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

Exchange Bank trimmed its holdings in shares of The Coca-Cola Company (NYSE:KO) by 1.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 30,473 shares of the company’s stock after selling 374 shares during the period. Coca-Cola makes up approximately 1.8% of Exchange Bank’s investment portfolio, making the stock its 16th largest holding. Exchange Bank’s holdings in Coca-Cola were worth $2,182,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Crowley Wealth Management Inc. bought a new position in Coca-Cola during the fourth quarter valued at about $27,000. Mainstream Capital Management LLC bought a new position in Coca-Cola during the fourth quarter valued at about $31,000. REAP Financial Group LLC boosted its position in shares of Coca-Cola by 57.5% in the 4th quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock valued at $35,000 after purchasing an additional 208 shares during the period. Murphy & Mullick Capital Management Corp acquired a new position in shares of Coca-Cola in the 4th quarter valued at $38,000. Finally, Hoey Investments Inc. boosted its position in shares of Coca-Cola by 41.9% in the 4th quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock valued at $38,000 after purchasing an additional 181 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Stock Down 0.4%

Shares of Coca-Cola stock opened at $72.03 on Thursday. The firm has a market cap of $310.02 billion, a price-to-earnings ratio of 29.16, a P/E/G ratio of 3.79 and a beta of 0.46. 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 Coca-Cola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The stock has a 50-day simple moving average of $71.42 and a 200-day simple moving average of $67.74.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.02. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The firm had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.23 billion. During the same period in the previous year, the company earned $0.72 EPS. The company’s revenue for the quarter was down .7% on a year-over-year basis. On average, equities research analysts expect that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a $0.51 dividend. The ex-dividend date is Friday, June 13th. This represents a $2.04 annualized dividend and a yield of 2.83%. Coca-Cola’s dividend payout ratio (DPR) is currently 81.60%.

Analysts Set New Price Targets

A number of research firms recently weighed in on KO. JPMorgan Chase & Co. increased their price target on Coca-Cola from $74.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, April 21st. UBS Group increased their price target on Coca-Cola from $84.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, April 30th. Morgan Stanley reiterated an “overweight” rating and issued a $81.00 price target on shares of Coca-Cola in a research report on Monday. Wells Fargo & Company increased their price target on Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Finally, DZ Bank upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $76.00.

Insider Buying and Selling

In other Coca-Cola news, CEO James Quincey sold 266,403 shares of Coca-Cola stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $72.06, for a total value of $19,197,000.18. Following the transaction, the chief executive officer now directly owns 275,946 shares of the company’s stock, valued at $19,884,668.76. The trade was a 49.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO John Murphy sold 88,658 shares of Coca-Cola stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total value of $6,391,355.22. Following the completion of the transaction, the chief financial officer now directly owns 205,511 shares in the company, valued at approximately $14,815,287.99. This represents a 30.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 415,387 shares of company stock worth $29,923,985. 0.97% of the stock is currently owned by insiders.

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.