The Coca-Cola Company (NYSE:KO) Holdings Raised by Norwood Financial Corp

Norwood Financial Corp boosted its stake in The Coca-Cola Company (NYSE:KO) by 7.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,563 shares of the company’s stock after buying an additional 528 shares during the quarter. Norwood Financial Corp’s holdings in Coca-Cola were worth $463,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Enterprise Bank & Trust Co raised its position in shares of Coca-Cola by 3.4% in the fourth quarter. Enterprise Bank & Trust Co now owns 5,021 shares of the company’s stock valued at $296,000 after purchasing an additional 167 shares during the period. Goelzer Investment Management Inc. raised its position in shares of Coca-Cola by 1.8% in the fourth quarter. Goelzer Investment Management Inc. now owns 9,681 shares of the company’s stock valued at $571,000 after purchasing an additional 169 shares during the period. Elk River Wealth Management LLC raised its position in shares of Coca-Cola by 1.6% in the fourth quarter. Elk River Wealth Management LLC now owns 10,838 shares of the company’s stock valued at $639,000 after purchasing an additional 170 shares during the period. KRS Capital Management LLC raised its position in shares of Coca-Cola by 3.8% in the fourth quarter. KRS Capital Management LLC now owns 4,645 shares of the company’s stock valued at $274,000 after purchasing an additional 170 shares during the period. Finally, Wayfinding Financial LLC raised its position in shares of Coca-Cola by 1.8% in the fourth quarter. Wayfinding Financial LLC now owns 9,734 shares of the company’s stock valued at $573,000 after purchasing an additional 175 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insiders Place Their Bets

In other Coca-Cola news, insider Nikolaos Koumettis sold 80,891 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $62.34, for a total transaction of $5,042,744.94. Following the completion of the transaction, the insider now owns 218,880 shares in the company, valued at approximately $13,644,979.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Coca-Cola news, insider Nikolaos Koumettis sold 80,891 shares of the business’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $62.34, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Beatriz R. Perez sold 57,298 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the sale, the executive vice president now owns 167,107 shares of the company’s stock, valued at approximately $10,358,962.93. The disclosure for this sale can be found here. In the last 90 days, insiders sold 223,665 shares of company stock worth $13,995,465. 0.97% of the stock is currently owned by insiders.

Coca-Cola Price Performance

Shares of KO traded down $0.26 during mid-day trading on Friday, reaching $63.65. The company had a trading volume of 17,357,860 shares, compared to its average volume of 13,125,760. The company’s 50 day simple moving average is $62.72 and its 200 day simple moving average is $60.77. The Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $64.36. 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 $274.20 billion, a price-to-earnings ratio of 25.46, a P/E/G ratio of 3.62 and a beta of 0.59.

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

Coca-Cola Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a dividend of $0.485 per share. The ex-dividend date is Friday, June 14th. This represents a $1.94 annualized dividend and a yield of 3.05%. Coca-Cola’s payout ratio is 77.60%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on KO shares. BNP Paribas started coverage on shares of Coca-Cola in a research note on Monday. They issued an “outperform” rating and a $72.00 price target on the stock. Morgan Stanley upped their price target on shares of Coca-Cola from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, June 10th. Evercore ISI upped their price target on shares of Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Barclays upped their price target on shares of Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Finally, JPMorgan Chase & Co. upped their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average target price of $68.83.

About Coca-Cola

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.