Capital City Trust Co. FL Cuts Holdings in The Coca-Cola Company (NYSE:KO)

Capital City Trust Co. FL reduced its holdings in The Coca-Cola Company (NYSE:KO) by 0.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 645,069 shares of the company’s stock after selling 3,989 shares during the period. Coca-Cola makes up about 10.0% of Capital City Trust Co. FL’s investment portfolio, making the stock its largest position. Capital City Trust Co. FL’s holdings in Coca-Cola were worth $40,162,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Hara Capital LLC acquired a new stake in Coca-Cola in the 3rd quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Coca-Cola in the 3rd quarter valued at $36,000. Retirement Wealth Solutions LLC acquired a new stake in Coca-Cola in the 4th quarter valued at $37,000. MilWealth Group LLC acquired a new stake in Coca-Cola in the 4th quarter valued at $40,000. Finally, MidAtlantic Capital Management Inc. acquired a new stake in Coca-Cola in the 3rd quarter valued at $43,000. 70.26% of the stock is owned by institutional investors.

Coca-Cola Trading Up 1.9 %

NYSE KO opened at $71.37 on Friday. The stock has a 50-day simple moving average of $63.71 and a 200 day simple moving average of $66.44. The company has a market capitalization of $307.46 billion, a PE ratio of 28.90, a P/E/G ratio of 3.79 and a beta of 0.61. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. Research analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.86%. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Friday, March 14th. Coca-Cola’s payout ratio is presently 78.54%.

Analysts Set New Price Targets

KO has been the topic of several recent analyst reports. Wells Fargo & Company boosted their price target on Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and boosted their price target for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. Piper Sandler cut their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. JPMorgan Chase & Co. cut their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $69.00 price objective on shares of Coca-Cola in a research report on Thursday, February 6th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $73.82.

About Coca-Cola

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.