Citizens & Northern Corp Sells 867 Shares of The Coca-Cola Company (NYSE:KO)

Citizens & Northern Corp decreased its stake in shares of The Coca-Cola Company (NYSE:KO) by 3.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,658 shares of the company’s stock after selling 867 shares during the period. Citizens & Northern Corp’s holdings in Coca-Cola were worth $1,394,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. ZRC Wealth Management LLC raised its stake in shares of Coca-Cola by 213.3% in the 4th quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock valued at $26,000 after purchasing an additional 320 shares during the period. Tidemark LLC bought a new position in shares of Coca-Cola during the fourth quarter worth about $26,000. Private Wealth Management Group LLC acquired a new stake in Coca-Cola in the 4th quarter valued at approximately $27,000. Criterion Capital Advisors LLC bought a new stake in Coca-Cola in the 4th quarter valued at approximately $30,000. Finally, Frazier Financial Advisors LLC acquired a new position in Coca-Cola during the 4th quarter worth approximately $31,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

KO has been the topic of a number of recent research reports. Argus lifted their price objective on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday. 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 research report on Wednesday, May 1st. UBS Group increased their price objective on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Evercore ISI increased their price objective 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. Finally, Barclays increased their price objective on shares of Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $68.58.

Coca-Cola Stock Performance

Shares of KO traded down $0.91 during mid-day trading on Thursday, reaching $62.09. The company’s stock had a trading volume of 6,308,427 shares, compared to its average volume of 13,395,770. The company has a current ratio of 1.04, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26. The Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $63.76. The business has a 50-day simple moving average of $61.00 and a two-hundred day simple moving average of $59.83. The stock has a market cap of $267.48 billion, a P/E ratio of 24.89, a PEG ratio of 3.57 and a beta of 0.57.

Coca-Cola (NYSE:KO) last announced 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. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. The business had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $11.01 billion. During the same quarter last year, the firm posted $0.68 EPS. The company’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, equities research analysts anticipate that The Coca-Cola Company will post 2.82 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The business 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 $0.485 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.94 dividend on an annualized basis and a yield of 3.12%. Coca-Cola’s dividend payout ratio (DPR) is currently 77.60%.

Insiders Place Their Bets

In related news, EVP Monica Howard Douglas sold 8,874 shares of Coca-Cola stock in a transaction that occurred on Friday, May 10th. The stock was 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 directly owns 33,638 shares of the company’s stock, valued at approximately $2,129,621.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Monica Howard Douglas sold 8,874 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 33,638 shares of the company’s stock, valued at $2,129,621.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bruno Pietracci sold 18,551 shares of the business’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders sold 199,389 shares of company stock worth $12,322,179 over the last three months. 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.