Community Bank N.A. Cuts Stock Position in The Coca-Cola Company (NYSE:KO)

Community Bank N.A. lessened its position in The Coca-Cola Company (NYSE:KO) by 5.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 118,131 shares of the company’s stock after selling 6,395 shares during the quarter. Coca-Cola makes up 0.9% of Community Bank N.A.’s investment portfolio, making the stock its 23rd largest holding. Community Bank N.A.’s holdings in Coca-Cola were worth $6,961,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. BIP Wealth LLC raised its holdings in shares of Coca-Cola by 1.1% in the 4th quarter. BIP Wealth LLC now owns 34,456 shares of the company’s stock valued at $2,031,000 after buying an additional 382 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Coca-Cola by 5.4% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 91,941 shares of the company’s stock valued at $5,418,000 after buying an additional 4,720 shares during the period. Capital Advisors Ltd. LLC increased its holdings in Coca-Cola by 17.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 3,393 shares of the company’s stock worth $200,000 after purchasing an additional 495 shares during the period. Wynn Capital LLC purchased a new stake in Coca-Cola during the 4th quarter worth about $1,198,000. Finally, Alaska Permanent Fund Corp increased its holdings in Coca-Cola by 1.7% during the 4th quarter. Alaska Permanent Fund Corp now owns 86,768 shares of the company’s stock worth $5,113,000 after purchasing an additional 1,432 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling

In related news, EVP Nancy Quan sold 57,368 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total transaction of $3,491,990.16. Following the transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $13,594,097.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Coca-Cola news, insider Bruno Pietracci sold 18,551 shares of Coca-Cola stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $59.41, for a total value of $1,102,114.91. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Nancy Quan sold 57,368 shares of Coca-Cola stock in a transaction that occurred 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 owns 223,330 shares in the company, valued at $13,594,097.10. The disclosure for this sale can be found here. Insiders have sold 375,407 shares of company stock worth $22,795,742 in the last quarter. 0.97% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on KO shares. JPMorgan Chase & Co. cut their price target on Coca-Cola from $66.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, April 19th. Citigroup upped their price target on Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Finally, Barclays upped their price target on Coca-Cola from $66.00 to $68.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $67.09.

Coca-Cola Stock Up 1.5 %

Shares of NYSE:KO traded up $0.91 on Wednesday, hitting $61.55. 19,515,863 shares of the company’s stock were exchanged, compared to its average volume of 13,970,263. The firm’s 50-day moving average is $60.02 and its 200 day moving average is $58.74. The company has a market capitalization of $265.35 billion, a PE ratio of 24.82, a P/E/G ratio of 3.46 and a beta of 0.59. The Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $64.69. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.95 and a current ratio of 1.13.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, February 13th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. The firm had revenue of $10.80 billion during the quarter, compared to analysts’ expectations of $10.68 billion. Coca-Cola had a return on equity of 42.50% and a net margin of 23.42%. The business’s revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.45 EPS. Sell-side analysts predict that The Coca-Cola Company will post 2.81 EPS for the current year.

Coca-Cola Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were paid a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Coca-Cola’s previous quarterly dividend of $0.46. Coca-Cola’s dividend payout ratio (DPR) is currently 78.23%.

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.