Keybank National Association OH Cuts Stock Position in The Coca-Cola Company (NYSE:KO)

Keybank National Association OH decreased its holdings in shares of The Coca-Cola Company (NYSE:KO) by 0.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,152,727 shares of the company’s stock after selling 2,280 shares during the period. Keybank National Association OH’s holdings in Coca-Cola were worth $71,769,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Hara Capital LLC purchased a new position in Coca-Cola in the 3rd quarter valued at $35,000. Mainstream Capital Management LLC acquired a new stake in Coca-Cola in the 4th quarter valued at about $31,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Coca-Cola in the third quarter valued at approximately $43,000. Retirement Wealth Solutions LLC acquired a new position in shares of Coca-Cola during the 4th quarter valued at about $37,000. Finally, MilWealth Group LLC acquired a new stake in Coca-Cola during the fourth quarter worth about $40,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Trading Up 1.5 %

NYSE KO opened at $72.29 on Tuesday. The firm’s fifty day moving average price is $64.73 and its 200 day moving average price is $66.52. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. The company has a market capitalization of $310.92 billion, a price-to-earnings ratio of 29.27, a price-to-earnings-growth ratio of 3.79 and a beta of 0.61.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. On average, sell-side analysts expect that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.51 per share. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend is Friday, March 14th. Coca-Cola’s dividend payout ratio is presently 82.59%.

Insider Buying and Selling at Coca-Cola

In related news, EVP Lisa Chang sold 13,445 shares of Coca-Cola stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $71.50, for a total value of $961,317.50. Following the completion of the sale, the executive vice president now owns 94,676 shares in the company, valued at approximately $6,769,334. The trade was a 12.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James Quincey sold 145,435 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total transaction of $10,327,339.35. Following the sale, the chief executive officer now owns 342,546 shares in the company, valued at approximately $24,324,191.46. This trade represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 232,646 shares of company stock valued at $16,515,469. Insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Evercore ISI raised their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. DZ Bank upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research report on Thursday, February 13th. Morgan Stanley increased their price objective on shares of Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Piper Sandler upped their price target on Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and increased their target price for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $74.24.

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.