Intrust Bank NA Has $1.81 Million Stake in The Coca-Cola Company (NYSE:KO)

Intrust Bank NA grew its stake in The Coca-Cola Company (NYSE:KO) by 3.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,132 shares of the company’s stock after purchasing an additional 1,090 shares during the period. Intrust Bank NA’s holdings in Coca-Cola were worth $1,814,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Howard Capital Management Group LLC boosted its holdings in shares of Coca-Cola by 0.5% during the 3rd quarter. Howard Capital Management Group LLC now owns 399,607 shares of the company’s stock valued at $28,716,000 after acquiring an additional 2,069 shares in the last quarter. Cynosure Group LLC raised its position in Coca-Cola by 46.4% in the third quarter. Cynosure Group LLC now owns 5,057 shares of the company’s stock valued at $363,000 after purchasing an additional 1,602 shares during the last quarter. Public Sector Pension Investment Board boosted its stake in shares of Coca-Cola by 17.1% during the third quarter. Public Sector Pension Investment Board now owns 140,909 shares of the company’s stock valued at $10,126,000 after purchasing an additional 20,600 shares in the last quarter. Suvretta Capital Management LLC grew its holdings in shares of Coca-Cola by 5.0% during the third quarter. Suvretta Capital Management LLC now owns 588,912 shares of the company’s stock worth $42,319,000 after purchasing an additional 28,299 shares during the last quarter. Finally, CWS Financial Advisors LLC raised its holdings in Coca-Cola by 10.1% in the 3rd quarter. CWS Financial Advisors LLC now owns 7,694 shares of the company’s stock valued at $553,000 after buying an additional 706 shares during the last quarter. 70.26% of the stock is owned by institutional investors.

Coca-Cola Stock Down 0.5 %

KO stock opened at $70.36 on Friday. The stock’s 50 day simple moving average is $67.77 and its 200 day simple moving average is $66.45. The company has a market cap of $302.80 billion, a P/E ratio of 28.49, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. On average, research analysts expect that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $0.51 dividend. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.04 annualized dividend and a dividend yield of 2.90%. Coca-Cola’s dividend payout ratio is presently 82.59%.

Insider Buying and Selling at Coca-Cola

In other news, CEO James Quincey sold 145,435 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $71.01, for a total transaction of $10,327,339.35. Following the completion of the sale, the chief executive officer now owns 342,546 shares in the company, valued at $24,324,191.46. This trade represents a 29.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Bruno Pietracci sold 19,058 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $70.56, for a total value of $1,344,732.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 313,423 shares of company stock worth $22,263,071. Insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on KO. Evercore ISI boosted their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Barclays boosted their price objective on shares of Coca-Cola from $66.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Piper Sandler lifted their target price on Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. DZ Bank upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Thursday, February 13th. Finally, UBS Group raised their price objective on Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $74.24.

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.