The Coca-Cola Company (NYSE:KO) Shares Sold by Bank of Hawaii

Bank of Hawaii reduced its stake in shares of The Coca-Cola Company (NYSE:KO) by 3.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 55,101 shares of the company’s stock after selling 2,064 shares during the quarter. Bank of Hawaii’s holdings in Coca-Cola were worth $3,431,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KO. Scotia Capital Inc. grew its position in shares of Coca-Cola by 9.4% in the fourth quarter. Scotia Capital Inc. now owns 541,707 shares of the company’s stock valued at $33,732,000 after purchasing an additional 46,325 shares during the last quarter. F M Investments LLC grew its position in shares of Coca-Cola by 1.2% in the fourth quarter. F M Investments LLC now owns 521,173 shares of the company’s stock valued at $32,448,000 after purchasing an additional 6,025 shares during the last quarter. CenterBook Partners LP grew its position in shares of Coca-Cola by 62.1% in the fourth quarter. CenterBook Partners LP now owns 191,733 shares of the company’s stock valued at $11,937,000 after purchasing an additional 73,471 shares during the last quarter. DRW Securities LLC grew its position in shares of Coca-Cola by 294.8% in the fourth quarter. DRW Securities LLC now owns 17,153 shares of the company’s stock valued at $1,068,000 after purchasing an additional 12,808 shares during the last quarter. Finally, TRUE Private Wealth Advisors grew its position in shares of Coca-Cola by 262.3% in the fourth quarter. TRUE Private Wealth Advisors now owns 17,298 shares of the company’s stock valued at $1,077,000 after purchasing an additional 12,523 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on KO shares. Wells Fargo & Company increased their price target on shares of Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Evercore ISI upped their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Piper Sandler upped their price objective on shares of Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and upped their price objective for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. Finally, DZ Bank raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research note on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Coca-Cola has a consensus rating of “Moderate Buy” and an average target price of $74.24.

Insider Activity

In related news, EVP Lisa Chang sold 13,445 shares of Coca-Cola stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $71.50, for a total transaction of $961,317.50. Following the transaction, the executive vice president now owns 94,676 shares of the company’s stock, valued at $6,769,334. This trade represents a 12.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nikolaos Koumettis sold 54,708 shares of Coca-Cola stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $70.96, for a total transaction of $3,882,079.68. Following the transaction, the insider now directly owns 246,909 shares in the company, valued at $17,520,662.64. The trade was a 18.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 313,423 shares of company stock worth $22,263,071 over the last 90 days. 0.97% of the stock is owned by company insiders.

Coca-Cola Stock Performance

Shares of KO stock opened at $69.75 on Thursday. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.95. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. The firm has a market capitalization of $300.15 billion, a P/E ratio of 28.24, a P/E/G ratio of 3.79 and a beta of 0.45. The company’s fifty day moving average price is $69.27 and its two-hundred day moving average price is $66.36.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. On average, research analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a yield of 2.92%. Coca-Cola’s dividend payout ratio is currently 82.59%.

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.