Sageworth Trust Co Sells 361 Shares of The Coca-Cola Company (NYSE:KO)

Sageworth Trust Co cut its position in The Coca-Cola Company (NYSE:KO) by 8.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,150 shares of the company’s stock after selling 361 shares during the period. Sageworth Trust Co’s holdings in Coca-Cola were worth $298,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Kathmere Capital Management LLC lifted its stake in Coca-Cola by 15.2% in the 1st quarter. Kathmere Capital Management LLC now owns 4,922 shares of the company’s stock worth $301,000 after purchasing an additional 648 shares in the last quarter. Occidental Asset Management LLC raised its holdings in shares of Coca-Cola by 6.0% during the 1st quarter. Occidental Asset Management LLC now owns 8,418 shares of the company’s stock worth $515,000 after acquiring an additional 477 shares in the last quarter. First Bank & Trust boosted its position in shares of Coca-Cola by 19.8% during the 1st quarter. First Bank & Trust now owns 27,984 shares of the company’s stock valued at $1,712,000 after acquiring an additional 4,631 shares during the last quarter. Vicus Capital grew its holdings in shares of Coca-Cola by 66.2% in the first quarter. Vicus Capital now owns 8,979 shares of the company’s stock valued at $549,000 after purchasing an additional 3,576 shares in the last quarter. Finally, Coston McIsaac & Partners raised its stake in Coca-Cola by 1.1% during the first quarter. Coston McIsaac & Partners now owns 98,562 shares of the company’s stock valued at $6,029,000 after purchasing an additional 1,040 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Stock Down 0.6 %

KO traded down $0.38 on Friday, hitting $66.92. The company had a trading volume of 11,138,127 shares, compared to its average volume of 13,253,075. The stock has a market capitalization of $288.42 billion, a price-to-earnings ratio of 27.09, a P/E/G ratio of 3.91 and a beta of 0.60. The stock has a fifty day moving average price of $70.66 and a 200-day moving average price of $66.02. The Coca-Cola Company has a 12-month low of $55.10 and a 12-month high of $73.53. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08.

Coca-Cola (NYSE:KO) last posted its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. The company had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. Coca-Cola’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.74 earnings per share. Analysts predict that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.90%. Coca-Cola’s payout ratio is 78.54%.

Insider Activity

In other Coca-Cola news, insider Bruno Pietracci sold 38,653 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total transaction of $2,667,443.53. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO James Quincey sold 102,533 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total value of $7,179,360.66. Following the sale, the chief executive officer now owns 442,546 shares in the company, valued at $30,987,070.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bruno Pietracci sold 38,653 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total value of $2,667,443.53. The disclosure for this sale can be found here. Insiders have sold a total of 319,005 shares of company stock worth $22,198,147 over the last 90 days. 0.97% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

KO has been the topic of a number of research reports. Barclays reduced their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Friday. Truist Financial boosted their target price on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Citigroup raised their price target on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Morgan Stanley dropped their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, TD Cowen increased their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $71.80.

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.