The Coca-Cola Company (NYSE:KO) Shares Sold by Tompkins Financial Corp

Tompkins Financial Corp reduced its holdings in The Coca-Cola Company (NYSE:KO) by 0.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,391 shares of the company’s stock after selling 376 shares during the quarter. Tompkins Financial Corp’s holdings in Coca-Cola were worth $2,854,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Fairfield Bush & CO. acquired a new stake in Coca-Cola during the first quarter worth about $77,000. Merit Financial Group LLC increased its stake in Coca-Cola by 16.7% during the first quarter. Merit Financial Group LLC now owns 12,227 shares of the company’s stock worth $758,000 after acquiring an additional 1,754 shares during the last quarter. NewEdge Advisors LLC increased its stake in Coca-Cola by 41.4% during the first quarter. NewEdge Advisors LLC now owns 149,275 shares of the company’s stock worth $9,255,000 after acquiring an additional 43,680 shares during the last quarter. Ergoteles LLC increased its stake in Coca-Cola by 385.3% during the first quarter. Ergoteles LLC now owns 19,032 shares of the company’s stock worth $1,180,000 after acquiring an additional 15,110 shares during the last quarter. Finally, Mackenzie Financial Corp increased its stake in Coca-Cola by 11.9% during the first quarter. Mackenzie Financial Corp now owns 2,840,557 shares of the company’s stock worth $176,115,000 after acquiring an additional 301,804 shares during the last quarter. 68.96% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Stock Down 0.3 %

KO traded down $0.20 on Tuesday, reaching $58.10. The company’s stock had a trading volume of 2,560,577 shares, compared to its average volume of 13,099,014. The stock has a market cap of $251.24 billion, a price-to-earnings ratio of 23.99, a price-to-earnings-growth ratio of 3.40 and a beta of 0.55. The Coca-Cola Company has a 1 year low of $54.01 and a 1 year high of $64.99. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.14 and a quick ratio of 0.95. The business’s 50 day moving average is $60.49 and its 200 day moving average is $61.25.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Wednesday, July 26th. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. The firm had revenue of $12 billion during the quarter, compared to the consensus estimate of $11.74 billion. Coca-Cola had a return on equity of 43.06% and a net margin of 23.81%. Coca-Cola’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.70 earnings per share. As a group, research analysts forecast that The Coca-Cola Company will post 2.63 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date is Thursday, September 14th. Coca-Cola’s dividend payout ratio is presently 75.72%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on KO shares. Wedbush upped their price target on Coca-Cola from $70.00 to $71.00 and gave the stock an “outperform” rating in a research note on Thursday, July 27th. HSBC dropped their price target on Coca-Cola from $77.00 to $74.00 in a research note on Wednesday, June 7th. Royal Bank of Canada upped their target price on Coca-Cola from $69.00 to $70.00 in a research report on Thursday, July 27th. Barclays upped their target price on Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, July 28th. Finally, StockNews.com assumed coverage on Coca-Cola in a research report on Thursday, August 17th. They issued a “buy” rating for the company. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.33.

Insiders Place Their Bets

In other Coca-Cola news, SVP Beatriz R. Perez sold 50,000 shares of the stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $62.66, for a total transaction of $3,133,000.00. Following the transaction, the senior vice president now owns 143,383 shares of the company’s stock, valued at approximately $8,984,378.78. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CFO John Murphy sold 156,290 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $62.10, for a total transaction of $9,705,609.00. Following the sale, the chief financial officer now directly owns 228,830 shares in the company, valued at approximately $14,210,343. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Beatriz R. Perez sold 50,000 shares of the stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $62.66, for a total value of $3,133,000.00. Following the sale, the senior vice president now owns 143,383 shares in the company, valued at $8,984,378.78. The disclosure for this sale can be found here. Insiders have sold a total of 227,364 shares of company stock valued at $14,122,016 in the last quarter. Insiders own 1.00% of the company’s stock.

Coca-Cola 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.