WASHINGTON TRUST Co reduced its stake in The Coca-Cola Co (NYSE:KO) by 10.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 53,612 shares of the company’s stock after selling 6,268 shares during the quarter. WASHINGTON TRUST Co’s holdings in The Coca-Cola were worth $2,414,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of KO. Meeder Asset Management Inc. lifted its stake in shares of The Coca-Cola by 59.4% in the 2nd quarter. Meeder Asset Management Inc. now owns 2,754 shares of the company’s stock valued at $124,000 after purchasing an additional 1,026 shares during the last quarter. Eagle Ridge Investment Management acquired a new position in shares of The Coca-Cola in the 2nd quarter valued at $138,000. SRS Capital Advisors Inc. lifted its stake in shares of The Coca-Cola by 8.6% in the 1st quarter. SRS Capital Advisors Inc. now owns 3,326 shares of the company’s stock valued at $141,000 after purchasing an additional 264 shares during the last quarter. Almanack Investment Partners LLC. acquired a new position in shares of The Coca-Cola in the 2nd quarter valued at $142,000. Finally, Perkins Coie Trust Co lifted its stake in shares of The Coca-Cola by 21.9% in the 2nd quarter. Perkins Coie Trust Co now owns 3,180 shares of the company’s stock valued at $143,000 after purchasing an additional 572 shares during the last quarter. Institutional investors own 65.30% of the company’s stock.
Shares of The Coca-Cola Co (NYSE KO) opened at $46.07 on Friday. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.39 and a quick ratio of 1.30. The stock has a market capitalization of $196,290.00, a PE ratio of 43.88, a price-to-earnings-growth ratio of 3.70 and a beta of 0.70. The Coca-Cola Co has a 12-month low of $40.22 and a 12-month high of $47.48.
The business also recently declared a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date was Thursday, November 30th. The Coca-Cola’s dividend payout ratio is currently 140.95%.
KO has been the topic of several recent analyst reports. Vetr raised The Coca-Cola from a “sell” rating to a “strong-buy” rating in a research note on Tuesday, September 12th. Macquarie initiated coverage on The Coca-Cola in a research note on Friday, September 15th. They issued a “neutral” rating and a $47.00 price target on the stock. upped their price target on The Coca-Cola from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, September 27th. Cowen reaffirmed a “hold” rating and issued a $42.00 price target on shares of The Coca-Cola in a research note on Thursday, September 28th. Finally, Bank of America reissued a “buy” rating and set a $52.00 target price (up previously from $50.00) on shares of The Coca-Cola in a research note on Monday, October 9th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eleven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $48.60.
In other The Coca-Cola news, insider J Alexander Douglas, Jr. sold 338,009 shares of the stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $46.09, for a total value of $15,578,834.81. Following the sale, the insider now owns 320,013 shares of the company’s stock, valued at approximately $14,749,399.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.51% of the stock is owned by company insiders.
The Coca-Cola Company Profile
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets non-alcoholic beverage brands, primarily sparkling beverages and a range of still beverages, such as waters, flavored waters and enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, sports drinks, dairy and energy drinks.
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