The Coca-Cola Company (NYSE:KO) Position Decreased by Amalgamated Bank

Amalgamated Bank lowered its stake in The Coca-Cola Company (NYSE:KO) by 5.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 947,152 shares of the company’s stock after selling 49,972 shares during the period. Coca-Cola makes up about 0.4% of Amalgamated Bank’s investment portfolio, making the stock its 29th largest holding. Amalgamated Bank’s holdings in Coca-Cola were worth $55,816,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. ZRC Wealth Management LLC lifted its position in Coca-Cola by 213.3% in 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 in the last quarter. Criterion Capital Advisors LLC acquired a new stake in shares of Coca-Cola in the fourth quarter worth about $30,000. Financial Connections Group Inc. bought a new stake in shares of Coca-Cola during the 4th quarter worth about $38,000. Avion Wealth lifted its holdings in Coca-Cola by 64.8% in the 4th quarter. Avion Wealth now owns 819 shares of the company’s stock worth $48,000 after purchasing an additional 322 shares during the last quarter. Finally, Fortitude Family Office LLC bought a new stake in Coca-Cola during the fourth quarter worth approximately $53,000. 70.26% of the stock is owned by institutional investors.

Coca-Cola Trading Up 0.1 %

Shares of KO traded up $0.06 during mid-day trading on Thursday, reaching $61.99. The company’s stock had a trading volume of 10,972,184 shares, compared to its average volume of 14,004,049. The company’s fifty day moving average price is $60.21 and its two-hundred day moving average price is $59.04. The Coca-Cola Company has a 52 week low of $51.55 and a 52 week high of $64.25. The stock has a market cap of $267.25 billion, a PE ratio of 24.88, a P/E/G ratio of 3.53 and a beta of 0.57. The company has a current ratio of 1.04, a quick ratio of 0.95 and a debt-to-equity ratio of 1.26.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $11.01 billion. During the same period last year, the company earned $0.68 earnings per share. The company’s revenue was up 2.7% on a year-over-year basis. On average, analysts predict that The Coca-Cola Company will post 2.81 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were given 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 dividend on an annualized basis and a dividend yield of 3.13%. Coca-Cola’s payout ratio is presently 77.60%.

Insider Transactions at Coca-Cola

In related news, CEO James Quincey sold 247,188 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 442,546 shares in the company, valued at approximately $26,968,753.24. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Coca-Cola news, CEO James Quincey sold 247,188 shares of Coca-Cola stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total value of $15,063,636.72. Following the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $26,968,753.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Bruno Pietracci sold 18,551 shares of the business’s stock in a transaction dated 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 323,107 shares of company stock worth $19,657,742 in the last three months. Corporate insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on KO. Evercore ISI upped their price target on Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday. Barclays lifted their target price on Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday. UBS Group upped their target price on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. lifted their target price on Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Citigroup increased their price target on shares of Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Coca-Cola presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.27.

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.