CocaCola Company (The) (NYSE:KO) Shares Sold by Capital City Trust Co. FL

Key Points

• Capital City Trust Co. FL has trimmed its Coca-Cola holdings by 27.7%, making it the largest position in its portfolio at approximately 9.2% and valued at $33.4 million.
• CEO James Quincey sold over 266,000 shares, marking a 49.12% decrease in his ownership, while CFO John Murphy sold 88,658 shares, a 30.14% decrease in his holdings.
• Analysts maintain a consensus "Buy" rating on Coca-Cola, with the average target price currently at $77.21, following a recent earnings report where the company exceeded EPS estimates.

Capital City Trust Co. FL reduced its holdings in CocaCola Company (The) (NYSE:KO - Free Report) by 27.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 466,594 shares of the company's stock after selling 178,475 shares during the period. CocaCola accounts for about 9.2% of Capital City Trust Co. FL's portfolio, making the stock its largest holding. Capital City Trust Co. FL's holdings in CocaCola were worth $33,417,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC grew its position in shares of CocaCola by 13.3% during the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company's stock worth $2,433,000 after purchasing an additional 4,591 shares in the last quarter. Revolve Wealth Partners LLC lifted its holdings in shares of CocaCola by 3.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company's stock worth $548,000 after acquiring an additional 293 shares during the period. Bank Pictet & Cie Europe AG lifted its stake in CocaCola by 12.2% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 19,102 shares of the company's stock valued at $1,189,000 after purchasing an additional 2,072 shares during the last quarter. Pictet Asset Management Holding SA lifted its stake in CocaCola by 9.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 3,172,065 shares of the company's stock valued at $197,493,000 after purchasing an additional 269,491 shares during the last quarter. Finally, RiverFront Investment Group LLC lifted its stake in CocaCola by 16.4% in the 4th quarter. RiverFront Investment Group LLC now owns 122,309 shares of the company's stock valued at $7,615,000 after purchasing an additional 17,263 shares during the last quarter. Institutional investors own 70.26% of the company's stock.

Insider Activity

In other CocaCola news, CEO James Quincey sold 266,403 shares of the business's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $72.06, for a total value of $19,197,000.18. Following the completion of the transaction, the chief executive officer directly owned 275,946 shares in the company, valued at approximately $19,884,668.76. The trade was a 49.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Beatriz R. Perez sold 60,326 shares of the stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the completion of the transaction, the executive vice president owned 187,716 shares in the company, valued at approximately $13,491,148.92. This trade represents a 24.32% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 415,387 shares of company stock valued at $29,923,985. 0.97% of the stock is currently owned by company insiders.

CocaCola Stock Down 0.7%

KO stock traded down $0.52 during trading on Thursday, hitting $68.24. 7,712,511 shares of the stock traded hands, compared to its average volume of 17,220,338. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The firm's 50 day moving average is $70.45 and its two-hundred day moving average is $69.49. The stock has a market cap of $293.66 billion, a price-to-earnings ratio of 24.17, a price-to-earnings-growth ratio of 3.61 and a beta of 0.45. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.21 and a quick ratio of 0.98.

CocaCola (NYSE:KO - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.83 by $0.04. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The company had revenue of $12.50 billion for the quarter, compared to the consensus estimate of $12.55 billion. During the same quarter last year, the firm posted $0.84 earnings per share. The firm's revenue was up 2.5% compared to the same quarter last year. On average, sell-side analysts anticipate that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend is Monday, September 15th. CocaCola's dividend payout ratio is currently 72.34%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Morgan Stanley restated an "overweight" rating and issued a $81.00 price target on shares of CocaCola in a research report on Monday, June 9th. JPMorgan Chase & Co. raised their price target on shares of CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. UBS Group dropped their price target on shares of CocaCola from $86.00 to $84.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the stock an "outperform" rating in a report on Monday, July 21st. Finally, BNP Paribas reiterated an "outperform" rating and issued a $83.00 target price on shares of CocaCola in a research note on Monday, July 21st. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $77.21.

CocaCola 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.