The Coca-Cola Company (NYSE:KO) Shares Bought by Greenfield Savings Bank

Greenfield Savings Bank increased its position in The Coca-Cola Company (NYSE:KO) by 4.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,710 shares of the company’s stock after buying an additional 968 shares during the period. Greenfield Savings Bank’s holdings in Coca-Cola were worth $1,483,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Voleon Capital Management LP acquired a new position in Coca-Cola during the fourth quarter worth approximately $2,513,000. Newbridge Financial Services Group Inc. grew its stake in shares of Coca-Cola by 62.2% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 26,708 shares of the company’s stock valued at $1,663,000 after buying an additional 10,240 shares during the period. Lockheed Martin Investment Management Co. increased its holdings in shares of Coca-Cola by 16.3% during the 4th quarter. Lockheed Martin Investment Management Co. now owns 218,985 shares of the company’s stock worth $13,634,000 after buying an additional 30,650 shares during the last quarter. abrdn plc raised its position in shares of Coca-Cola by 0.3% in the 4th quarter. abrdn plc now owns 7,238,640 shares of the company’s stock worth $447,963,000 after buying an additional 22,904 shares during the period. Finally, Clark Capital Management Group Inc. boosted its holdings in Coca-Cola by 31.8% in the fourth quarter. Clark Capital Management Group Inc. now owns 848,868 shares of the company’s stock valued at $52,851,000 after acquiring an additional 204,681 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on KO shares. UBS Group upped their price target on Coca-Cola from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, April 30th. Wells Fargo & Company increased their target price on shares of Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Morgan Stanley lifted their price target on shares of Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Royal Bank of Canada boosted their price objective on shares of Coca-Cola from $73.00 to $76.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Finally, Evercore ISI raised their target price 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. Two 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. Based on data from MarketBeat, Coca-Cola currently has an average rating of “Buy” and an average price target of $75.81.

Coca-Cola Trading Down 1.1%

KO opened at $71.23 on Wednesday. The Coca-Cola Company has a 12-month low of $60.62 and a 12-month high of $74.38. 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 stock has a market capitalization of $306.59 billion, a PE ratio of 28.84, a P/E/G ratio of 3.79 and a beta of 0.47. The firm’s fifty day moving average price is $71.39 and its 200 day moving average price is $67.42.

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

Coca-Cola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date is Friday, June 13th. Coca-Cola’s dividend payout ratio is presently 81.60%.

Insider Transactions at Coca-Cola

In other news, insider Nikolaos Koumettis sold 55,500 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $71.01, for a total value of $3,941,055.00. Following the transaction, the insider now directly owns 246,909 shares in the company, valued at approximately $17,533,008.09. This trade represents a 18.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Henrique Braun sold 25,277 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $71.47, for a total transaction of $1,806,547.19. Following the sale, the chief operating officer now directly owns 52,466 shares of the company’s stock, valued at approximately $3,749,745.02. This represents a 32.51% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 496,164 shares of company stock worth $35,671,587. 0.97% of the stock is currently owned by corporate 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.