Renasant Bank Has $438,000 Stock Holdings in The Coca-Cola Company (NYSE:KO)

Renasant Bank reduced its stake in The Coca-Cola Company (NYSE:KO) by 24.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,034 shares of the company’s stock after selling 2,294 shares during the quarter. Renasant Bank’s holdings in Coca-Cola were worth $438,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Mainstream Capital Management LLC acquired a new position in shares of Coca-Cola in the 4th quarter worth approximately $31,000. Retirement Wealth Solutions LLC bought a new position in Coca-Cola during the fourth quarter worth $37,000. MilWealth Group LLC acquired a new position in Coca-Cola in the fourth quarter valued at $40,000. MidAtlantic Capital Management Inc. bought a new stake in Coca-Cola during the third quarter valued at $43,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in Coca-Cola during the 4th quarter worth about $43,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Coca-Cola news, insider Nikolaos Koumettis sold 54,708 shares of the firm’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 sale, the insider now owns 246,909 shares in the company, valued at $17,520,662.64. This trade represents a 18.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Henrique Braun sold 25,277 shares of the company’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $71.47, for a total value of $1,806,547.19. Following the completion of the transaction, the chief operating officer now owns 52,466 shares of the company’s stock, valued at $3,749,745.02. The trade was a 32.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 313,423 shares of company stock valued at $22,263,071. Company insiders own 0.97% of the company’s stock.

Coca-Cola Trading Down 0.5 %

Shares of Coca-Cola stock opened at $69.59 on Friday. The stock has a market capitalization of $299.29 billion, a P/E ratio of 28.17, a P/E/G ratio of 3.79 and a beta of 0.57. The Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.53. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The stock’s 50-day simple moving average is $66.03 and its 200 day simple moving average is $66.63.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 EPS 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%. As a group, 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 declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $0.51 per share. The ex-dividend date is Friday, March 14th. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a dividend yield of 2.93%. Coca-Cola’s dividend payout ratio is currently 82.59%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on KO. Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 price objective on shares of Coca-Cola in a research note on Thursday, February 6th. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their price target for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. JPMorgan Chase & Co. dropped their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Wells Fargo & Company upped their price target on Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Finally, Morgan Stanley increased their price target on Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus 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.