Zions Bancorporation N.A. Sells 2,032 Shares of The Coca-Cola Company (NYSE:KO)

Zions Bancorporation N.A. trimmed its holdings in shares of The Coca-Cola Company (NYSE:KO) by 3.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,349 shares of the company’s stock after selling 2,032 shares during the period. Zions Bancorporation N.A.’s holdings in Coca-Cola were worth $4,409,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Apella Capital LLC lifted its stake in Coca-Cola by 1.4% during the third quarter. Apella Capital LLC now owns 10,533 shares of the company’s stock worth $748,000 after purchasing an additional 146 shares during the last quarter. Investment Advisory Group LLC lifted its stake in Coca-Cola by 4.5% during the third quarter. Investment Advisory Group LLC now owns 3,378 shares of the company’s stock worth $243,000 after purchasing an additional 146 shares during the last quarter. Elwood & Goetz Wealth Advisory Group LLC lifted its stake in Coca-Cola by 2.2% during the second quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 6,871 shares of the company’s stock worth $437,000 after purchasing an additional 149 shares during the last quarter. CCG Wealth Management LLC lifted its stake in Coca-Cola by 4.3% in the third quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock valued at $260,000 after buying an additional 149 shares during the last quarter. Finally, Investment Partners Asset Management Inc. lifted its stake in Coca-Cola by 2.2% in the third quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock valued at $500,000 after buying an additional 150 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Stock Performance

NYSE KO opened at $63.02 on Thursday. The business’s 50-day moving average price is $68.99 and its 200 day moving average price is $66.51. The Coca-Cola Company has a twelve month low of $56.70 and a twelve month high of $73.53. The company has a market capitalization of $271.48 billion, a PE ratio of 26.04, a price-to-earnings-growth ratio of 3.84 and a beta of 0.61. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

Coca-Cola (NYSE:KO) last released its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The firm had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. During the same period in the prior year, the business posted $0.74 earnings per share. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. On average, research analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a $0.485 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.08%. Coca-Cola’s dividend payout ratio (DPR) is 80.17%.

Insider Transactions at Coca-Cola

In other news, EVP Lisa Chang sold 40,334 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $69.54, for a total value of $2,804,826.36. Following the transaction, the executive vice president now directly owns 74,067 shares in the company, valued at $5,150,619.18. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO James Quincey sold 100,000 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the completion of the sale, the chief executive officer now owns 342,546 shares in the company, valued at approximately $21,933,220.38. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Lisa Chang sold 40,334 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $69.54, for a total value of $2,804,826.36. Following the completion of the sale, the executive vice president now owns 74,067 shares of the company’s stock, valued at approximately $5,150,619.18. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 303,748 shares of company stock worth $20,677,431 in the last three months. 0.97% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

KO has been the subject of a number of research reports. Barclays reduced their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. StockNews.com cut Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Cfra restated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Wells Fargo & Company upped their price target on Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Finally, TD Cowen upped their price objective on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus price target of $72.36.

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.