Zurcher Kantonalbank Zurich Cantonalbank Trims Stake in The Coca-Cola Company (NYSE:KO)

Zurcher Kantonalbank Zurich Cantonalbank decreased its position in shares of The Coca-Cola Company (NYSE:KO) by 13.9% during the fourth quarter, according to its most recent filing with the SEC. The firm 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 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Howard Capital Management Group LLC grew its stake in shares of Coca-Cola by 0.5% in the 3rd quarter. Howard Capital Management Group LLC now owns 399,607 shares of the company’s stock worth $28,716,000 after buying an additional 2,069 shares during the last quarter. CWA Asset Management Group LLC purchased a new stake in shares of Coca-Cola in the 3rd quarter worth approximately $1,200,000. United Bank grew its stake in shares of Coca-Cola by 65.4% in the 3rd quarter. United Bank now owns 80,888 shares of the company’s stock worth $5,813,000 after buying an additional 31,979 shares during the last quarter. Rovin Capital UT ADV purchased a new stake in shares of Coca-Cola in the 3rd quarter worth approximately $237,000. Finally, Assetmark Inc. grew its stake in shares of Coca-Cola by 7.0% in the 3rd quarter. Assetmark Inc. now owns 109,065 shares of the company’s stock worth $7,837,000 after buying an additional 7,099 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Up 1.5 %

Shares of NYSE:KO opened at $71.52 on Monday. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53. The company has a 50-day moving average price of $65.36 and a 200 day moving average price of $66.56. The company 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 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, equities research analysts predict that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.04 annualized dividend and a yield of 2.85%. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio (DPR) is presently 82.59%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Jefferies Financial Group upgraded Coca-Cola from a “hold” rating to a “buy” rating and upped their price target for the stock from $69.00 to $75.00 in a research note on Thursday, January 30th. Wells Fargo & Company upped their price objective on Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Barclays upped their price objective on Coca-Cola from $66.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research report on Wednesday, January 8th. Finally, Evercore ISI upped their price objective on Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $74.24.

Insiders Place Their Bets

In other Coca-Cola news, insider Bruno Pietracci sold 19,058 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $70.56, for a total value of $1,344,732.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lisa Chang sold 13,445 shares of Coca-Cola stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $71.50, for a total transaction of $961,317.50. Following the sale, the executive vice president now directly owns 94,676 shares of the company’s stock, valued at $6,769,334. This represents a 12.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 232,646 shares of company stock valued at $16,515,469 over the last 90 days. Insiders own 0.97% of the company’s stock.

Coca-Cola 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.