Security National Bank raised its holdings in The Coca-Cola Company (NYSE:KO) by 342.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,254 shares of the company’s stock after purchasing an additional 18,000 shares during the period. Security National Bank’s holdings in The Coca-Cola were worth $1,226,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Bellwether Advisors LLC acquired a new position in shares of The Coca-Cola in the 4th quarter valued at approximately $25,000. McClarren Financial Advisors Inc. bought a new stake in shares of The Coca-Cola in the 4th quarter valued at approximately $26,000. CBIZ Investment Advisory Services LLC increased its holdings in shares of The Coca-Cola by 136.3% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 1,229 shares of the company’s stock valued at $28,000 after acquiring an additional 709 shares during the last quarter. Merrion Investment Management Co LLC bought a new stake in shares of The Coca-Cola in the 4th quarter valued at approximately $33,000. Finally, West Financial Advisors LLC bought a new stake in shares of The Coca-Cola in the 4th quarter valued at approximately $34,000. 65.99% of the stock is currently owned by institutional investors.
Shares of NYSE:KO traded down $0.04 on Thursday, hitting $53.24. The company’s stock had a trading volume of 121,829 shares, compared to its average volume of 19,513,369. The Coca-Cola Company has a 12 month low of $43.20 and a 12 month high of $54.93. The company has a market capitalization of $229.43 billion, a price-to-earnings ratio of 27.75, a price-to-earnings-growth ratio of 5.70 and a beta of 0.58. The stock’s 50-day moving average is $51.12 and its two-hundred day moving average is $51.00. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.01 and a current ratio of 1.13.
The firm also recently declared a quarterly dividend, which was paid on Thursday, April 1st. Stockholders of record on Monday, March 15th were paid a $0.42 dividend. This is a boost from The Coca-Cola’s previous quarterly dividend of $0.41. The ex-dividend date was Friday, March 12th. This represents a $1.68 annualized dividend and a dividend yield of 3.16%. The Coca-Cola’s dividend payout ratio is presently 79.62%.
A number of equities research analysts have recently weighed in on KO shares. Sanford C. Bernstein started coverage on The Coca-Cola in a report on Tuesday, January 19th. They issued an “outperform” rating and a $58.00 price target for the company. Morgan Stanley lowered their price target on The Coca-Cola from $59.00 to $55.00 and set an “overweight” rating for the company in a report on Thursday, January 14th. Royal Bank of Canada upgraded The Coca-Cola from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $55.00 to $60.00 in a report on Monday, March 15th. JPMorgan Chase & Co. downgraded The Coca-Cola from an “overweight” rating to a “neutral” rating and set a $55.00 price objective for the company. in a research note on Thursday, January 7th. Finally, HSBC lowered their price objective on The Coca-Cola from $61.00 to $58.00 in a research note on Wednesday, January 13th. One analyst has rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The Coca-Cola has a consensus rating of “Buy” and an average target price of $54.86.
In other news, insider Alfredo Rivera sold 20,000 shares of the company’s stock in a transaction on Tuesday, March 9th. The stock was sold at an average price of $51.15, for a total value of $1,023,000.00. Following the completion of the sale, the insider now owns 62,000 shares in the company, valued at $3,171,300. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Nikolaos Koumettis sold 60,000 shares of the company’s stock in a transaction on Monday, March 29th. The shares were sold at an average price of $53.30, for a total value of $3,198,000.00. Following the completion of the sale, the insider now owns 145,011 shares of the company’s stock, valued at approximately $7,729,086.30. The disclosure for this sale can be found here. In the last three months, insiders sold 80,501 shares of company stock valued at $4,246,280. Company insiders own 1.01% of the company’s stock.
About The Coca-Cola
The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plantÂ-based beverages; tea and coffee; and energy drinks. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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