First PREMIER Bank Sells 3,904 Shares of CocaCola Company (The) (NYSE:KO)

First PREMIER Bank reduced its position in shares of CocaCola Company (The) (NYSE:KO) by 8.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 43,358 shares of the company’s stock after selling 3,904 shares during the period. First PREMIER Bank’s holdings in CocaCola were worth $3,106,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Peachtree Investment Partners LLC raised its stake in shares of CocaCola by 1.4% during the fourth quarter. Peachtree Investment Partners LLC now owns 11,189 shares of the company’s stock valued at $697,000 after acquiring an additional 157 shares during the last quarter. Braun Bostich & Associates Inc. raised its holdings in CocaCola by 3.8% during the 1st quarter. Braun Bostich & Associates Inc. now owns 4,308 shares of the company’s stock worth $309,000 after purchasing an additional 159 shares during the last quarter. Fort Sheridan Advisors LLC raised its holdings in CocaCola by 3.3% during the 4th quarter. Fort Sheridan Advisors LLC now owns 4,993 shares of the company’s stock worth $311,000 after purchasing an additional 161 shares during the last quarter. Excalibur Management Corp raised its holdings in CocaCola by 0.6% during the 4th quarter. Excalibur Management Corp now owns 29,412 shares of the company’s stock worth $1,831,000 after purchasing an additional 161 shares during the last quarter. Finally, Tradition Wealth Management LLC increased its position in shares of CocaCola by 3.0% during the fourth quarter. Tradition Wealth Management LLC now owns 5,737 shares of the company’s stock worth $357,000 after buying an additional 167 shares during the period. 70.26% of the stock is owned by institutional investors.

CocaCola Stock Down 0.5%

Shares of NYSE KO opened at $68.84 on Friday. The stock has a market capitalization of $296.32 billion, a P/E ratio of 27.54, a P/E/G ratio of 3.63 and a beta of 0.46. The company has a 50-day moving average price of $71.50 and a 200-day moving average price of $68.03. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.10 and a quick ratio of 0.89.

CocaCola (NYSE:KO) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. The firm had revenue of $11.13 billion during the quarter, compared to analysts’ expectations of $11.23 billion. CocaCola had a net margin of 23.00% and a return on equity of 45.49%. The business’s revenue was down .7% on a year-over-year basis. During the same period last year, the company earned $0.72 earnings per share. On average, equities research analysts forecast that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend is Friday, June 13th. CocaCola’s dividend payout ratio is currently 81.60%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Barclays reiterated an “overweight” rating on shares of CocaCola in a research report on Thursday, March 27th. Cfra Research upgraded shares of CocaCola to a “strong-buy” rating in a research report on Tuesday, April 15th. Morgan Stanley reiterated an “overweight” rating and set a $81.00 price objective on shares of CocaCola in a research report on Monday, June 9th. Piper Sandler increased their price objective on shares of CocaCola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Finally, UBS Group increased their price objective on shares of CocaCola from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $76.00.

Insider Activity

In other CocaCola news, CFO John Murphy sold 88,658 shares of the business’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total value of $6,391,355.22. Following the transaction, the chief financial officer now directly owns 205,511 shares in the company, valued at $14,815,287.99. The trade was a 30.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James Quincey sold 266,403 shares of the business’s stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the completion of the transaction, the chief executive officer now owns 275,946 shares in the company, valued at approximately $19,884,668.76. The trade was a 49.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 415,387 shares of company stock worth $29,923,985 over the last three months. 0.97% of the stock is currently owned by insiders.

CocaCola 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.