The Coca-Cola Company (NYSE:KO) Shares Sold by Norway Savings Bank

15 Oct 2024, 17:42 by Michael Walen · The Markets Daily

Norway Savings Bank cut its stake in shares of The Coca-Cola Company (NYSE:KO – Free Report) by 0.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,123 shares of the company’s stock after selling 200 shares during the period. Norway Savings Bank’s holdings in Coca-Cola were worth $1,590,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Apella Capital LLC increased its position in shares of Coca-Cola by 1.4% in the 3rd quarter. Apella Capital LLC now owns 10,533 shares of the company’s stock worth $748,000 after purchasing an additional 146 shares during the last quarter. Elwood & Goetz Wealth Advisory Group LLC increased its holdings in Coca-Cola by 2.2% in the second quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 6,871 shares of the company’s stock valued at $437,000 after buying an additional 149 shares during the last quarter. Drive Wealth Management LLC raised its stake in Coca-Cola by 1.6% during the second quarter. Drive Wealth Management LLC now owns 9,824 shares of the company’s stock valued at $630,000 after buying an additional 151 shares in the last quarter. Capital Advisors Ltd. LLC lifted its holdings in Coca-Cola by 4.4% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 3,631 shares of the company’s stock worth $231,000 after buying an additional 153 shares during the last quarter. Finally, Chapin Davis Inc. grew its position in shares of Coca-Cola by 1.0% in the 3rd quarter. Chapin Davis Inc. now owns 15,312 shares of the company’s stock worth $1,100,000 after acquiring an additional 153 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Price Performance

NYSE:KO traded up $0.40 during midday trading on Tuesday, hitting $70.74. 3,390,039 shares of the stock were exchanged, compared to its average volume of 13,137,976. The company has a market capitalization of $304.74 billion, a price-to-earnings ratio of 28.15, a P/E/G ratio of 3.92 and a beta of 0.60. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The Coca-Cola Company has a one year low of $52.84 and a one year high of $73.53. The business has a 50-day moving average price of $70.56 and a two-hundred day moving average price of $65.52.

Coca-Cola (NYSE:KO – Get Free Report) last announced its earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.03. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The business had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.78 billion. During the same quarter last year, the business posted $0.78 earnings per share. The company’s quarterly revenue was up 3.3% on a year-over-year basis. Sell-side analysts predict that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date was Friday, September 13th. Coca-Cola’s payout ratio is 77.60%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on KO. Royal Bank of Canada upped their price target on Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Truist Financial lifted 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. TD Cowen increased their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. lifted their target price on Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Finally, Bank of America raised their price target on Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $71.33.

View Our Latest Research Report on Coca-Cola

Insiders Place Their Bets

In related news, EVP Nancy Quan sold 18,484 shares of Coca-Cola stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of Coca-Cola stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,968,095. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Bruno Pietracci sold 38,653 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $69.01, for a total value of $2,667,443.53. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 376,096 shares of company stock worth $25,982,352. 0.97% of the stock is owned by insiders.

Coca-Cola Profile

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