Colonial Trust Co SC Increases Position in The Coca-Cola Company (NYSE:KO)

Colonial Trust Co SC raised its holdings in The Coca-Cola Company (NYSE:KO - Free Report) by 12.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 83,450 shares of the company's stock after buying an additional 9,295 shares during the period. Colonial Trust Co SC's holdings in Coca-Cola were worth $5,196,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of KO. Concentric Capital Strategies LP purchased a new position in shares of Coca-Cola during the fourth quarter worth about $241,000. CoreCap Advisors LLC increased its position in Coca-Cola by 2.3% during the 4th quarter. CoreCap Advisors LLC now owns 103,941 shares of the company's stock worth $6,471,000 after purchasing an additional 2,357 shares during the period. Crestline Management LP lifted its holdings in Coca-Cola by 28.8% in the fourth quarter. Crestline Management LP now owns 191,667 shares of the company's stock valued at $11,933,000 after acquiring an additional 42,804 shares during the period. Capital Advantage Inc. purchased a new stake in shares of Coca-Cola during the 4th quarter worth approximately $530,000. Finally, Capitolis Liquid Global Markets LLC increased its position in shares of Coca-Cola by 11.2% in the fourth quarter. Capitolis Liquid Global Markets LLC now owns 944,000 shares of the company's stock valued at $58,773,000 after buying an additional 95,000 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

Insiders Place Their Bets

In other news, EVP Lisa Chang sold 13,445 shares of Coca-Cola stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $71.50, for a total value of $961,317.50. Following the completion of the transaction, the executive vice president now directly owns 94,676 shares in the company, valued at approximately $6,769,334. The trade was a 12.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Henrique Braun sold 25,277 shares of the business's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $71.47, for a total transaction of $1,806,547.19. Following the transaction, the chief operating officer now owns 52,466 shares of the company's stock, valued at $3,749,745.02. This trade represents a 32.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 313,423 shares of company stock valued at $22,263,071. Corporate insiders own 0.97% of the company's stock.

Analyst Ratings Changes

KO has been the subject of several analyst reports. Royal Bank of Canada boosted their target price on shares of Coca-Cola from $73.00 to $76.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. UBS Group boosted their target price on Coca-Cola from $84.00 to $86.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Evercore ISI increased their target price on Coca-Cola from $72.00 to $75.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Piper Sandler lifted their price target on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. Finally, Wells Fargo & Company increased their target price on Coca-Cola from $70.00 to $75.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $75.59.

Coca-Cola Stock Performance

Shares of NYSE:KO opened at $71.78 on Wednesday. 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 Coca-Cola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The firm has a market cap of $308.90 billion, a PE ratio of 29.06, a PEG ratio of 3.79 and a beta of 0.47. The company's 50 day moving average price is $70.94 and its two-hundred day moving average price is $66.59.

Coca-Cola (NYSE:KO - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.02. The company had revenue of $11.13 billion for the quarter, compared to analysts' expectations of $11.23 billion. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. Coca-Cola's revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.72 earnings per share. Equities research analysts predict that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 annualized dividend and a yield of 2.84%. Coca-Cola's payout ratio is 81.60%.

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.

Want to see what other hedge funds are holding KO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Coca-Cola Company (NYSE:KO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.