Cullen Frost Bankers Inc. Sells 41,081 Shares of The Coca-Cola Company (NYSE:KO)

Cullen Frost Bankers Inc. decreased its holdings in The Coca-Cola Company (NYSE:KO) by 5.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 732,686 shares of the company’s stock after selling 41,081 shares during the period. Cullen Frost Bankers Inc.’s holdings in Coca-Cola were worth $43,177,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KO. ZRC Wealth Management LLC boosted its stake in shares of Coca-Cola by 213.3% during the 4th quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock worth $26,000 after purchasing an additional 320 shares during the period. Criterion Capital Advisors LLC bought a new position in shares of Coca-Cola during the fourth quarter valued at approximately $30,000. Pacific Capital Wealth Advisors Inc. purchased a new stake in shares of Coca-Cola in the fourth quarter worth approximately $32,000. Financial Connections Group Inc. purchased a new stake in shares of Coca-Cola in the fourth quarter worth approximately $38,000. Finally, Avion Wealth lifted its stake in shares of Coca-Cola by 64.8% during the 4th quarter. Avion Wealth now owns 819 shares of the company’s stock worth $48,000 after acquiring an additional 322 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Transactions at Coca-Cola

In other news, CEO James Quincey sold 247,188 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the transaction, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at $26,968,753.24. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Coca-Cola news, CEO James Quincey sold 247,188 shares of the firm’s stock in a transaction dated 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 filing with the SEC, which is available through this hyperlink. Also, EVP Nancy Quan sold 57,368 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total transaction of $3,491,990.16. Following the transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $13,594,097.10. The disclosure for this sale can be found here. Insiders have sold a total of 380,405 shares of company stock valued at $23,209,645 in the last 90 days. Insiders own 0.97% of the company’s stock.

Coca-Cola Stock Up 0.4 %

NYSE:KO traded up $0.27 during trading hours on Tuesday, reaching $62.62. The company’s stock had a trading volume of 9,792,168 shares, compared to its average volume of 13,919,606. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 1.04. The company has a market capitalization of $269.74 billion, a P/E ratio of 25.05, a price-to-earnings-growth ratio of 3.53 and a beta of 0.57. The stock has a 50 day moving average price of $60.32 and a two-hundred day moving average price of $59.30. The Coca-Cola Company has a 12 month low of $51.55 and a 12 month high of $64.25.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. The firm had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $11.01 billion. During the same period in the prior year, the business posted $0.68 EPS. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. Equities analysts predict that The Coca-Cola Company will post 2.82 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date is Friday, June 14th. Coca-Cola’s dividend payout ratio is currently 77.60%.

Analyst Upgrades and Downgrades

KO has been the topic of several research analyst reports. JPMorgan Chase & Co. upped their price objective on Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Citigroup raised their price target on shares of Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Barclays boosted their price objective on shares of Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Evercore ISI raised their target price on shares of Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Finally, UBS Group lifted their price target on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.27.

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.