The Coca-Cola Company (NYSE:KO) Shares Sold by Whittier Trust Co. of Nevada Inc.

21 Oct 2024, 18:21 by Amy Steele · The Cerbat Gem

Whittier Trust Co. of Nevada Inc. trimmed its holdings in The Coca-Cola Company (NYSE:KO – Free Report) by 1.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 105,349 shares of the company’s stock after selling 1,293 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Coca-Cola were worth $7,570,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Northwest Investment Counselors LLC bought a new stake in shares of Coca-Cola in the third quarter valued at approximately $139,000. Retirement Guys Formula LLC boosted its stake in shares of Coca-Cola by 1.7% in the 3rd quarter. Retirement Guys Formula LLC now owns 13,462 shares of the company’s stock valued at $967,000 after purchasing an additional 220 shares during the last quarter. Border to Coast Pensions Partnership Ltd lifted its holdings in shares of Coca-Cola by 4.5% during the 3rd quarter. Border to Coast Pensions Partnership Ltd now owns 788,000 shares of the company’s stock valued at $56,460,000 after purchasing an additional 33,616 shares in the last quarter. Everence Capital Management Inc. increased its holdings in Coca-Cola by 7.0% during the 3rd quarter. Everence Capital Management Inc. now owns 94,560 shares of the company’s stock worth $6,795,000 after purchasing an additional 6,190 shares in the last quarter. Finally, James Hambro & Partners LLP lifted its position in shares of Coca-Cola by 3.8% in the third quarter. James Hambro & Partners LLP now owns 1,276,253 shares of the company’s stock worth $91,705,000 after purchasing an additional 47,127 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

KO has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Bank of America raised their price target on shares of Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. StockNews.com downgraded Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Finally, Citigroup increased their target price on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and an average target price of $72.00.

Read Our Latest Stock Analysis on Coca-Cola

Insiders Place Their Bets

In related news, EVP Nancy Quan sold 18,484 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $15,968,095. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Lisa Chang sold 58,122 shares of Coca-Cola stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $68.51, for a total transaction of $3,981,938.22. Following the transaction, the executive vice president now directly owns 74,067 shares in the company, valued at approximately $5,074,330.17. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the sale, the executive vice president now owns 223,330 shares in the company, valued at $15,968,095. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 356,792 shares of company stock worth $24,728,364. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

KO traded down $0.91 during midday trading on Monday, reaching $69.53. The company’s stock had a trading volume of 8,066,675 shares, compared to its average volume of 13,140,463. The Coca-Cola Company has a twelve month low of $54.04 and a twelve month high of $73.53. 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 company has a fifty day simple moving average of $70.70 and a 200 day simple moving average of $65.80. The stock has a market cap of $299.53 billion, a P/E ratio of 27.90, a PEG ratio of 3.92 and a beta of 0.60.

Coca-Cola (NYSE:KO – Get Free Report) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.03. The firm had revenue of $12.40 billion for the quarter, compared to the consensus estimate of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the business posted $0.78 EPS. Research analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio is currently 77.60%.

About Coca-Cola

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