The Coca-Cola Company (NYSE:KO) Shares Sold by Zions Bancorporation N.A.

Zions Bancorporation N.A. lessened its holdings in shares of The Coca-Cola Company (NYSE:KO) by 3.2% in the third quarter, Holdings Channel.com reports. The firm owned 61,349 shares of the company’s stock after selling 2,032 shares during the period. Zions Bancorporation N.A.’s holdings in Coca-Cola were worth $4,409,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. New Millennium Group LLC acquired a new stake in Coca-Cola during the 2nd quarter valued at approximately $26,000. Quarry LP acquired a new position in shares of Coca-Cola in the 2nd quarter worth approximately $27,000. ESL Trust Services LLC acquired a new position in shares of Coca-Cola in the 1st quarter worth approximately $28,000. Hara Capital LLC acquired a new position in shares of Coca-Cola in the 3rd quarter worth approximately $35,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Coca-Cola in the 3rd quarter worth approximately $36,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Activity at Coca-Cola

In related news, EVP Lisa Chang sold 40,334 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $69.54, for a total transaction of $2,804,826.36. Following the completion of the sale, the executive vice president now owns 74,067 shares in the company, valued at $5,150,619.18. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Coca-Cola news, CEO James Quincey sold 42,397 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $70.02, for a total value of $2,968,637.94. Following the completion of the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $30,987,070.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Lisa Chang sold 40,334 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $69.54, for a total value of $2,804,826.36. Following the completion of the transaction, the executive vice president now directly owns 74,067 shares of the company’s stock, valued at approximately $5,150,619.18. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 303,748 shares of company stock worth $20,677,431 in the last 90 days. 0.97% of the stock is owned by company insiders.

Coca-Cola Stock Performance

KO opened at $63.02 on Thursday. The company has a market cap of $271.48 billion, a PE ratio of 26.04, a price-to-earnings-growth ratio of 3.84 and a beta of 0.61. The stock has a 50-day moving average of $68.99 and a 200-day moving average of $66.51. The Coca-Cola Company has a 52-week low of $56.70 and a 52-week high of $73.53. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.03. The company had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The firm’s revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.74 EPS. As a group, equities research analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 3.08%. Coca-Cola’s payout ratio is 80.17%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on KO shares. Deutsche Bank Aktiengesellschaft raised their price target on Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Royal Bank of Canada raised their price target on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Barclays cut their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Finally, Morgan Stanley cut their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $72.36.

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.