CocaCola Company (The) $KO Shares Sold by Mechanics Bank Trust Department

Mechanics Bank Trust Department lowered its stake in CocaCola Company (The) (NYSE:KO) by 14.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 48,998 shares of the company’s stock after selling 8,537 shares during the period. Mechanics Bank Trust Department’s holdings in CocaCola were worth $3,250,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. 1248 Management LLC bought a new stake in shares of CocaCola in the 1st quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd increased its stake in CocaCola by 5,142.9% during the second quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock valued at $26,000 after purchasing an additional 360 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of CocaCola during the second quarter worth $26,000. GFG Capital LLC bought a new position in shares of CocaCola in the 2nd quarter worth about $34,000. Finally, MMA Asset Management LLC bought a new stake in shares of CocaCola during the 2nd quarter valued at about $34,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at CocaCola

In related news, EVP Nancy Quan sold 31,625 shares of CocaCola stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $71.17, for a total transaction of $2,250,751.25. Following the transaction, the executive vice president directly owned 223,330 shares of the company’s stock, valued at $15,894,396.10. The trade was a 12.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Manuel Arroyo sold 139,689 shares of the company’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $70.80, for a total transaction of $9,889,981.20. Following the completion of the sale, the executive vice president directly owned 58,067 shares of the company’s stock, valued at $4,111,143.60. The trade was a 70.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 225,252 shares of company stock valued at $15,953,007. Corporate insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of CocaCola in a report on Wednesday, October 8th. Evercore ISI restated an “outperform” rating on shares of CocaCola in a research report on Tuesday, October 21st. Cowen reaffirmed a “buy” rating on shares of CocaCola in a research report on Wednesday, October 22nd. Barclays reissued an “overweight” rating on shares of CocaCola in a report on Thursday, October 23rd. Finally, Bank of America lifted their price objective on shares of CocaCola from $78.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $79.08.

CocaCola Stock Performance

KO stock opened at $69.11 on Monday. The company has a 50-day simple moving average of $70.49 and a 200 day simple moving average of $69.35. The company has a market capitalization of $297.30 billion, a P/E ratio of 22.89, a PEG ratio of 3.56 and a beta of 0.39. The company has a quick ratio of 1.00, a current ratio of 1.21 and a debt-to-equity ratio of 1.30. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38.

CocaCola (NYSE:KO) last released its quarterly earnings results on Thursday, March 27th. The company reported $0.55 EPS for the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. The company had revenue of $11.40 billion for the quarter. Sell-side analysts predict that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were issued a $0.51 dividend. The ex-dividend date was Monday, December 1st. This represents a $2.04 annualized dividend and a dividend yield of 3.0%. CocaCola’s dividend payout ratio is 67.55%.

About CocaCola

The Coca‑Cola Company (NYSE: KO) is a global beverage manufacturer, marketer and distributor best known for its flagship Coca‑Cola soda. Headquartered in Atlanta, Georgia, the company develops and sells concentrates, syrups and finished beverages across a broad portfolio of brands. Its product range spans sparkling soft drinks, bottled water, sports drinks, juices, ready‑to‑drink teas and coffees, and other still beverages, marketed under both global and regional brand names.

Coca‑Cola’s brand portfolio includes widely recognized names such as Coca‑Cola, Diet Coke, Coca‑Cola Zero Sugar, Sprite, Fanta, Minute Maid, Powerade and Dasani, and in recent years the company has expanded into the coffee and premium beverage categories through acquisitions such as Costa Coffee.