OLD Point Trust & Financial Services N A Has $2.48 Million Stock Position in The Coca-Cola Company (NYSE:KO)

OLD Point Trust & Financial Services N A lessened its position in The Coca-Cola Company (NYSE:KO) by 4.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,773 shares of the company’s stock after selling 1,966 shares during the quarter. OLD Point Trust & Financial Services N A’s holdings in Coca-Cola were worth $2,476,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of KO. Howard Capital Management Group LLC lifted its position in shares of Coca-Cola by 0.5% during the 3rd quarter. Howard Capital Management Group LLC now owns 399,607 shares of the company’s stock worth $28,716,000 after purchasing an additional 2,069 shares during the last quarter. United Bank increased its position in Coca-Cola by 65.4% in the 3rd quarter. United Bank now owns 80,888 shares of the company’s stock worth $5,813,000 after buying an additional 31,979 shares during the period. Avior Wealth Management LLC increased its position in Coca-Cola by 0.9% in the 3rd quarter. Avior Wealth Management LLC now owns 20,784 shares of the company’s stock worth $1,494,000 after buying an additional 180 shares during the period. Prospera Private Wealth LLC boosted its position in shares of Coca-Cola by 336.8% in the third quarter. Prospera Private Wealth LLC now owns 51,638 shares of the company’s stock valued at $3,711,000 after acquiring an additional 39,816 shares during the period. Finally, Segall Bryant & Hamill LLC acquired a new stake in shares of Coca-Cola in the third quarter worth $2,683,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Trading Down 0.1 %

Shares of Coca-Cola stock opened at $69.33 on Thursday. The stock has a market capitalization of $298.20 billion, a P/E ratio of 28.07, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The company has a 50-day simple moving average of $66.69 and a 200 day simple moving average of $66.53.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. Research analysts expect that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio is presently 82.59%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on KO. Piper Sandler upped their target price on shares of Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Morgan Stanley upped their price objective on shares of Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. UBS Group lifted their target price on Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and upped their price target for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Finally, DZ Bank raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $74.24.

Insider Activity

In other Coca-Cola news, CEO James Quincey sold 145,435 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total value of $10,327,339.35. Following the transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $24,324,191.46. This trade represents a 29.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Bruno Pietracci sold 19,058 shares of Coca-Cola stock in a transaction on Monday, February 24th. The shares were sold at an average price of $70.56, for a total value of $1,344,732.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 313,423 shares of company stock worth $22,263,071. 0.97% of the stock is owned by corporate insiders.

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.