Zurcher Kantonalbank Zurich Cantonalbank Has $96.60 Million Stake in The Coca-Cola Company (NYSE:KO)

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in shares of The Coca-Cola Company (NYSE:KO) by 15.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,639,250 shares of the company’s stock after selling 295,054 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Coca-Cola were worth $96,601,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Insigneo Advisory Services LLC raised its position in shares of Coca-Cola by 12.2% during the third quarter. Insigneo Advisory Services LLC now owns 41,683 shares of the company’s stock valued at $2,354,000 after buying an additional 4,527 shares during the last quarter. HF Advisory Group LLC raised its position in Coca-Cola by 7.6% in the third quarter. HF Advisory Group LLC now owns 6,770 shares of the company’s stock worth $379,000 after purchasing an additional 476 shares in the last quarter. Wahed Invest LLC raised its position in Coca-Cola by 10.3% in the third quarter. Wahed Invest LLC now owns 61,355 shares of the company’s stock worth $3,435,000 after purchasing an additional 5,707 shares in the last quarter. Cohen Lawrence B raised its position in Coca-Cola by 2.8% in the third quarter. Cohen Lawrence B now owns 40,872 shares of the company’s stock worth $2,288,000 after purchasing an additional 1,111 shares in the last quarter. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO raised its position in Coca-Cola by 3.2% in the fourth quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 46,470 shares of the company’s stock worth $2,738,000 after purchasing an additional 1,455 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Nancy Quan sold 57,368 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were 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 in the company, valued at $13,594,097.10. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Nancy Quan sold 57,368 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total value of $3,491,990.16. Following the completion of the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at $13,594,097.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO James Quincey sold 247,188 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were 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 directly owns 442,546 shares of the company’s stock, valued at approximately $26,968,753.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 375,407 shares of company stock worth $22,795,742. Company insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on KO shares. JPMorgan Chase & Co. upped their price objective on shares of Coca-Cola from $64.00 to $66.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 14th. Barclays increased their price target on shares of Coca-Cola from $66.00 to $68.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Citigroup increased their price target on shares of Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $67.18.

Coca-Cola Trading Down 0.2 %

KO stock traded down $0.09 during midday trading on Tuesday, reaching $58.05. The company’s stock had a trading volume of 11,233,388 shares, compared to its average volume of 13,817,294. The Coca-Cola Company has a 52 week low of $51.55 and a 52 week high of $64.99. The stock has a market cap of $250.26 billion, a PE ratio of 23.45, a price-to-earnings-growth ratio of 3.31 and a beta of 0.59. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 1.29. The business’s 50-day simple moving average is $60.01 and its 200-day simple moving average is $58.51.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. Coca-Cola had a net margin of 23.42% and a return on equity of 42.50%. The firm had revenue of $10.80 billion for the quarter, compared to analysts’ expectations of $10.68 billion. During the same period last year, the firm earned $0.45 earnings per share. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, sell-side analysts expect that The Coca-Cola Company will post 2.81 EPS for the current year.

Coca-Cola Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were issued a $0.485 dividend. The ex-dividend date was Thursday, March 14th. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.46. This represents a $1.94 annualized dividend and a yield of 3.34%. Coca-Cola’s dividend payout ratio (DPR) is 78.23%.

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.