Central Pacific Bank Trust Division Decreases Stock Holdings in The Coca-Cola Company (NYSE:KO)

Central Pacific Bank Trust Division lowered its holdings in The Coca-Cola Company (NYSE:KO) by 31.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,955 shares of the company’s stock after selling 8,064 shares during the period. Central Pacific Bank Trust Division’s holdings in Coca-Cola were worth $1,118,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of KO. Quarry LP bought a new stake in shares of Coca-Cola in the 2nd quarter worth approximately $27,000. Hara Capital LLC purchased a new stake in Coca-Cola in the third quarter worth $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Coca-Cola in the third quarter valued at $36,000. Mount Lucas Management LP purchased a new position in shares of Coca-Cola during the 2nd quarter valued at $38,000. Finally, MidAtlantic Capital Management Inc. bought a new position in shares of Coca-Cola during the 3rd quarter worth $43,000. Institutional investors own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Morgan Stanley dropped their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their price objective for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. Wells Fargo & Company dropped their target price on Coca-Cola from $78.00 to $75.00 and set an “overweight” rating on the stock in a research report on Monday, December 2nd. Finally, Barclays decreased their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and an average price target of $72.50.

Coca-Cola Stock Down 0.1 %

KO stock opened at $61.75 on Friday. The company’s 50 day moving average is $63.47 and its 200 day moving average is $66.53. The stock has a market cap of $266.01 billion, a price-to-earnings ratio of 25.52, a price-to-earnings-growth ratio of 3.83 and a beta of 0.61. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The Coca-Cola Company has a 1-year low of $57.93 and a 1-year high of $73.53.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The firm had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. During the same quarter last year, the company posted $0.74 EPS. The business’s quarterly revenue was down .8% on a year-over-year basis. Sell-side analysts predict that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were given a dividend of $0.485 per share. The ex-dividend date was Friday, November 29th. This represents a $1.94 annualized dividend and a dividend yield of 3.14%. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

Insider Activity at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the transaction, the chief executive officer now owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.97% of the stock is currently owned by insiders.

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.