Massmutual Trust Co. FSB ADV Reduces Position in The Coca-Cola Co (NYSE:KO)

Massmutual Trust Co. FSB ADV lessened its holdings in shares of The Coca-Cola Co (NYSE:KO) by 0.6% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 73,460 shares of the company’s stock after selling 456 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in The Coca-Cola were worth $3,741,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Krane Funds Advisors LLC bought a new stake in shares of The Coca-Cola during the second quarter valued at approximately $25,000. Prime Capital Investment Advisors LLC bought a new stake in shares of The Coca-Cola during the first quarter valued at approximately $28,000. LFA Lugano Financial Advisors SA raised its stake in shares of The Coca-Cola by 348.8% during the second quarter. LFA Lugano Financial Advisors SA now owns 552 shares of the company’s stock valued at $28,000 after acquiring an additional 429 shares in the last quarter. Financial Gravity Wealth Inc. bought a new stake in shares of The Coca-Cola during the first quarter valued at approximately $35,000. Finally, Redhawk Wealth Advisors Inc. bought a new position in The Coca-Cola in the second quarter worth approximately $36,000. Institutional investors and hedge funds own 67.48% of the company’s stock.

A number of brokerages recently commented on KO. Royal Bank of Canada reissued a “buy” rating and issued a $60.00 price objective on shares of The Coca-Cola in a research note on Wednesday, July 24th. Atlantic Securities began coverage on shares of The Coca-Cola in a research note on Monday, July 29th. They issued an “overweight” rating and a $62.00 price objective for the company. JPMorgan Chase & Co. boosted their price objective on shares of The Coca-Cola from $50.00 to $59.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Morgan Stanley set a $60.00 price objective on shares of The Coca-Cola and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Finally, Bank of America reissued a “buy” rating and issued a $60.00 price objective (up previously from $55.00) on shares of The Coca-Cola in a research note on Wednesday, July 24th. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $54.26.

Shares of KO stock traded down $0.13 during trading hours on Wednesday, reaching $54.11. 109,979 shares of the company’s stock were exchanged, compared to its average volume of 10,269,540. The stock’s 50 day moving average is $54.03 and its 200-day moving average is $50.23. The company has a market cap of $232.02 billion, a price-to-earnings ratio of 26.01, a P/E/G ratio of 3.77 and a beta of 0.44. The company has a current ratio of 0.83, a quick ratio of 0.71 and a debt-to-equity ratio of 1.44. The Coca-Cola Co has a fifty-two week low of $44.25 and a fifty-two week high of $55.92.

The Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. The business had revenue of $10 billion for the quarter, compared to the consensus estimate of $9.86 billion. The Coca-Cola had a return on equity of 45.67% and a net margin of 21.11%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.61 earnings per share. Equities analysts anticipate that The Coca-Cola Co will post 2.1 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend is Friday, September 13th. The Coca-Cola’s payout ratio is presently 76.92%.

In other news, SVP Beatriz R. Perez sold 14,000 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $53.40, for a total transaction of $747,600.00. Following the transaction, the senior vice president now directly owns 108,457 shares of the company’s stock, valued at $5,791,603.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Nikolaos Koumettis sold 146,000 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $54.31, for a total transaction of $7,929,260.00. Following the sale, the insider now directly owns 244,451 shares in the company, valued at $13,276,133.81. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 429,638 shares of company stock worth $23,411,372. Insiders own 1.33% of the company’s stock.

The Coca-Cola Profile

The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plant–based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

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Institutional Ownership by Quarter for The Coca-Cola (NYSE:KO)

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