The Coca-Cola Company (NYSE:KO) Stock Position Reduced by Park National Corp OH

Park National Corp OH decreased its holdings in shares of The Coca-Cola Company (NYSE:KO) by 9.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 420,369 shares of the company’s stock after selling 45,269 shares during the period. Coca-Cola comprises about 1.1% of Park National Corp OH’s portfolio, making the stock its 28th largest holding. Park National Corp OH’s holdings in Coca-Cola were worth $30,107,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Crowley Wealth Management Inc. bought a new position in Coca-Cola in the 4th quarter worth about $27,000. Mainstream Capital Management LLC bought a new stake in Coca-Cola during the 4th quarter valued at $31,000. REAP Financial Group LLC boosted its position in Coca-Cola by 57.5% during the 4th quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock worth $35,000 after acquiring an additional 208 shares during the period. Murphy & Mullick Capital Management Corp bought a new position in shares of Coca-Cola in the fourth quarter worth $38,000. Finally, Hoey Investments Inc. grew its stake in shares of Coca-Cola by 41.9% in the fourth quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock worth $38,000 after purchasing an additional 181 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Down 0.9%

Shares of Coca-Cola stock opened at $71.14 on Thursday. The stock’s fifty day moving average is $71.23 and its 200-day moving average is $67.14. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The firm has a market capitalization of $306.21 billion, a PE ratio of 28.80, a price-to-earnings-growth ratio of 3.79 and a beta of 0.47. The Coca-Cola Company has a 12-month low of $60.62 and a 12-month high of $74.38.

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

Coca-Cola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a $0.51 dividend. The ex-dividend date is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a yield of 2.87%. Coca-Cola’s payout ratio is 81.60%.

Wall Street Analyst Weigh In

KO has been the topic of a number of recent analyst reports. Royal Bank of Canada lifted their price objective on shares of Coca-Cola from $73.00 to $76.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their target price for the company from $69.00 to $75.00 in a research note on Thursday, January 30th. Evercore ISI upped their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. DZ Bank upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Thursday, February 13th. Finally, Morgan Stanley raised their price objective on shares of Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Coca-Cola currently has an average rating of “Buy” and a consensus target price of $75.81.

Insider Buying and Selling

In related news, EVP Beatriz R. Perez sold 60,326 shares of the business’s stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $71.87, for a total value of $4,335,629.62. Following the completion of the sale, the executive vice president now directly owns 187,716 shares in the company, valued at approximately $13,491,148.92. The trade was a 24.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Henrique Braun sold 25,277 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $71.47, for a total value of $1,806,547.19. Following the transaction, the chief operating officer now owns 52,466 shares in the company, valued at approximately $3,749,745.02. This trade represents a 32.51% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 229,761 shares of company stock worth $16,474,587. Corporate insiders own 0.97% of the company’s stock.

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.