Zurcher Kantonalbank Zurich Cantonalbank Sells 304,191 Shares of The Coca-Cola Company (NYSE:KO)

Zurcher Kantonalbank Zurich Cantonalbank lowered its position in The Coca-Cola Company (NYSE:KO) by 13.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,890,658 shares of the company’s stock after selling 304,191 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Coca-Cola were worth $117,712,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of KO. Howard Capital Management Group LLC lifted its holdings in shares of Coca-Cola by 0.5% in the third quarter. Howard Capital Management Group LLC now owns 399,607 shares of the company’s stock valued at $28,716,000 after purchasing an additional 2,069 shares in the last quarter. CWA Asset Management Group LLC bought a new stake in Coca-Cola during the third quarter worth $1,200,000. United Bank lifted its holdings in Coca-Cola by 65.4% during the third quarter. United Bank now owns 80,888 shares of the company’s stock worth $5,813,000 after acquiring an additional 31,979 shares during the period. Rovin Capital UT ADV bought a new stake in Coca-Cola during the third quarter worth $237,000. Finally, Assetmark Inc. lifted its holdings in Coca-Cola by 7.0% during the third quarter. Assetmark Inc. now owns 109,065 shares of the company’s stock worth $7,837,000 after acquiring an additional 7,099 shares during the period. Institutional investors own 70.26% of the company’s stock.

Insider Activity

In related news, insider Nikolaos Koumettis sold 54,708 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 246,909 shares in the company, valued at $17,520,662.64. The trade was a 18.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO James Quincey sold 145,435 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $71.01, for a total value of $10,327,339.35. Following the transaction, the chief executive officer now owns 342,546 shares in the company, valued at approximately $24,324,191.46. This represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 232,646 shares of company stock valued at $16,515,469. Insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

Coca-Cola stock opened at $71.52 on Monday. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53. The business has a 50-day simple moving average of $65.36 and a 200 day simple moving average of $66.56. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The stock has a market cap of $307.60 billion, a price-to-earnings ratio of 28.96, a PEG ratio of 3.79 and a beta of 0.57.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. On average, research analysts forecast that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date is Friday, March 14th. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s payout ratio is 82.59%.

Analysts Set New Price Targets

A number of analysts recently commented on KO shares. UBS Group lifted their price target on Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Evercore ISI lifted their price target on Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Piper Sandler lifted their price target on Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Wednesday, January 8th. Finally, DZ Bank upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Thursday, February 13th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $74.24.

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.