US Bancorp DE Reduces Stake in The Coca-Cola Company (NYSE:KO)

US Bancorp DE cut its holdings in shares of The Coca-Cola Company (NYSE:KO) by 1.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,524,980 shares of the company’s stock after selling 53,685 shares during the period. US Bancorp DE owned 0.10% of Coca-Cola worth $266,657,000 as of its most recent SEC filing.

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

Insider Transactions at Coca-Cola

In other Coca-Cola news, EVP Henrique Braun sold 57,298 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $63.08, for a total value of $3,614,357.84. Following the completion of the sale, the executive vice president now directly owns 52,466 shares in the company, valued at approximately $3,309,555.28. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, EVP Monica Howard Douglas sold 8,874 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $63.31, for a total transaction of $561,812.94. Following the transaction, the executive vice president now owns 33,638 shares of the company’s stock, valued at approximately $2,129,621.78. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Henrique Braun sold 57,298 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $63.08, for a total transaction of $3,614,357.84. Following the sale, the executive vice president now directly owns 52,466 shares in the company, valued at approximately $3,309,555.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 199,389 shares of company stock valued at $12,322,179. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

Shares of KO traded down $0.81 during mid-day trading on Thursday, reaching $62.19. The company had a trading volume of 4,779,379 shares, compared to its average volume of 13,383,354. The Coca-Cola Company has a 52-week low of $51.55 and a 52-week high of $63.76. The stock has a market capitalization of $267.91 billion, a P/E ratio of 24.89, a PEG ratio of 3.57 and a beta of 0.57. The stock has a 50 day moving average of $61.00 and a two-hundred day moving average of $59.83. The company has a quick ratio of 0.86, a current ratio of 1.04 and a debt-to-equity ratio of 1.26.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share (EPS) 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 company had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $11.01 billion. During the same quarter in the prior year, the business posted $0.68 earnings per share. Coca-Cola’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, analysts expect that The Coca-Cola Company will post 2.82 earnings per share for the current year.

Coca-Cola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date is Friday, June 14th. Coca-Cola’s dividend payout ratio (DPR) is 77.60%.

Analyst Ratings Changes

Several research firms have recently weighed in on KO. Barclays boosted their price target on Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. UBS Group upped their target price 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. Argus lifted their price target on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday. Evercore ISI boosted their price objective on shares of Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. raised their target price on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola has a consensus rating of “Moderate Buy” and an average price target of $68.58.

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.