First Citizens Bank & Trust Co. Has $11.37 Million Stake in The Coca-Cola Company (NYSE:KO)

First Citizens Bank & Trust Co. lessened its holdings in The Coca-Cola Company (NYSE:KO) by 1.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 182,611 shares of the company’s stock after selling 3,017 shares during the period. First Citizens Bank & Trust Co.’s holdings in Coca-Cola were worth $11,369,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Quarry LP acquired a new stake in shares of Coca-Cola during the 2nd quarter valued at $27,000. Hara Capital LLC acquired a new stake in Coca-Cola during the third quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in Coca-Cola in the third quarter valued at about $36,000. Retirement Wealth Solutions LLC acquired a new position in Coca-Cola in the 4th quarter worth about $37,000. Finally, MidAtlantic Capital Management Inc. acquired a new stake in shares of Coca-Cola during the 3rd quarter valued at about $43,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Wednesday, January 8th. Piper Sandler lowered their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Thursday. UBS Group reduced their price target on Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Morgan Stanley lowered their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Finally, Truist Financial boosted their target price on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $72.07.

Coca-Cola Trading Up 0.7 %

Shares of KO opened at $61.98 on Friday. The stock’s 50-day moving average price is $62.62 and its 200 day moving average price is $66.36. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. The firm has a market capitalization of $267.01 billion, a price-to-earnings ratio of 25.61, a P/E/G ratio of 3.38 and a beta of 0.61.

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

Insider Activity

In other news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the transaction, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at $21,933,220.38. The trade was a 22.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.97% 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.