Members Trust Co Sells 706 Shares of The Coca-Cola Company (NYSE:KO)

15 Oct 2024, 16:08 by Jessica Moore · The Cerbat Gem

Members Trust Co cut its holdings in The Coca-Cola Company (NYSE:KO – Free Report) by 1.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,914 shares of the company’s stock after selling 706 shares during the quarter. Coca-Cola makes up approximately 0.0% of Members Trust Co’s holdings, making the stock its 24th largest holding. Members Trust Co’s holdings in Coca-Cola were worth $3,802,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of KO. Price T Rowe Associates Inc. MD grew its holdings in shares of Coca-Cola by 21.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock worth $3,016,023,000 after acquiring an additional 8,733,326 shares during the period. Legal & General Group Plc grew its position in shares of Coca-Cola by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 38,701,876 shares of the company’s stock worth $2,463,373,000 after buying an additional 1,084,475 shares during the period. Truist Financial Corp increased its stake in shares of Coca-Cola by 1.1% in the 2nd quarter. Truist Financial Corp now owns 16,362,598 shares of the company’s stock worth $1,041,479,000 after acquiring an additional 177,241 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Coca-Cola by 30.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,698,984 shares of the company’s stock worth $776,924,000 after acquiring an additional 2,964,850 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in Coca-Cola by 15.7% in the first quarter. Canada Pension Plan Investment Board now owns 10,433,875 shares of the company’s stock worth $638,344,000 after purchasing an additional 1,417,930 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Price Performance

Shares of NYSE KO traded up $0.05 during mid-day trading on Tuesday, hitting $70.39. 5,524,199 shares of the company’s stock traded hands, compared to its average volume of 13,149,642. The company has a market capitalization of $303.24 billion, a P/E ratio of 28.23, a PEG ratio of 3.92 and a beta of 0.60. The Coca-Cola Company has a 1 year low of $52.84 and a 1 year high of $73.53. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The company’s 50-day moving average is $70.56 and its two-hundred day moving average is $65.52.

Coca-Cola (NYSE:KO – Get Free Report) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.81 by $0.03. The company had revenue of $12.40 billion during the quarter, compared to analyst estimates of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. Coca-Cola’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.78 earnings per share. On average, equities analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were given a $0.485 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.94 annualized dividend and a yield of 2.76%. Coca-Cola’s dividend payout ratio (DPR) is 77.60%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on KO shares. Royal Bank of Canada upped their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Truist Financial increased their price target on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, July 25th. StockNews.com lowered shares of Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. TD Cowen increased their target price on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Finally, Barclays boosted their price target on Coca-Cola from $70.00 to $74.00 and gave the stock an “overweight” rating in a research note on Friday. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Coca-Cola presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.33.

Read Our Latest Stock Analysis on KO

Insiders Place Their Bets

In other Coca-Cola news, EVP Nancy Quan sold 19,304 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $64.96, for a total transaction of $1,253,987.84. Following the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at $14,507,516.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO James Quincey sold 102,533 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total value of $7,179,360.66. Following the completion of the transaction, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Nancy Quan sold 19,304 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $64.96, for a total value of $1,253,987.84. Following the sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $14,507,516.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 376,096 shares of company stock worth $25,982,352 in the last three months. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Profile

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