The Coca-Cola Company (NYSE:KO) Shares Sold by Citizens & Northern Corp

Citizens & Northern Corp cut its holdings in shares of The Coca-Cola Company (NYSE:KO) by 3.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,658 shares of the company’s stock after selling 867 shares during the quarter. Citizens & Northern Corp’s holdings in Coca-Cola were worth $1,394,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KO. ZRC Wealth Management LLC boosted its position in shares of Coca-Cola by 213.3% during the 4th quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock worth $26,000 after acquiring an additional 320 shares in the last quarter. Tidemark LLC acquired a new position in Coca-Cola in the fourth quarter valued at approximately $26,000. Private Wealth Management Group LLC purchased a new position in Coca-Cola in the fourth quarter valued at approximately $27,000. Criterion Capital Advisors LLC acquired a new stake in Coca-Cola during the fourth quarter worth approximately $30,000. Finally, Frazier Financial Advisors LLC purchased a new stake in shares of Coca-Cola during the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Performance

KO traded down $0.91 during trading on Thursday, hitting $62.09. The stock had a trading volume of 6,308,427 shares, compared to its average volume of 13,395,770. The Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $63.76. The firm has a market capitalization of $267.48 billion, a P/E ratio of 24.89, a PEG ratio of 3.57 and a beta of 0.57. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 1.04. The company’s 50-day moving average price is $61.00 and its 200 day moving average price is $59.83.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.02. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The firm had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $11.01 billion. During the same period in the prior year, the company posted $0.68 earnings per share. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, equities research analysts forecast 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. Investors 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 yield of 3.12%. The ex-dividend date is Friday, June 14th. Coca-Cola’s dividend payout ratio is presently 77.60%.

Insiders Place Their Bets

In related news, insider Bruno Pietracci sold 18,551 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $59.41, for a total transaction of $1,102,114.91. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Coca-Cola news, EVP Nancy Quan sold 57,368 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total value of $3,491,990.16. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $13,594,097.10. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 transaction of $1,102,114.91. The disclosure for this sale can be found here. Over the last quarter, insiders sold 199,389 shares of company stock worth $12,322,179. 0.97% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on KO. Evercore ISI lifted their price target on shares of Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. UBS Group lifted their target price on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Argus upped their target price on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday. Barclays boosted their price objective on Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Finally, JPMorgan Chase & Co. raised their target price on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.58.

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.