The Coca-Cola Company (NYSE:KO) Stake Lifted by Huntington National Bank

Huntington National Bank increased its stake in shares of The Coca-Cola Company (NYSE:KO) by 1.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 615,187 shares of the company’s stock after buying an additional 11,087 shares during the quarter. Huntington National Bank’s holdings in Coca-Cola were worth $44,207,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Plato Investment Management Ltd grew its stake in Coca-Cola by 1.2% during the 3rd quarter. Plato Investment Management Ltd now owns 156,696 shares of the company’s stock worth $11,249,000 after buying an additional 1,787 shares during the last quarter. Cable Hill Partners LLC grew its stake in shares of Coca-Cola by 6.4% in the third quarter. Cable Hill Partners LLC now owns 8,394 shares of the company’s stock worth $607,000 after purchasing an additional 507 shares in the last quarter. Mizuho Securities Co. Ltd. grew its stake in shares of Coca-Cola by 160.8% in the third quarter. Mizuho Securities Co. Ltd. now owns 1,330 shares of the company’s stock worth $96,000 after purchasing an additional 820 shares in the last quarter. Main Street Financial Solutions LLC grew its stake in shares of Coca-Cola by 7.9% in the third quarter. Main Street Financial Solutions LLC now owns 49,417 shares of the company’s stock worth $3,551,000 after purchasing an additional 3,605 shares in the last quarter. Finally, D Orazio & Associates Inc. grew its stake in shares of Coca-Cola by 8.4% in the third quarter. D Orazio & Associates Inc. now owns 11,069 shares of the company’s stock worth $795,000 after purchasing an additional 854 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Insider Activity at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction 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 directly owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at $21,933,220.38. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $15,968,095. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 303,748 shares of company stock valued at $20,677,431. Company insiders own 0.97% of the company’s stock.

Coca-Cola Trading Down 0.3 %

Shares of NYSE KO opened at $63.02 on Thursday. The Coca-Cola Company has a 12 month low of $56.70 and a 12 month high of $73.53. The company has a market cap of $271.48 billion, a price-to-earnings ratio of 26.04, a P/E/G ratio of 3.84 and a beta of 0.61. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The business has a fifty day simple moving average of $69.18 and a 200-day simple moving average of $66.53.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.03. The firm had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. Coca-Cola’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.74 earnings per share. Sell-side analysts predict that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 3.08%. The ex-dividend date is Friday, November 29th. Coca-Cola’s payout ratio is 80.17%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on KO shares. Citigroup increased their price target on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Wells Fargo & Company upped their price objective on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, September 16th. TD Cowen upped their price objective on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Finally, Morgan Stanley cut their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $72.36.

About Coca-Cola

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.