Cullen Frost Bankers Inc. Decreases Position in The Coca-Cola Company (NYSE:KO)

Cullen Frost Bankers Inc. reduced its stake in The Coca-Cola Company (NYSE:KO) by 5.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 732,686 shares of the company’s stock after selling 41,081 shares during the period. Cullen Frost Bankers Inc.’s holdings in Coca-Cola were worth $43,177,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ZRC Wealth Management LLC lifted its holdings in shares of Coca-Cola by 213.3% in the 4th quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock valued at $26,000 after purchasing an additional 320 shares during the last quarter. Criterion Capital Advisors LLC purchased a new stake in Coca-Cola in the fourth quarter valued at approximately $30,000. Pacific Capital Wealth Advisors Inc. purchased a new stake in Coca-Cola in the fourth quarter valued at approximately $32,000. Financial Connections Group Inc. acquired a new stake in shares of Coca-Cola in the fourth quarter valued at approximately $38,000. Finally, Avion Wealth grew its position in shares of Coca-Cola by 64.8% during the fourth quarter. Avion Wealth now owns 819 shares of the company’s stock worth $48,000 after acquiring an additional 322 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Stock Performance

NYSE:KO traded up $0.27 during mid-day trading on Tuesday, reaching $62.62. The stock had a trading volume of 9,792,168 shares, compared to its average volume of 13,919,606. 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 business has a 50 day simple moving average of $60.32 and a 200 day simple moving average of $59.30. The Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $64.25. The firm has a market capitalization of $269.74 billion, a price-to-earnings ratio of 25.05, a PEG ratio of 3.53 and a beta of 0.57.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.70 by $0.02. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. The business had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $11.01 billion. During the same period last year, the firm earned $0.68 EPS. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, analysts expect that The Coca-Cola Company will post 2.82 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 Monday, July 1st. Shareholders of record on Friday, June 14th will be given a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.94 annualized dividend and a dividend yield of 3.10%. Coca-Cola’s payout ratio is currently 77.60%.

Analyst Upgrades and Downgrades

Several analysts recently commented on KO shares. 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 report on Wednesday, May 1st. Barclays upped their target price on shares of Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. JPMorgan Chase & Co. raised their price target on Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Citigroup boosted their price target on Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Finally, UBS Group increased their price objective on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $68.27.

Insider Transactions at Coca-Cola

In other Coca-Cola news, EVP Beatriz R. Perez sold 57,298 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $61.99, for a total value of $3,551,903.02. Following the completion of the transaction, the executive vice president now directly owns 167,107 shares of the company’s stock, valued at $10,358,962.93. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CEO James Quincey sold 247,188 shares of Coca-Cola stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the completion of the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $26,968,753.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Beatriz R. Perez sold 57,298 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the completion of the sale, the executive vice president now owns 167,107 shares in the company, valued at $10,358,962.93. The disclosure for this sale can be found here. Insiders have sold a total of 380,405 shares of company stock valued at $23,209,645 in the last ninety days. 0.97% of the stock is currently owned by company insiders.

Coca-Cola Company 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.