Community Bank N.A. reduced its position in The Coca-Cola Co (NYSE:KO) by 8.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 125,523 shares of the company’s stock after selling 11,050 shares during the quarter. The Coca-Cola makes up about 1.1% of Community Bank N.A.’s portfolio, making the stock its 27th largest position. Community Bank N.A.’s holdings in The Coca-Cola were worth $5,797,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. WP Advisors LLC acquired a new position in shares of The Coca-Cola during the 2nd quarter valued at $107,000. Signature Estate & Investment Advisors LLC acquired a new position in shares of The Coca-Cola during the 2nd quarter valued at $116,000. Westbourne Investment Advisors Inc. acquired a new position in shares of The Coca-Cola during the 3rd quarter valued at $117,000. Fort L.P. acquired a new position in shares of The Coca-Cola during the 2nd quarter valued at $122,000. Finally, Sageworth Trust Co lifted its position in shares of The Coca-Cola by 69.5% during the 3rd quarter. Sageworth Trust Co now owns 2,927 shares of the company’s stock valued at $135,000 after acquiring an additional 1,200 shares during the period. 65.51% of the stock is currently owned by institutional investors.
Several research firms have weighed in on KO. TheStreet upgraded shares of The Coca-Cola from a “c+” rating to a “b-” rating in a report on Tuesday, July 17th. Gabelli restated a “hold” rating on shares of The Coca-Cola in a report on Thursday, July 26th. JPMorgan Chase & Co. restated a “neutral” rating and set a $50.00 price objective on shares of The Coca-Cola in a report on Thursday, July 26th. Morningstar set a $49.00 price objective on shares of The Coca-Cola and gave the stock a “neutral” rating in a report on Tuesday, November 6th. Finally, Macquarie set a $50.00 price objective on shares of The Coca-Cola and gave the stock a “neutral” rating in a report on Thursday, November 8th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and twelve have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $51.43.
The Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, October 30th. The company reported $0.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.03. The company had revenue of $8.25 billion during the quarter, compared to the consensus estimate of $8.20 billion. The Coca-Cola had a net margin of 8.70% and a return on equity of 43.12%. The firm’s revenue for the quarter was down 9.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.50 earnings per share. On average, equities research analysts anticipate that The Coca-Cola Co will post 2.08 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be issued a $0.39 dividend. The ex-dividend date is Thursday, November 29th. This represents a $1.56 annualized dividend and a dividend yield of 3.13%. The Coca-Cola’s dividend payout ratio is currently 81.68%.
In other news, SVP James L. Dinkins sold 8,754 shares of the stock in a transaction dated Wednesday, October 24th. The shares were sold at an average price of $46.95, for a total value of $411,000.30. Following the completion of the sale, the senior vice president now owns 28,354 shares in the company, valued at $1,331,220.30. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Brian John Smith sold 43,000 shares of the stock in a transaction dated Wednesday, October 31st. The shares were sold at an average price of $48.00, for a total transaction of $2,064,000.00. Following the completion of the sale, the insider now owns 123,908 shares of the company’s stock, valued at approximately $5,947,584. The disclosure for this sale can be found here. In the last quarter, insiders sold 251,892 shares of company stock valued at $12,299,075. 1.48% of the stock is currently owned by corporate insiders.
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The Coca-Cola Company Profile
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 plantbased 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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