Adirondack Trust Co. Has $1.90 Million Stake in The Coca-Cola Company (NYSE:KO)

Adirondack Trust Co. decreased its stake in shares of The Coca-Cola Company (NYSE:KOFree Report) by 1.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 31,668 shares of the company’s stock after selling 420 shares during the period. Coca-Cola accounts for about 0.8% of Adirondack Trust Co.’s holdings, making the stock its 29th largest position. Adirondack Trust Co.’s holdings in Coca-Cola were worth $1,901,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in KO. Loomis Sayles & Co. L P grew its holdings in Coca-Cola by 1.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 79,478 shares of the company’s stock valued at $4,449,000 after buying an additional 1,295 shares during the last quarter. Financial Engines Advisors L.L.C. lifted its position in shares of Coca-Cola by 37.9% in the 3rd quarter. Financial Engines Advisors L.L.C. now owns 7,056 shares of the company’s stock worth $398,000 after acquiring an additional 1,941 shares during the period. QRG Capital Management Inc. bought a new stake in shares of Coca-Cola in the 3rd quarter worth approximately $16,114,000. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Coca-Cola in the 3rd quarter worth approximately $12,219,000. Finally, Envestnet Asset Management Inc. lifted its position in shares of Coca-Cola by 14.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 5,171,208 shares of the company’s stock worth $289,484,000 after acquiring an additional 672,415 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Activity

In related news, EVP Nancy Quan sold 19,304 shares of Coca-Cola stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $63.44, for a total transaction of $1,224,645.76. Following the completion of the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $14,168,055.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Beatriz R. Perez sold 57,298 shares of Coca-Cola stock in a transaction on Monday, May 6th. The stock was sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the completion of the sale, the executive vice president now directly owns 167,107 shares of the company’s stock, valued at $10,358,962.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Nancy Quan sold 19,304 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $63.44, for a total value of $1,224,645.76. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $14,168,055.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 142,774 shares of company stock valued at $8,952,720. Company insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

KO traded down $0.13 during trading on Tuesday, hitting $62.49. The company’s stock had a trading volume of 1,896,873 shares, compared to its average volume of 12,976,397. The firm’s 50 day moving average price is $61.92 and its two-hundred day moving average price is $60.51. The company has a quick ratio of 0.86, a current ratio of 1.04 and a debt-to-equity ratio of 1.26. The Coca-Cola Company has a 12 month low of $51.55 and a 12 month high of $64.36. The stock has a market capitalization of $269.20 billion, a price-to-earnings ratio of 25.05, a price-to-earnings-growth ratio of 3.53 and a beta of 0.59.

Coca-Cola (NYSE:KOGet Free Report) last released its earnings results on Tuesday, April 30th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.70 by $0.02. The company had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $11.01 billion. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the firm earned $0.68 EPS. Sell-side analysts forecast that The Coca-Cola Company will post 2.82 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a $0.485 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.94 annualized dividend and a dividend yield of 3.10%. Coca-Cola’s dividend payout ratio (DPR) is currently 77.60%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on KO. Barclays raised their price objective on Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Evercore ISI raised their target price on Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Argus raised their target price on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Morgan Stanley raised their target price on Coca-Cola from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, June 10th. Finally, UBS Group raised their target price on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.55.

Check Out Our Latest Stock Report on Coca-Cola

About Coca-Cola

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

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