Grove Bank & Trust Has $713,000 Stock Position in The Coca-Cola Company (NYSE:KO)

Grove Bank & Trust boosted its holdings in shares of The Coca-Cola Company (NYSE:KO) by 2.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,449 shares of the company’s stock after purchasing an additional 235 shares during the period. Grove Bank & Trust’s holdings in Coca-Cola were worth $713,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Harvest Portfolios Group Inc. bought a new position in shares of Coca-Cola during the third quarter worth $18,383,000. Balentine LLC grew its position in shares of Coca-Cola by 92.4% during the 3rd quarter. Balentine LLC now owns 28,493 shares of the company’s stock worth $2,048,000 after purchasing an additional 13,685 shares in the last quarter. Sheaff Brock Investment Advisors LLC lifted its holdings in shares of Coca-Cola by 104.9% during the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock worth $8,351,000 after acquiring an additional 59,503 shares during the period. Fiduciary Alliance LLC boosted its stake in shares of Coca-Cola by 87.7% in the 4th quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock valued at $1,132,000 after purchasing an additional 8,499 shares in the last quarter. Finally, CIBC Asset Management Inc increased its holdings in Coca-Cola by 5.8% in the 3rd quarter. CIBC Asset Management Inc now owns 850,802 shares of the company’s stock worth $61,122,000 after purchasing an additional 46,541 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO James Quincey sold 100,000 shares of Coca-Cola 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 transaction, the chief executive officer now owns 342,546 shares in the company, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.97% of the stock is owned by insiders.

Coca-Cola Stock Up 0.8 %

Shares of NYSE KO opened at $62.76 on Monday. The Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.53. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The stock has a 50 day moving average price of $62.69 and a 200 day moving average price of $66.43. The firm has a market capitalization of $270.34 billion, a price-to-earnings ratio of 25.93, a PEG ratio of 3.35 and a beta of 0.61.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $11.61 billion. During the same period in the prior year, the firm posted $0.74 earnings per share. The company’s quarterly revenue was down .8% on a year-over-year basis. Sell-side analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Barclays cut their price target on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a research report on Friday. Truist Financial boosted their target price on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. UBS Group lowered their price objective on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a research report on Thursday. Wells Fargo & Company cut their price target on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Finally, Morgan Stanley dropped their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $72.13.

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.