Zurcher Kantonalbank Zurich Cantonalbank Cuts Stock Position in The Coca-Cola Company (NYSE:KO)

Zurcher Kantonalbank Zurich Cantonalbank cut its holdings in The Coca-Cola Company (NYSE:KO) by 15.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,639,250 shares of the company’s stock after selling 295,054 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Coca-Cola were worth $96,601,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in KO. Castleview Partners LLC increased its holdings in shares of Coca-Cola by 4.4% in the 1st quarter. Castleview Partners LLC now owns 3,973 shares of the company’s stock valued at $246,000 after acquiring an additional 167 shares during the last quarter. Enterprise Bank & Trust Co increased its holdings in shares of Coca-Cola by 3.4% in the 4th quarter. Enterprise Bank & Trust Co now owns 5,021 shares of the company’s stock valued at $296,000 after acquiring an additional 167 shares during the last quarter. Elk River Wealth Management LLC increased its holdings in shares of Coca-Cola by 1.6% in the 4th quarter. Elk River Wealth Management LLC now owns 10,838 shares of the company’s stock valued at $639,000 after acquiring an additional 170 shares during the last quarter. KRS Capital Management LLC increased its holdings in shares of Coca-Cola by 3.8% in the 4th quarter. KRS Capital Management LLC now owns 4,645 shares of the company’s stock valued at $274,000 after acquiring an additional 170 shares during the last quarter. Finally, Somerville Kurt F increased its holdings in shares of Coca-Cola by 0.8% in the 1st quarter. Somerville Kurt F now owns 21,377 shares of the company’s stock valued at $1,325,000 after acquiring an additional 172 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Citigroup raised their price target on Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Barclays raised their price target on Coca-Cola from $66.00 to $68.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, JPMorgan Chase & Co. raised their price target on Coca-Cola from $64.00 to $66.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 14th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average target price of $67.18.

Coca-Cola Stock Performance

Shares of KO stock traded down $0.09 during midday trading on Tuesday, hitting $58.05. The company had a trading volume of 11,233,388 shares, compared to its average volume of 13,817,294. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.13 and a quick ratio of 0.95. The company’s 50 day simple moving average is $60.01 and its 200 day simple moving average is $58.51. The stock has a market cap of $250.26 billion, a price-to-earnings ratio of 23.45, a PEG ratio of 3.31 and a beta of 0.59. The Coca-Cola Company has a 52-week low of $51.55 and a 52-week high of $64.99.

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

Coca-Cola Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were given a dividend of $0.485 per share. This is an increase from Coca-Cola’s previous quarterly dividend of $0.46. The ex-dividend date was Thursday, March 14th. This represents a $1.94 annualized dividend and a yield of 3.34%. Coca-Cola’s dividend payout ratio (DPR) is presently 78.23%.

Insiders Place Their Bets

In other news, EVP Nancy Quan sold 57,368 shares of Coca-Cola stock in a transaction on 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 sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $13,594,097.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO James Quincey sold 247,188 shares of Coca-Cola stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total value of $15,063,636.72. Following the completion of the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $26,968,753.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Nancy Quan sold 57,368 shares of Coca-Cola stock in a transaction 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 completion of the sale, the executive vice president now directly 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 90 days, insiders sold 375,407 shares of company stock valued at $22,795,742. Corporate insiders own 0.97% of the company’s stock.

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.