Zhang Financial LLC Reduces Stake in The Coca-Cola Company (NYSE:KO)

Zhang Financial LLC reduced its stake in The Coca-Cola Company (NYSE:KO) by 6.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 10,823 shares of the company’s stock after selling 715 shares during the quarter. Zhang Financial LLC’s holdings in Coca-Cola were worth $638,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the stock. Knights of Columbus Asset Advisors LLC raised its holdings in Coca-Cola by 3.5% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 52,163 shares of the company’s stock worth $3,074,000 after purchasing an additional 1,747 shares during the period. First National Bank & Trust Co. of Newtown raised its holdings in Coca-Cola by 1.6% in the 4th quarter. First National Bank & Trust Co. of Newtown now owns 13,003 shares of the company’s stock worth $766,000 after purchasing an additional 209 shares during the period. Davidson Trust Co. raised its holdings in Coca-Cola by 1.9% in the 4th quarter. Davidson Trust Co. now owns 23,583 shares of the company’s stock worth $1,390,000 after purchasing an additional 450 shares during the period. HTLF Bank bought a new position in Coca-Cola in the 4th quarter worth $1,981,000. Finally, Kellett Wealth Advisors LLC raised its holdings in Coca-Cola by 6.1% in the 4th quarter. Kellett Wealth Advisors LLC now owns 5,492 shares of the company’s stock worth $324,000 after purchasing an additional 318 shares during the period. 70.26% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Nancy Quan sold 57,368 shares of Coca-Cola stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total value of $3,491,990.16. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at $13,594,097.10. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Bruno Pietracci sold 18,551 shares of Coca-Cola stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $59.41, for a total value of $1,102,114.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Nancy Quan sold 57,368 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total value of $3,491,990.16. Following the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $13,594,097.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 375,407 shares of company stock worth $22,795,742. Corporate insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on KO. Barclays raised their price target on Coca-Cola from $66.00 to $68.00 and gave the company an “overweight” rating in a report on Friday, April 12th. JPMorgan Chase & Co. decreased their price target on Coca-Cola from $66.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday. Finally, Citigroup raised their price target on Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and a consensus target price of $67.09.

Coca-Cola Trading Up 2.1 %

Shares of KO stock opened at $60.17 on Friday. The Coca-Cola Company has a 12-month low of $51.55 and a 12-month high of $64.99. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 1.29. The stock’s 50-day moving average price is $59.94 and its 200-day moving average price is $58.56. The stock has a market capitalization of $259.40 billion, a price-to-earnings ratio of 24.26, a price-to-earnings-growth ratio of 3.37 and a beta of 0.59.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, February 13th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.01. Coca-Cola had a return on equity of 42.50% and a net margin of 23.42%. The firm had revenue of $10.80 billion for the quarter, compared to analysts’ expectations of $10.68 billion. During the same period in the previous year, the firm posted $0.45 earnings per share. The business’s revenue was up 6.9% compared to the same quarter last year. Equities research analysts predict that The Coca-Cola Company will post 2.81 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were given a $0.485 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.94 annualized dividend and a yield of 3.22%. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.46. Coca-Cola’s dividend payout ratio (DPR) is currently 78.23%.

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.