The Coca-Cola Company (NYSE:KO) Shares Sold by Security National Bank of SO Dak

Security National Bank of SO Dak cut its holdings in shares of The Coca-Cola Company (NYSE:KO) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,125 shares of the company’s stock after selling 174 shares during the period. Security National Bank of SO Dak’s holdings in Coca-Cola were worth $1,502,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Norges Bank purchased a new stake in shares of Coca-Cola during the fourth quarter worth about $3,402,151,000. Capital International Investors raised its position in shares of Coca-Cola by 96.0% in the 4th quarter. Capital International Investors now owns 24,949,194 shares of the company’s stock valued at $1,553,337,000 after purchasing an additional 12,222,885 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Coca-Cola by 18.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company’s stock worth $4,617,400,000 after purchasing an additional 11,569,920 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Coca-Cola during the 4th quarter worth approximately $500,192,000. Finally, Franklin Resources Inc. increased its stake in Coca-Cola by 21.9% during the 4th quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company’s stock valued at $2,123,301,000 after purchasing an additional 6,118,819 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Activity at Coca-Cola

In other news, CFO John Murphy sold 88,658 shares of the company’s stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total value of $6,391,355.22. Following the transaction, the chief financial officer now directly owns 205,511 shares in the company, valued at approximately $14,815,287.99. This represents a 30.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Nikolaos Koumettis sold 54,708 shares of Coca-Cola stock in a transaction that occurred 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 completion of the sale, the insider now owns 246,909 shares of the company’s stock, valued at $17,520,662.64. This trade represents a 18.14% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 462,407 shares of company stock worth $32,990,056. Insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Evercore ISI boosted their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Piper Sandler lifted their price target on Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Cfra Research raised Coca-Cola to a “strong-buy” rating in a report on Tuesday, April 15th. Jefferies Financial Group upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their price objective for the company from $69.00 to $75.00 in a research note on Thursday, January 30th. Finally, UBS Group lifted their price objective on Coca-Cola from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, April 30th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $75.59.

Coca-Cola Stock Performance

NYSE KO opened at $71.50 on Friday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The stock’s fifty day moving average is $70.86 and its two-hundred day moving average is $66.72. The firm has a market capitalization of $307.76 billion, a P/E ratio of 28.95, a price-to-earnings-growth ratio of 3.79 and a beta of 0.47. The Coca-Cola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. The firm had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.23 billion. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. Coca-Cola’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.72 earnings per share. On average, research analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola’s payout ratio is presently 81.60%.

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.