WASHINGTON TRUST Co Trims Stake in The Coca-Cola Co (KO)

WASHINGTON TRUST Co reduced its stake in shares of The Coca-Cola Co (NYSE:KO) by 8.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 47,540 shares of the company’s stock after selling 4,477 shares during the period. WASHINGTON TRUST Co’s holdings in The Coca-Cola were worth $2,195,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in KO. FMR LLC boosted its holdings in The Coca-Cola by 2.3% in the 3rd quarter. FMR LLC now owns 50,012,668 shares of the company’s stock worth $2,310,085,000 after buying an additional 1,116,190 shares during the period. Morgan Stanley lifted its stake in The Coca-Cola by 3.6% in the 2nd quarter. Morgan Stanley now owns 38,959,393 shares of the company’s stock worth $1,708,760,000 after purchasing an additional 1,336,852 shares in the last quarter. Janus Henderson Group PLC lifted its stake in The Coca-Cola by 1.9% in the 2nd quarter. Janus Henderson Group PLC now owns 15,923,120 shares of the company’s stock worth $698,396,000 after purchasing an additional 299,933 shares in the last quarter. Swiss National Bank lifted its stake in The Coca-Cola by 2.8% in the 2nd quarter. Swiss National Bank now owns 15,439,790 shares of the company’s stock worth $677,189,000 after purchasing an additional 425,900 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its stake in The Coca-Cola by 2.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 14,397,678 shares of the company’s stock worth $631,483,000 after purchasing an additional 401,752 shares in the last quarter. 65.67% of the stock is owned by hedge funds and other institutional investors.

The Coca-Cola stock opened at $49.69 on Tuesday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.98 and a current ratio of 1.06. The firm has a market cap of $215.00 billion, a PE ratio of 26.02, a P/E/G ratio of 3.30 and a beta of 0.60. The Coca-Cola Co has a fifty-two week low of $41.45 and a fifty-two week high of $50.84.

The Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, October 30th. The company reported $0.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.03. The firm had revenue of $8.25 billion for the quarter, compared to analysts’ expectations of $8.20 billion. The Coca-Cola had a net margin of 8.70% and a return on equity of 43.12%. The business’s quarterly revenue was down 9.2% on a year-over-year basis. During the same quarter last year, the company posted $0.50 EPS. As a group, equities analysts forecast that The Coca-Cola Co will post 2.08 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend is Thursday, November 29th. The Coca-Cola’s dividend payout ratio (DPR) is currently 81.68%.

In other news, SVP James L. Dinkins sold 8,754 shares of the firm’s stock in a transaction on Wednesday, October 24th. The shares were sold at an average price of $46.95, for a total transaction of $411,000.30. Following the sale, the senior vice president now owns 28,354 shares in the company, valued at approximately $1,331,220.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Kathy N. Waller sold 88,400 shares of the stock in a transaction on Monday, November 12th. The shares were sold at an average price of $50.00, for a total transaction of $4,420,000.00. Following the transaction, the vice president now directly owns 256,421 shares in the company, valued at approximately $12,821,050. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 374,542 shares of company stock worth $18,436,957. Corporate insiders own 1.48% of the company’s stock.

Several analysts have issued reports on the stock. Royal Bank of Canada reiterated a “buy” rating and issued a $56.00 target price on shares of The Coca-Cola in a research note on Monday, November 19th. Citigroup set a $56.00 target price on shares of The Coca-Cola and gave the stock a “buy” rating in a research note on Friday, November 9th. Macquarie set a $50.00 target price on shares of The Coca-Cola and gave the stock a “neutral” rating in a research note on Thursday, November 8th. Morningstar set a $49.00 target price on shares of The Coca-Cola and gave the stock a “neutral” rating in a research note on Tuesday, November 6th. Finally, Morgan Stanley increased their target price on shares of The Coca-Cola from $50.00 to $51.00 and gave the stock a “hold” rating in a research note on Wednesday, October 31st. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and twelve have given a buy rating to the stock. The Coca-Cola has an average rating of “Hold” and a consensus price target of $51.43.

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About The Coca-Cola

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 plant–based 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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Institutional Ownership by Quarter for The Coca-Cola (NYSE:KO)

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