The Coca-Cola Company (NYSE:KO) Shares Bought by Oakworth Capital Inc.

Oakworth Capital Inc. grew its holdings in shares of The Coca-Cola Company (NYSE:KO) by 18.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 80,024 shares of the company’s stock after acquiring an additional 12,318 shares during the quarter. Coca-Cola comprises approximately 0.4% of Oakworth Capital Inc.’s holdings, making the stock its 26th largest position. Oakworth Capital Inc.’s holdings in Coca-Cola were worth $4,716,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Freedom Wealth Alliance LLC acquired a new position in Coca-Cola during the fourth quarter valued at $25,000. Hibernia Wealth Partners LLC bought a new stake in Coca-Cola during the 3rd quarter valued at approximately $25,000. ZRC Wealth Management LLC raised its holdings in 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 acquiring an additional 320 shares in the last quarter. Fortis Capital Advisors LLC acquired a new position in shares of Coca-Cola in the 4th quarter worth approximately $30,000. Finally, KB Financial Partners LLC acquired a new position in shares of Coca-Cola in the 1st quarter worth approximately $31,000. Institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

KO has been the topic of a number of recent research reports. Barclays increased their price objective on Coca-Cola from $66.00 to $68.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. Citigroup boosted their price target on Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Finally, JPMorgan Chase & Co. upped their target price on Coca-Cola from $64.00 to $66.00 and gave the company an “overweight” rating in a research report on Wednesday, February 14th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $67.18.

Coca-Cola Price Performance

KO traded up $0.40 during trading on Wednesday, hitting $58.46. 9,076,355 shares of the company traded hands, compared to its average volume of 13,749,526. The company has a market cap of $252.03 billion, a PE ratio of 23.41, a P/E/G ratio of 3.30 and a beta of 0.59. The stock’s 50-day simple moving average is $59.97 and its two-hundred day simple moving average is $58.52. The Coca-Cola Company has a 1 year low of $51.55 and a 1 year high of $64.99. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 1.29.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, February 13th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.01. The company had revenue of $10.80 billion for the quarter, compared to the consensus estimate of $10.68 billion. Coca-Cola had a net margin of 23.42% and a return on equity of 42.50%. Coca-Cola’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.45 EPS. As a group, sell-side analysts anticipate that The Coca-Cola Company will post 2.81 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were paid a $0.485 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.94 dividend on an annualized basis and a yield of 3.32%. This is an increase from Coca-Cola’s previous quarterly dividend of $0.46. Coca-Cola’s payout ratio is currently 78.23%.

Insider Buying and Selling

In other Coca-Cola news, EVP Beatriz R. Perez sold 52,300 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $60.00, for a total value of $3,138,000.00. Following the transaction, the executive vice president now directly owns 143,383 shares of the company’s stock, valued at approximately $8,602,980. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Beatriz R. Perez sold 52,300 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $60.00, for a total transaction of $3,138,000.00. Following the completion of the sale, the executive vice president now owns 143,383 shares of the company’s stock, valued at approximately $8,602,980. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Nancy Quan sold 57,368 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total transaction of $3,491,990.16. Following the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $13,594,097.10. The disclosure for this sale can be found here. Insiders sold 375,407 shares of company stock worth $22,795,742 over the last 90 days. 0.97% of the stock is owned by 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.