3,400 Shares in The Coca-Cola Company (NYSE:KO) Acquired by Citizens Business Bank

Citizens Business Bank purchased a new position in shares of The Coca-Cola Company (NYSE:KO) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,400 shares of the company’s stock, valued at approximately $200,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Morgan Stanley increased its stake in Coca-Cola by 2.5% in the third quarter. Morgan Stanley now owns 80,448,083 shares of the company’s stock valued at $4,503,484,000 after purchasing an additional 1,950,146 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Coca-Cola by 4.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 63,138,970 shares of the company’s stock valued at $3,501,789,000 after purchasing an additional 2,464,618 shares in the last quarter. Northern Trust Corp increased its stake in Coca-Cola by 4.8% in the third quarter. Northern Trust Corp now owns 44,913,068 shares of the company’s stock valued at $2,514,234,000 after purchasing an additional 2,040,664 shares in the last quarter. Invesco Ltd. increased its stake 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 purchasing an additional 1,963,963 shares in the last quarter. Finally, California Public Employees Retirement System increased its stake in Coca-Cola by 16.4% in 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 purchasing an additional 1,949,500 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Coca-Cola news, CEO James Quincey sold 247,188 shares of Coca-Cola stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total value of $15,063,636.72. Following the completion of the sale, the chief executive officer now owns 442,546 shares in the company, valued at approximately $26,968,753.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Coca-Cola news, insider Bruno Pietracci sold 18,551 shares of Coca-Cola stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $59.41, for a total value of $1,102,114.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James Quincey sold 247,188 shares of Coca-Cola stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the completion of the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $26,968,753.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 323,107 shares of company stock valued at $19,657,742. Company insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

Shares of KO opened at $61.61 on Wednesday. The company has a market cap of $265.61 billion, a PE ratio of 24.90, a price-to-earnings-growth ratio of 3.54 and a beta of 0.59. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.13 and a quick ratio of 0.95. The firm has a 50-day moving average of $60.19 and a 200-day moving average of $59.02. The Coca-Cola Company has a one year low of $51.55 and a one year high of $64.25.

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

Coca-Cola Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were issued a dividend of $0.485 per share. This is an increase from Coca-Cola’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.94 annualized dividend and a dividend yield of 3.15%. Coca-Cola’s payout ratio is presently 78.23%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Barclays upped their target price on shares of 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. lowered their price objective on shares of Coca-Cola from $66.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, April 19th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus target price of $67.22.

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.