The Coca-Cola Company (NYSE:KO) Shares Purchased by Hickory Point Bank & Trust

Hickory Point Bank & Trust boosted its position in The Coca-Cola Company (NYSE:KO) by 3.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,848 shares of the company’s stock after purchasing an additional 400 shares during the period. Hickory Point Bank & Trust’s holdings in Coca-Cola were worth $777,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in KO. Norges Bank acquired a new stake in shares of Coca-Cola during the 4th quarter valued at approximately $3,402,151,000. Capital International Investors lifted its position in shares of Coca-Cola by 96.0% during the 4th quarter. Capital International Investors now owns 24,949,194 shares of the company’s stock valued at $1,553,337,000 after acquiring an additional 12,222,885 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Coca-Cola by 18.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company’s stock worth $4,617,400,000 after purchasing an additional 11,569,920 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Coca-Cola during the 4th quarter worth approximately $500,192,000. Finally, Franklin Resources Inc. raised its position in shares of Coca-Cola by 21.9% during the 4th quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company’s stock worth $2,123,301,000 after purchasing an additional 6,118,819 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Stock Performance

NYSE:KO opened at $71.37 on Friday. The Coca-Cola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The firm has a market capitalization of $307.20 billion, a price-to-earnings ratio of 28.89, a PEG ratio of 3.79 and a beta of 0.46. The firm’s fifty day simple moving average is $71.39 and its 200 day simple moving average is $67.60.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, topping 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 firm had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.23 billion. During the same quarter in the previous year, the business posted $0.72 EPS. The firm’s revenue was down .7% compared to the same quarter last year. As a group, equities research analysts expect that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

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

Insider Activity

In other news, COO Henrique Braun sold 25,277 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $71.47, for a total value of $1,806,547.19. Following the sale, the chief operating officer now owns 52,466 shares in the company, valued at approximately $3,749,745.02. This represents a 32.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO John Murphy sold 88,658 shares of the business’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the sale, the chief financial officer now directly owns 205,511 shares of the company’s stock, valued at approximately $14,815,287.99. This represents a 30.14% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 440,664 shares of company stock worth $31,730,532. 0.97% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on KO. Royal Bank of Canada lifted their target price 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. Evercore ISI lifted their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Barclays reaffirmed an “overweight” rating on shares of Coca-Cola in a research note on Thursday, March 27th. JPMorgan Chase & Co. lifted their target price on shares of Coca-Cola from $74.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, April 21st. Finally, DZ Bank raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $75.81.

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.