First National Trust Co Has $2.57 Million Stake in The Coca-Cola Company (NYSE:KO)

First National Trust Co decreased its position in shares of The Coca-Cola Company (NYSE:KO) by 5.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 43,634 shares of the company’s stock after selling 2,578 shares during the quarter. First National Trust Co’s holdings in Coca-Cola were worth $2,571,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of KO. Morgan Stanley lifted its holdings in Coca-Cola by 2.5% in the third quarter. Morgan Stanley now owns 80,448,083 shares of the company’s stock valued at $4,503,484,000 after buying an additional 1,950,146 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Coca-Cola by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 63,138,970 shares of the company’s stock valued at $3,501,789,000 after purchasing an additional 2,464,618 shares during the period. Northern Trust Corp boosted its position in shares of Coca-Cola by 4.8% in the 3rd quarter. Northern Trust Corp now owns 44,913,068 shares of the company’s stock worth $2,514,234,000 after purchasing an additional 2,040,664 shares during the last quarter. Invesco Ltd. grew its stake in shares of Coca-Cola by 8.2% during the third quarter. Invesco Ltd. now owns 25,845,340 shares of the company’s stock worth $1,446,822,000 after purchasing an additional 1,963,963 shares during the period. Finally, California Public Employees Retirement System increased its holdings in Coca-Cola by 16.4% in the fourth quarter. California Public Employees Retirement System now owns 13,804,908 shares of the company’s stock valued at $813,523,000 after purchasing an additional 1,949,500 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on KO shares. Barclays boosted their target price on Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday. Evercore ISI upped their target price on shares of Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday. Citigroup lifted their price target on shares of Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. JPMorgan Chase & Co. upped their price objective on shares of Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, UBS Group lifted their target price on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Coca-Cola presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.27.

Insider Activity at Coca-Cola

In related news, EVP Nancy Quan sold 57,368 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total value of $3,491,990.16. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $13,594,097.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Coca-Cola news, CEO James Quincey sold 247,188 shares of Coca-Cola stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the completion of the transaction, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at $26,968,753.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Nancy Quan sold 57,368 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total transaction of $3,491,990.16. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at $13,594,097.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 323,107 shares of company stock valued at $19,657,742. 0.97% of the stock is owned by insiders.

Coca-Cola Stock Up 0.3 %

Shares of NYSE:KO traded up $0.18 during mid-day trading on Friday, reaching $62.17. 11,628,675 shares of the stock were exchanged, compared to its average volume of 13,782,690. The stock’s 50 day simple moving average is $60.24 and its 200-day simple moving average is $59.12. The Coca-Cola Company has a one year low of $51.55 and a one year high of $64.25. The company has a market cap of $268.03 billion, a P/E ratio of 24.87, a P/E/G ratio of 3.54 and a beta of 0.57. The company has a quick ratio of 0.95, a current ratio of 1.04 and a debt-to-equity ratio of 1.26.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The company had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $11.01 billion. During the same period last year, the company earned $0.68 earnings per share. The firm’s revenue was up 2.7% compared to the same quarter last year. As a group, equities research analysts predict that The Coca-Cola Company will post 2.81 EPS for the current year.

Coca-Cola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 3.12%. The ex-dividend date is Friday, June 14th. Coca-Cola’s payout ratio is 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.