Farmers Trust Co. Decreases Stock Holdings in The Coca-Cola Company (NYSE:KO)

Farmers Trust Co. lowered its position in shares of The Coca-Cola Company (NYSE:KO) by 1.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,592 shares of the company’s stock after selling 280 shares during the period. Farmers Trust Co.’s holdings in Coca-Cola were worth $1,158,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in KO. InvesTrust bought a new stake in shares of Coca-Cola in the fourth quarter worth about $5,463,000. Fulton Bank N.A. increased its stake in shares of Coca-Cola by 5.7% during the fourth quarter. Fulton Bank N.A. now owns 80,605 shares of the company’s stock valued at $5,018,000 after buying an additional 4,317 shares during the period. Park National Corp OH raised its holdings in shares of Coca-Cola by 17.0% during the fourth quarter. Park National Corp OH now owns 465,638 shares of the company’s stock valued at $28,991,000 after acquiring an additional 67,604 shares in the last quarter. One Wealth Capital Management LLC bought a new stake in Coca-Cola in the fourth quarter valued at $219,000. Finally, Strathmore Capital Advisors Inc. purchased a new position in Coca-Cola during the 4th quarter valued at $455,000. Institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling

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

Coca-Cola Stock Performance

KO traded up $0.75 during midday trading on Wednesday, reaching $61.59. The company had a trading volume of 8,369,733 shares, compared to its average volume of 13,427,842. The business has a 50-day moving average of $63.15 and a two-hundred day moving average of $66.55. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53. The company has a market cap of $265.32 billion, a P/E ratio of 25.45, a P/E/G ratio of 3.83 and a beta of 0.61.

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

Coca-Cola Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date was Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is 80.17%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on KO. Truist Financial boosted their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Barclays decreased their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Morgan Stanley decreased their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Finally, TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Wednesday. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $72.60.

Coca-Cola 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.