M&T Bank Corp Has $99.82 Million Stock Position in The Coca-Cola Company (NYSE:KO)

M&T Bank Corp lessened its stake in The Coca-Cola Company (NYSE:KO) by 0.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,693,780 shares of the company’s stock after selling 3,530 shares during the quarter. M&T Bank Corp’s holdings in Coca-Cola were worth $99,815,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Merit Financial Group LLC boosted its position in Coca-Cola by 14.7% during the 4th quarter. Merit Financial Group LLC now owns 72,491 shares of the company’s stock worth $4,272,000 after acquiring an additional 9,297 shares during the last quarter. Bordeaux Wealth Advisors LLC boosted its holdings in Coca-Cola by 5.0% during the fourth quarter. Bordeaux Wealth Advisors LLC now owns 7,368 shares of the company’s stock worth $434,000 after purchasing an additional 354 shares during the last quarter. Coulter & Justus Financial Services LLC bought a new position in Coca-Cola in the fourth quarter valued at $550,000. Benjamin F. Edwards & Company Inc. increased its stake in Coca-Cola by 22.5% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 73,881 shares of the company’s stock valued at $4,354,000 after buying an additional 13,566 shares during the last quarter. Finally, Smart Money Group LLC lifted its position in Coca-Cola by 21.6% during the 4th quarter. Smart Money Group LLC now owns 4,932 shares of the company’s stock worth $291,000 after buying an additional 877 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Trading Up 0.3 %

Shares of KO stock traded up $0.18 during mid-day trading on Friday, reaching $62.17. 11,628,675 shares of the stock traded hands, compared to its average volume of 13,782,690. The stock’s fifty day simple moving average is $60.24 and its two-hundred day simple moving average is $59.12. The company has a quick ratio of 0.95, a current ratio of 1.04 and a debt-to-equity ratio of 1.26. The Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $64.25. The company has a market cap of $268.03 billion, a price-to-earnings ratio of 24.87, a price-to-earnings-growth ratio of 3.55 and a beta of 0.57.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.02. The company had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $11.01 billion. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. Coca-Cola’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.68 earnings per share. On average, research analysts anticipate that The Coca-Cola Company will post 2.82 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date is Friday, June 14th. Coca-Cola’s dividend payout ratio is currently 77.60%.

Analyst Upgrades and Downgrades

KO has been the topic of several analyst reports. Evercore ISI upped their target price on Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday. JPMorgan Chase & Co. upped their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday. Barclays upped their target price on shares of Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday. UBS Group lifted their price target on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Citigroup lifted their target price on Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $68.27.

Insiders Place Their Bets

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

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.