Intrust Bank NA Trims Holdings in The Coca-Cola Company (NYSE:KO)

Intrust Bank NA reduced its position in shares of The Coca-Cola Company (NYSE:KO) by 9.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,086 shares of the company’s stock after selling 2,679 shares during the period. Intrust Bank NA’s holdings in Coca-Cola were worth $1,596,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Morgan Stanley boosted its stake in Coca-Cola by 2.5% in the 3rd quarter. Morgan Stanley now owns 80,448,083 shares of the company’s stock worth $4,503,484,000 after buying an additional 1,950,146 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Coca-Cola by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 63,138,970 shares of the company’s stock worth $3,501,789,000 after buying an additional 2,464,618 shares during the last quarter. Northern Trust Corp raised its position in shares of Coca-Cola by 4.8% in the 3rd quarter. Northern Trust Corp now owns 44,913,068 shares of the company’s stock worth $2,514,234,000 after buying an additional 2,040,664 shares during the period. Invesco Ltd. boosted its holdings in Coca-Cola by 8.2% in the third quarter. Invesco Ltd. now owns 25,845,340 shares of the company’s stock valued at $1,446,822,000 after acquiring an additional 1,963,963 shares during the last quarter. Finally, California Public Employees Retirement System grew its position in Coca-Cola by 16.4% during the fourth 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 hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

KO has been the topic of several research analyst reports. Barclays lifted their price objective on Coca-Cola from $66.00 to $68.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. Citigroup increased their price objective on shares of Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Coca-Cola from $66.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, April 19th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Coca-Cola presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.22.

Coca-Cola Stock Up 0.8 %

KO stock traded up $0.48 during trading on Tuesday, reaching $62.52. The stock had a trading volume of 2,707,369 shares, compared to its average volume of 13,841,841. The firm has a fifty day moving average price of $60.17 and a 200 day moving average price of $58.96. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $269.54 billion, a P/E ratio of 25.02, a PEG ratio of 3.53 and a beta of 0.59. The Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $64.69.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. Coca-Cola had a return on equity of 42.50% and a net margin of 23.42%. The firm had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $11.01 billion. During the same quarter in the prior year, the business posted $0.68 earnings per share. Coca-Cola’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, equities analysts anticipate that The Coca-Cola Company will post 2.81 earnings per share for the current year.

Coca-Cola Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Coca-Cola’s previous quarterly dividend of $0.46. Coca-Cola’s payout ratio is currently 78.23%.

Insider Activity at Coca-Cola

In other Coca-Cola news, insider Bruno Pietracci sold 18,551 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $59.41, for a total transaction of $1,102,114.91. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Bruno Pietracci sold 18,551 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $59.41, for a total transaction of $1,102,114.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO James Quincey sold 247,188 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the sale, the chief executive officer now owns 442,546 shares in the company, valued at approximately $26,968,753.24. The disclosure for this sale can be found here. Insiders sold a total of 323,107 shares of company stock valued at $19,657,742 in the last quarter. Insiders own 0.97% of the company’s stock.

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.