Moody National Bank Trust Division Sells 937 Shares of The Coca-Cola Company (NYSE:KO)

Moody National Bank Trust Division lessened its position in shares of The Coca-Cola Company (NYSE:KO) by 1.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 55,715 shares of the company’s stock after selling 937 shares during the period. Moody National Bank Trust Division’s holdings in Coca-Cola were worth $3,469,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Quarry LP acquired a new position in Coca-Cola during the 2nd quarter worth approximately $27,000. Hara Capital LLC bought a new position in Coca-Cola in the third quarter valued at about $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Coca-Cola during the third quarter worth about $36,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Coca-Cola in the third quarter valued at approximately $43,000. Finally, ORG Wealth Partners LLC acquired a new stake in Coca-Cola during the 3rd quarter worth approximately $58,000. 70.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Wells Fargo & Company reduced their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research note on Wednesday, January 8th. Barclays dropped their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Finally, Truist Financial lifted their price objective on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Coca-Cola presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.60.

Coca-Cola Stock Up 1.2 %

NYSE KO traded up $0.76 during mid-day trading on Monday, hitting $61.83. The company’s stock had a trading volume of 9,078,329 shares, compared to its average volume of 14,930,507. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The company’s 50 day simple moving average is $62.91 and its 200 day simple moving average is $66.50. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53. The firm has a market capitalization of $266.35 billion, a price-to-earnings ratio of 25.55, a PEG ratio of 3.83 and a beta of 0.61.

Coca-Cola (NYSE:KO) last posted its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The company had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. During the same period in the previous year, the firm posted $0.74 earnings per share. The firm’s revenue for the quarter was down .8% on a year-over-year basis. Analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 3.14%. The ex-dividend date was Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

Insiders Place Their Bets

In other news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the completion of the transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.97% of the stock is currently owned by insiders.

Coca-Cola Company Profile

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.