Providence First Trust Co Has $1.13 Million Holdings in The Coca-Cola Company (NYSE:KO)

Providence First Trust Co decreased its position in The Coca-Cola Company (NYSE:KO) by 1.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 18,180 shares of the company’s stock after selling 200 shares during the period. Providence First Trust Co’s holdings in Coca-Cola were worth $1,132,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Harvest Portfolios Group Inc. bought a new stake in shares of Coca-Cola during the 3rd quarter valued at about $18,383,000. Balentine LLC increased its holdings in Coca-Cola by 92.4% in the third quarter. Balentine LLC now owns 28,493 shares of the company’s stock worth $2,048,000 after purchasing an additional 13,685 shares in the last quarter. Rice Partnership LLC lifted its stake in Coca-Cola by 7.1% in the fourth quarter. Rice Partnership LLC now owns 102,746 shares of the company’s stock valued at $6,397,000 after buying an additional 6,793 shares during the period. Sheaff Brock Investment Advisors LLC boosted its holdings in shares of Coca-Cola by 104.9% during the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock worth $8,351,000 after buying an additional 59,503 shares in the last quarter. Finally, Fiduciary Alliance LLC grew its position in shares of Coca-Cola by 87.7% during the 4th quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock worth $1,132,000 after buying an additional 8,499 shares during the period. Institutional investors own 70.26% of the company’s stock.

Insider Activity at Coca-Cola

In related news, EVP Lisa Chang sold 13,445 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $71.50, for a total value of $961,317.50. Following the completion of the transaction, the executive vice president now directly owns 94,676 shares of the company’s stock, valued at approximately $6,769,334. This trade represents a 12.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nikolaos Koumettis sold 54,708 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $70.96, for a total transaction of $3,882,079.68. Following the sale, the insider now directly owns 246,909 shares in the company, valued at $17,520,662.64. The trade was a 18.14 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 232,646 shares of company stock worth $16,515,469. Company insiders own 0.97% of the company’s stock.

Coca-Cola Stock Up 0.5 %

KO opened at $71.20 on Friday. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53. The company’s 50-day moving average price is $64.53 and its two-hundred day moving average price is $66.53. The stock has a market cap of $306.22 billion, a price-to-earnings ratio of 28.82, a PEG ratio of 3.79 and a beta of 0.61. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. As a group, equities analysts expect 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. Investors of record on Friday, March 14th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.04 annualized dividend and a yield of 2.87%. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio (DPR) is 82.59%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $69.00 target price on shares of Coca-Cola in a research report on Thursday, February 6th. Jefferies Financial Group upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and upped their price objective for the company from $69.00 to $75.00 in a report on Thursday, January 30th. Piper Sandler boosted their price objective on Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Friday. Morgan Stanley raised their price objective on shares of Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Finally, TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.24.

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.