The Coca-Cola Company (NYSE:KO) Shares Bought by United Bank

United Bank increased its position in The Coca-Cola Company (NYSE:KO) by 4.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 84,477 shares of the company’s stock after purchasing an additional 3,589 shares during the period. Coca-Cola accounts for about 2.2% of United Bank’s investment portfolio, making the stock its 13th biggest holding. United Bank’s holdings in Coca-Cola were worth $5,260,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in KO. Crowley Wealth Management Inc. bought a new position in shares of Coca-Cola during the fourth quarter worth about $27,000. Mainstream Capital Management LLC bought a new position in Coca-Cola during the 4th quarter valued at $31,000. Retirement Wealth Solutions LLC acquired a new position in Coca-Cola during the fourth quarter worth about $37,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Coca-Cola during the 4th quarter valued at $38,000. Finally, MilWealth Group LLC acquired a new position in shares of Coca-Cola in the 4th quarter valued at $40,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Price Performance

NYSE KO opened at $70.36 on Friday. The stock has a 50-day simple moving average of $67.77 and a 200 day simple moving average of $66.41. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53. The stock has a market capitalization of $302.80 billion, a PE ratio of 28.49, a P/E/G ratio of 3.79 and a beta of 0.57. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. Research analysts anticipate that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.90%. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Friday, March 14th. Coca-Cola’s payout ratio is presently 82.59%.

Insider Transactions at Coca-Cola

In related news, insider Nikolaos Koumettis sold 54,708 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $70.96, for a total transaction of $3,882,079.68. Following the sale, the insider now directly owns 246,909 shares in the company, valued at $17,520,662.64. This represents a 18.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bruno Pietracci sold 19,058 shares of Coca-Cola stock in a transaction on Monday, February 24th. The shares were sold at an average price of $70.56, for a total value of $1,344,732.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 313,423 shares of company stock valued at $22,263,071. Corporate insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on KO. DZ Bank raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Thursday, February 13th. Royal Bank of Canada restated an “outperform” rating and issued a $69.00 target price on shares of Coca-Cola in a report on Thursday, February 6th. Piper Sandler lifted their price target on Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Evercore ISI raised their price objective on Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Finally, Morgan Stanley upped their target price on Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Coca-Cola currently has an average rating of “Moderate Buy” and an average target price of $74.24.

Coca-Cola Company 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.