Camden National Bank Has $368,000 Stock Holdings in The Coca-Cola Company (NYSE:KO)

Camden National Bank cut its position in The Coca-Cola Company (NYSE:KO) by 4.1% during the 4th quarter, HoldingsChannel reports. The firm owned 5,906 shares of the company’s stock after selling 252 shares during the quarter. Camden National Bank’s holdings in Coca-Cola were worth $368,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of KO. Charles Schwab Investment Management Inc. raised its holdings in Coca-Cola by 18.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company’s stock worth $4,617,400,000 after purchasing an additional 11,569,920 shares during the period. FMR LLC raised its holdings in Coca-Cola by 13.7% in the third quarter. FMR LLC now owns 92,961,376 shares of the company’s stock worth $6,680,205,000 after purchasing an additional 11,206,995 shares during the period. Raymond James Financial Inc. acquired a new stake in Coca-Cola in the fourth quarter worth $500,192,000. Wellington Management Group LLP raised its holdings in Coca-Cola by 14.5% in the third quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock worth $2,271,885,000 after purchasing an additional 4,013,996 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Coca-Cola during the third quarter worth $269,382,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Stock Performance

Shares of KO opened at $71.52 on Friday. The firm has a 50-day moving average of $65.36 and a 200-day moving average of $66.60. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53. The company has a market cap of $307.60 billion, a PE ratio of 28.96, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84.

Coca-Cola (NYSE:KO) last announced 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 net margin of 22.59% and a return on equity of 45.37%. As a group, equities analysts forecast that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date is Friday, March 14th. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio (DPR) is 82.59%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on KO shares. UBS Group increased their price objective on shares of Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and increased their price objective for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Evercore ISI increased their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Barclays increased their price objective on shares of Coca-Cola from $66.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Finally, Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and increased their price objective for the stock from $69.00 to $75.00 in a research report on Thursday, January 30th. Two investment 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 stock. According to data from MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and a consensus price target of $74.24.

Insider Activity

In other news, CEO James Quincey sold 145,435 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $71.01, for a total transaction of $10,327,339.35. Following the completion of the sale, the chief executive officer now owns 342,546 shares in the company, valued at approximately $24,324,191.46. This trade represents a 29.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Lisa Chang sold 13,445 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $71.50, for a total transaction of $961,317.50. Following the sale, the executive vice president now owns 94,676 shares of the company’s stock, valued at approximately $6,769,334. This represents a 12.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 232,646 shares of company stock valued at $16,515,469 in the last quarter. Company insiders own 0.97% of the company’s stock.

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.