling 884 shares during the period. Citizens & Northern Corp’s holdings in Coca-Cola were worth $1,399,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Tidemark LLC bought a new stake in shares of Coca-Cola in the fourth quarter valued at about $26,000. New Millennium Group LLC purchased a new position in Coca-Cola during the 2nd quarter valued at about $26,000. Private Wealth Management Group LLC bought a new stake in shares of Coca-Cola in the 4th quarter valued at about $27,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Coca-Cola in the 1st quarter worth approximately $28,000. Finally, ESL Trust Services LLC purchased a new stake in shares of Coca-Cola in the 1st quarter worth approximately $28,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on KO. TD Cowen upped their target price on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. BNP Paribas assumed coverage on Coca-Cola in a research note on Monday, June 24th. They set an “outperform” rating and a $72.00 price objective for the company. Truist Financial lifted their target price on Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Royal Bank of Canada increased their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Finally, Barclays lifted their price objective on shares of Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $70.73.

Insiders Place Their Bets

In other news, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Coca-Cola news, CEO James Quincey sold 42,397 shares of Coca-Cola stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $70.02, for a total transaction of $2,968,637.94. Following the completion of the transaction, the chief executive officer now owns 442,546 shares in the company, valued at approximately $30,987,070.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Nancy Quan sold 18,484 shares of Coca-Cola stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,074,910 shares of company stock valued at $585,972,318. 0.97% of the stock is owned by insiders.

Coca-Cola Trading Up 0.6 %

NYSE:KO opened at $72.47 on Friday. The company has a market capitalization of $312.34 billion, a P/E ratio of 28.99, a PEG ratio of 4.05 and a beta of 0.59. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The Coca-Cola Company has a 12 month low of $51.55 and a 12 month high of $72.57. The firm has a fifty day simple moving average of $66.66 and a 200-day simple moving average of $63.13.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. The company had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The firm’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.78 EPS. On average, equities research analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a $0.485 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.94 annualized dividend and a yield of 2.68%. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

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.