Greenfield Savings Bank Boosts Position in The Coca-Cola Company (NYSE:KO)

Greenfield Savings Bank boosted its position in The Coca-Cola Company (NYSE:KO) by 31.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,547 shares of the company’s stock after purchasing an additional 3,276 shares during the period. Greenfield Savings Bank’s holdings in Coca-Cola were worth $829,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in KO. ZRC Wealth Management LLC raised its holdings in Coca-Cola by 213.3% in the 4th quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock worth $26,000 after purchasing an additional 320 shares during the period. Tidemark LLC bought a new position in shares of Coca-Cola in the fourth quarter worth about $26,000. Private Wealth Management Group LLC purchased a new position in shares of Coca-Cola during the 4th quarter valued at about $27,000. Criterion Capital Advisors LLC bought a new position in shares of Coca-Cola during the 4th quarter valued at approximately $30,000. Finally, Frazier Financial Advisors LLC bought a new position in shares of Coca-Cola during the 4th quarter valued at approximately $31,000. 70.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on KO shares. Barclays lifted their price target on shares of Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. StockNews.com downgraded shares of Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, June 14th. Argus increased their price target on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. Evercore ISI boosted their price objective on Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. increased their target price on Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.55.

Coca-Cola Price Performance

Coca-Cola stock traded up $0.59 during midday trading on Friday, reaching $62.77. 27,397,471 shares of the stock traded hands, compared to its average volume of 13,183,061. The stock has a market cap of $270.41 billion, a P/E ratio of 25.11, a PEG ratio of 3.54 and a beta of 0.59. The stock’s fifty day moving average is $62.21 and its 200-day moving average is $60.59. The company has a quick ratio of 0.86, a current ratio of 1.04 and a debt-to-equity ratio of 1.26. The Coca-Cola Company has a 12 month low of $51.55 and a 12 month high of $64.36.

Coca-Cola (NYSE:KO) last posted its 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 42.74% and a net margin of 23.41%. The firm had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $11.01 billion. During the same period in the prior year, the company earned $0.68 EPS. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, equities research analysts anticipate that The Coca-Cola Company will post 2.82 EPS for the current year.

Coca-Cola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a $0.485 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.09%. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Insider Activity

In other news, EVP Beatriz R. Perez sold 57,298 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $61.99, for a total value of $3,551,903.02. Following the completion of the sale, the executive vice president now directly owns 167,107 shares of the company’s stock, valued at approximately $10,358,962.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Beatriz R. Perez sold 57,298 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the transaction, the executive vice president now owns 167,107 shares of the company’s stock, valued at $10,358,962.93. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Monica Howard Douglas sold 8,874 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $63.31, for a total transaction of $561,812.94. Following the sale, the executive vice president now directly owns 33,638 shares of the company’s stock, valued at $2,129,621.78. The disclosure for this sale can be found here. In the last three months, insiders have sold 223,665 shares of company stock worth $13,995,465. 0.97% of the stock is currently owned by corporate insiders.

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.