First PREMIER Bank Has $2.97 Million Stock Holdings in The Coca-Cola Company (NYSE:KO)

First PREMIER Bank trimmed its stake in shares of The Coca-Cola Company (NYSE:KO) by 3.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,638 shares of the company’s stock after selling 1,420 shares during the quarter. First PREMIER Bank’s holdings in Coca-Cola were worth $2,969,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD increased its position in Coca-Cola by 21.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock valued at $3,016,023,000 after acquiring an additional 8,733,326 shares during the period. Norges Bank acquired a new position in Coca-Cola in the 4th quarter valued at approximately $2,808,056,000. Dimensional Fund Advisors LP increased its position in Coca-Cola by 5.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 15,171,216 shares of the company’s stock valued at $894,028,000 after acquiring an additional 814,779 shares during the period. Vontobel Asset Management Inc. increased its position in Coca-Cola by 2.7% in the 4th quarter. Vontobel Asset Management Inc. now owns 14,337,691 shares of the company’s stock valued at $890,866,000 after acquiring an additional 378,447 shares during the period. Finally, California Public Employees Retirement System increased its position in Coca-Cola by 16.4% in the 4th quarter. California Public Employees Retirement System now owns 13,804,908 shares of the company’s stock valued at $813,523,000 after acquiring an additional 1,949,500 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Coca-Cola news, major shareholder Cola Co Coca sold 598,619 shares of the company’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $925.00, for a total value of $553,722,575.00. Following the completion of the sale, the insider now directly owns 1,883,546 shares of the company’s stock, valued at approximately $1,742,280,050. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Lisa Chang sold 58,122 shares of Coca-Cola stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $68.51, for a total transaction of $3,981,938.22. Following the sale, the executive vice president now directly owns 74,067 shares in the company, valued at approximately $5,074,330.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Cola Co Coca sold 598,619 shares of the stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the transaction, the insider now owns 1,883,546 shares of the company’s stock, valued at approximately $1,742,280,050. The disclosure for this sale can be found here. Insiders have sold 871,162 shares of company stock valued at $571,697,887 in the last three months. 0.97% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on KO. TD Cowen upped their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Citigroup upped their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Evercore ISI upped their price objective on shares of Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Royal Bank of Canada upped their price objective on shares of Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Finally, Barclays upped their price objective on shares of Coca-Cola from $69.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $70.20.

Coca-Cola Stock Up 0.1 %

Shares of NYSE KO traded up $0.07 during mid-day trading on Thursday, reaching $68.65. 11,196,739 shares of the company’s stock traded hands, compared to its average volume of 13,056,170. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $69.67. The stock has a market cap of $295.74 billion, a P/E ratio of 27.46, a PEG ratio of 3.80 and a beta of 0.59. The business has a 50-day simple moving average of $65.01 and a 200 day simple moving average of $62.30.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. The business had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.78 EPS. On average, analysts expect that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 2.83%. The ex-dividend date is Friday, September 13th. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

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.