Independence Bank of Kentucky Has $3.59 Million Stock Holdings in CocaCola Company (The) $KO

Independence Bank of Kentucky boosted its holdings in shares of CocaCola Company (The) (NYSE:KO) by 33.1% during the third quarter, HoldingsChannel reports. The fund owned 54,059 shares of the company’s stock after purchasing an additional 13,430 shares during the quarter. Independence Bank of Kentucky’s holdings in CocaCola were worth $3,585,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in KO. 1248 Management LLC bought a new stake in CocaCola during the first quarter valued at $26,000. Caitong International Asset Management Co. Ltd boosted its holdings in CocaCola by 5,142.9% in the second quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock worth $26,000 after acquiring an additional 360 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of CocaCola in the 2nd quarter worth $26,000. GFG Capital LLC acquired a new position in shares of CocaCola during the second quarter valued at about $34,000. Finally, MMA Asset Management LLC acquired a new stake in shares of CocaCola in the 2nd quarter worth about $34,000. 70.26% of the stock is currently owned by institutional investors.

Insider Activity at CocaCola

In other CocaCola news, EVP Manuel Arroyo sold 139,689 shares of the stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $70.80, for a total value of $9,889,981.20. Following the completion of the sale, the executive vice president owned 58,067 shares in the company, valued at approximately $4,111,143.60. This trade represents a 70.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Max R. Levchin acquired 7,206 shares of the business’s stock in a transaction dated Friday, October 24th. The stock was acquired at an average price of $69.87 per share, for a total transaction of $503,483.22. Following the completion of the transaction, the director owned 14,267 shares in the company, valued at approximately $996,835.29. The trade was a 102.05% increase in their position. The SEC filing for this purchase provides additional information. Insiders sold a total of 225,252 shares of company stock valued at $15,953,007 in the last quarter. 0.97% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on KO. Barclays reaffirmed an “overweight” rating on shares of CocaCola in a research report on Thursday, October 23rd. Weiss Ratings restated a “buy (b-)” rating on shares of CocaCola in a research note on Wednesday, October 8th. Cowen reiterated a “buy” rating on shares of CocaCola in a report on Wednesday, October 22nd. Wells Fargo & Company lifted their target price on CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Finally, Bank of America raised their price objective on shares of CocaCola from $78.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $79.08.

CocaCola Price Performance

Shares of NYSE KO opened at $70.10 on Friday. The stock has a market cap of $301.53 billion, a PE ratio of 23.21, a price-to-earnings-growth ratio of 3.91 and a beta of 0.39. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The stock has a fifty day moving average of $70.26 and a 200-day moving average of $69.46. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.00 and a current ratio of 1.21.

CocaCola (NYSE:KO) last issued its quarterly earnings data on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. CocaCola had a return on equity of 43.62% and a net margin of 27.34%.The company had revenue of $11.40 billion for the quarter. Equities research analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were issued a $0.51 dividend. The ex-dividend date was Monday, December 1st. This represents a $2.04 annualized dividend and a dividend yield of 2.9%. CocaCola’s payout ratio is currently 67.55%.

About CocaCola

The Coca‑Cola Company (NYSE: KO) is a global beverage manufacturer, marketer and distributor best known for its flagship Coca‑Cola soda. Headquartered in Atlanta, Georgia, the company develops and sells concentrates, syrups and finished beverages across a broad portfolio of brands. Its product range spans sparkling soft drinks, bottled water, sports drinks, juices, ready‑to‑drink teas and coffees, and other still beverages, marketed under both global and regional brand names.

Coca‑Cola’s brand portfolio includes widely recognized names such as Coca‑Cola, Diet Coke, Coca‑Cola Zero Sugar, Sprite, Fanta, Minute Maid, Powerade and Dasani, and in recent years the company has expanded into the coffee and premium beverage categories through acquisitions such as Costa Coffee.