Community Bank N.A. Has $5.80 Million Holdings in The Coca-Cola Co (KO)
Community Bank N.A. decreased its holdings in The Coca-Cola Co (NYSE:KO) by 8.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 125,523 shares of the company’s stock after selling 11,050 shares during the quarter. The Coca-Cola accounts for about 1.1% of Community Bank N.A.’s portfolio, making the stock its 27th largest holding. Community Bank N.A.’s holdings in The Coca-Cola were worth $5,797,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of KO. C WorldWide Group Holding A S raised its stake in The Coca-Cola by 873.0% in the 2nd quarter. C WorldWide Group Holding A S now owns 7,630,919 shares of the company’s stock worth $334,692,000 after purchasing an additional 6,846,641 shares in the last quarter. Charles Schwab Investment Advisory Inc. acquired a new stake in The Coca-Cola in the 2nd quarter worth about $206,654,000. Natixis raised its stake in The Coca-Cola by 218.3% in the 2nd quarter. Natixis now owns 4,080,146 shares of the company’s stock worth $178,955,000 after purchasing an additional 2,798,257 shares in the last quarter. Bank of Montreal Can raised its stake in The Coca-Cola by 47.4% in the 3rd quarter. Bank of Montreal Can now owns 5,934,198 shares of the company’s stock worth $274,099,000 after purchasing an additional 1,907,604 shares in the last quarter. Finally, Unigestion Holding SA acquired a new stake in The Coca-Cola in the 2nd quarter worth about $78,078,000. Institutional investors and hedge funds own 65.51% of the company’s stock.
Several brokerages have weighed in on KO. TheStreet upgraded shares of The Coca-Cola from a “c+” rating to a “b-” rating in a research note on Tuesday, July 17th. Gabelli restated a “hold” rating on shares of The Coca-Cola in a research report on Thursday, July 26th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $50.00 target price on shares of The Coca-Cola in a research report on Thursday, July 26th. Morningstar set a $49.00 target price on shares of The Coca-Cola and gave the company a “neutral” rating in a research report on Tuesday, November 6th. Finally, Macquarie set a $50.00 target price on shares of The Coca-Cola and gave the company a “neutral” rating in a research report on Thursday, November 8th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twelve have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $51.43.
The Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, October 30th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.03. The company had revenue of $8.25 billion for the quarter, compared to analyst estimates of $8.20 billion. The Coca-Cola had a net margin of 8.70% and a return on equity of 43.12%. The firm’s revenue was down 9.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.50 EPS. As a group, research analysts expect that The Coca-Cola Co will post 2.08 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 3.13%. The ex-dividend date is Thursday, November 29th. The Coca-Cola’s dividend payout ratio (DPR) is presently 81.68%.
In related news, SVP Beatriz R. Perez sold 10,000 shares of The Coca-Cola stock in a transaction that occurred on Wednesday, October 31st. The shares were sold at an average price of $47.98, for a total transaction of $479,800.00. Following the sale, the senior vice president now directly owns 92,645 shares of the company’s stock, valued at approximately $4,445,107.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian John Smith sold 43,000 shares of The Coca-Cola stock in a transaction that occurred on Wednesday, October 31st. The shares were sold at an average price of $48.00, for a total transaction of $2,064,000.00. Following the sale, the insider now directly owns 123,908 shares in the company, valued at $5,947,584. The disclosure for this sale can be found here. Insiders have sold a total of 251,892 shares of company stock worth $12,299,075 over the last ninety days. 1.48% of the stock is currently owned by insiders.
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The Coca-Cola Profile
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides water, enhanced water, and sports drinks; juices; juice, dairy, and plantbased beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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