The Coca-Cola Company (NYSE:KO) Shares Purchased by Independence Bank of Kentucky

Independence Bank of Kentucky boosted its stake in shares of The Coca-Cola Company (NYSE:KO) by 5.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 39,363 shares of the company’s stock after acquiring an additional 2,015 shares during the quarter. Coca-Cola accounts for 0.7% of Independence Bank of Kentucky’s holdings, making the stock its 27th largest position. Independence Bank of Kentucky’s holdings in Coca-Cola were worth $2,408,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Tidemark LLC acquired a new stake in Coca-Cola in the fourth quarter valued at approximately $26,000. Private Wealth Management Group LLC acquired a new stake in Coca-Cola in the 4th quarter valued at $27,000. ZRC Wealth Management LLC increased its holdings in Coca-Cola by 213.3% in the 4th quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock worth $26,000 after acquiring an additional 320 shares in the last quarter. Criterion Capital Advisors LLC acquired a new position in Coca-Cola during the fourth quarter worth $30,000. Finally, Frazier Financial Advisors LLC purchased a new position in Coca-Cola during the fourth quarter valued at $31,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on KO. Argus upped their price target on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Evercore ISI raised their target price on Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. JPMorgan Chase & Co. boosted their price target on Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. UBS Group raised their price objective on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, StockNews.com cut shares of Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and an average target price of $68.83.

Coca-Cola Trading Down 0.4 %

KO stock traded down $0.26 during trading on Friday, reaching $63.65. 17,358,827 shares of the stock were exchanged, compared to its average volume of 11,241,235. The company has a current ratio of 1.04, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $274.20 billion, a price-to-earnings ratio of 25.46, a P/E/G ratio of 3.61 and a beta of 0.59. The business has a 50 day moving average price of $62.72 and a 200-day moving average price of $60.77. The Coca-Cola Company has a 1 year low of $51.55 and a 1 year high of $64.36.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.70 by $0.02. The firm had revenue of $11.30 billion for the quarter, compared to analyst estimates of $11.01 billion. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.68 EPS. On average, research analysts predict that The Coca-Cola Company will post 2.82 earnings per share for the current year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend is Friday, June 14th. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Insider Transactions at Coca-Cola

In other Coca-Cola news, insider Nikolaos Koumettis sold 80,891 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $62.34, for a total value of $5,042,744.94. Following the transaction, the insider now owns 218,880 shares of the company’s stock, valued at $13,644,979.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Nikolaos Koumettis sold 80,891 shares of Coca-Cola stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $62.34, for a total value of $5,042,744.94. Following the completion of the sale, the insider now owns 218,880 shares in the company, valued at approximately $13,644,979.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Beatriz R. Perez sold 57,298 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $61.99, for a total value of $3,551,903.02. Following the completion of the sale, the executive vice president now directly owns 167,107 shares in the company, valued at approximately $10,358,962.93. The disclosure for this sale can be found here. In the last ninety days, insiders sold 223,665 shares of company stock worth $13,995,465. 0.97% of the stock is currently owned by company insiders.

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.