Intrust Bank NA Has $1.60 Million Stake in The Coca-Cola Company (NYSE:KO)

Intrust Bank NA lowered its stake in The Coca-Cola Company (NYSE:KO) by 9.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,086 shares of the company’s stock after selling 2,679 shares during the period. Intrust Bank NA’s holdings in Coca-Cola were worth $1,596,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of KO. Charles Schwab Investment Management Inc. grew its position in shares of Coca-Cola by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 63,138,970 shares of the company’s stock worth $3,501,789,000 after buying an additional 2,464,618 shares during the period. Northern Trust Corp raised its position in shares of Coca-Cola by 4.8% during the 3rd quarter. Northern Trust Corp now owns 44,913,068 shares of the company’s stock valued at $2,514,234,000 after acquiring an additional 2,040,664 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Coca-Cola by 8.2% in the 3rd quarter. Invesco Ltd. now owns 25,845,340 shares of the company’s stock valued at $1,446,822,000 after purchasing an additional 1,963,963 shares during the period. Morgan Stanley boosted its position in shares of Coca-Cola by 2.5% in the 3rd quarter. Morgan Stanley now owns 80,448,083 shares of the company’s stock worth $4,503,484,000 after purchasing an additional 1,950,146 shares during the last quarter. Finally, California Public Employees Retirement System grew its stake in shares of Coca-Cola by 16.4% during the fourth quarter. California Public Employees Retirement System now owns 13,804,908 shares of the company’s stock worth $813,523,000 after purchasing an additional 1,949,500 shares during the period. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Performance

Shares of KO stock traded up $0.48 on Tuesday, hitting $62.52. The company’s stock had a trading volume of 2,707,369 shares, compared to its average volume of 13,841,841. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $64.69. The company has a market capitalization of $269.54 billion, a PE ratio of 25.02, a PEG ratio of 3.53 and a beta of 0.59. The stock’s 50 day moving average is $60.17 and its 200-day moving average is $58.96. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.95 and a current ratio of 1.13.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.02. The business had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $11.01 billion. Coca-Cola had a return on equity of 42.50% and a net margin of 23.42%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.68 earnings per share. Equities research analysts expect that The Coca-Cola Company will post 2.81 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were given a dividend of $0.485 per share. This is a positive change 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 annualized dividend and a dividend yield of 3.10%. Coca-Cola’s dividend payout ratio (DPR) is currently 78.23%.

Analysts Set New Price Targets

KO has been the subject of several recent analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Coca-Cola from $66.00 to $65.00 and set an “overweight” rating for the company in a research note on Friday, April 19th. Barclays raised their price objective on Coca-Cola from $66.00 to $68.00 and gave the stock an “overweight” rating in a research note on Friday, April 12th. Finally, Citigroup boosted their target price on Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and an average price target of $67.22.

Insider Buying and Selling at Coca-Cola

In related news, CEO James Quincey sold 247,188 shares of the company’s stock in a transaction 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 sale, 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 through this link. In other Coca-Cola news, 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 value of $15,063,636.72. Following the sale, the chief executive officer now owns 442,546 shares in the company, valued at $26,968,753.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bruno Pietracci sold 18,551 shares of the company’s 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 a total of 323,107 shares of company stock worth $19,657,742 over the last three months. Corporate insiders own 0.97% of the company’s stock.

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.