The Coca-Cola Company (NYSE:KO) Shares Purchased by Nixon Peabody Trust Co.

Nixon Peabody Trust Co. boosted its stake in shares of The Coca-Cola Company (NYSE:KO) by 506.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 188,866 shares of the company’s stock after buying an additional 157,712 shares during the period. Nixon Peabody Trust Co.’s holdings in Coca-Cola were worth $11,130,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Tidemark LLC purchased a new stake in shares of Coca-Cola in the 4th quarter valued at $26,000. Private Wealth Management Group LLC acquired a new position in shares of Coca-Cola in the fourth quarter valued at approximately $27,000. ZRC Wealth Management LLC increased its stake in 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 buying an additional 320 shares during the period. Criterion Capital Advisors LLC acquired a new stake in Coca-Cola during the 4th quarter worth approximately $30,000. Finally, Frazier Financial Advisors LLC purchased a new position in Coca-Cola in the 4th quarter valued at approximately $31,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Stock Down 0.1 %

NYSE KO traded down $0.09 during trading hours on Friday, hitting $62.00. The company had a trading volume of 8,184,931 shares, compared to its average volume of 13,383,809. The firm’s 50 day moving average is $61.03 and its 200 day moving average is $59.84. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.04 and a quick ratio of 0.86. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $63.76. The company has a market capitalization of $267.09 billion, a price-to-earnings ratio of 24.82, a P/E/G ratio of 3.58 and a beta of 0.57.

Coca-Cola (NYSE:KO) last released its quarterly 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. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. The firm had revenue of $11.30 billion for the quarter, compared to analyst estimates of $11.01 billion. During the same period in the previous year, the company posted $0.68 EPS. Coca-Cola’s revenue for the quarter was up 2.7% on a year-over-year basis. Sell-side analysts anticipate that The Coca-Cola Company will post 2.82 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 3.13%. The ex-dividend date is Friday, June 14th. Coca-Cola’s dividend payout ratio (DPR) is 77.60%.

Insider Activity

In related news, insider Bruno Pietracci sold 18,551 shares of Coca-Cola stock in a transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Coca-Cola news, EVP Monica Howard Douglas sold 8,874 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $63.31, for a total transaction of $561,812.94. Following the completion of the sale, the executive vice president now owns 33,638 shares in the company, valued at $2,129,621.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Bruno Pietracci sold 18,551 shares of the stock in a transaction on Monday, March 4th. The stock was 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. Insiders sold 199,389 shares of company stock worth $12,322,179 over the last ninety days. Corporate insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. UBS Group increased their price target on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. 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. JPMorgan Chase & Co. boosted their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Barclays lifted their price objective on shares of Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Finally, Argus increased their target price on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Coca-Cola has an average rating of “Moderate Buy” and a consensus price target of $68.58.

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.