Keybank National Association OH Sells 2,280 Shares of The Coca-Cola Company (NYSE:KO)

Keybank National Association OH trimmed its position in The Coca-Cola Company (NYSE:KO) by 0.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,152,727 shares of the company’s stock after selling 2,280 shares during the period. Keybank National Association OH’s holdings in Coca-Cola were worth $71,769,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Hara Capital LLC acquired a new stake in Coca-Cola in the 3rd quarter valued at $35,000. Mainstream Capital Management LLC acquired a new stake in Coca-Cola during the fourth quarter worth approximately $31,000. MidAtlantic Capital Management Inc. acquired a new stake in Coca-Cola in the 3rd quarter worth about $43,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Coca-Cola during the 4th quarter worth $37,000. Finally, MilWealth Group LLC acquired a new stake in shares of Coca-Cola during the 4th quarter worth approximately $40,000. Institutional investors own 70.26% of the company’s stock.

Insiders Place Their Bets

In other Coca-Cola news, insider Nikolaos Koumettis sold 54,708 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $70.96, for a total transaction of $3,882,079.68. Following the sale, the insider now directly owns 246,909 shares of the company’s stock, valued at approximately $17,520,662.64. This represents a 18.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James Quincey sold 145,435 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total value of $10,327,339.35. Following the completion of the transaction, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at $24,324,191.46. This trade represents a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 232,646 shares of company stock valued at $16,515,469. 0.97% of the stock is owned by company insiders.

Coca-Cola Stock Performance

Shares of KO opened at $72.29 on Tuesday. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53. The stock has a 50-day moving average of $64.73 and a two-hundred day moving average of $66.52. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The stock has a market cap of $310.92 billion, a P/E ratio of 29.27, a P/E/G ratio of 3.79 and a beta of 0.61.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. As a group, research analysts predict that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $0.51 dividend. The ex-dividend date is Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a yield of 2.82%. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s payout ratio is currently 82.59%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on KO. Morgan Stanley lifted their target price on shares of Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. UBS Group boosted their target price on shares of Coca-Cola from $72.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Evercore ISI increased their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. DZ Bank raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Thursday, February 13th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $69.00 price objective on shares of Coca-Cola in a research report on Thursday, February 6th. Two equities research 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 MarketBeat.com, Coca-Cola has an average rating of “Moderate Buy” and a consensus price target of $74.24.

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.