First Financial Bank Trust Division Trims Position in The Coca-Cola Company (NYSE:KO)

First Financial Bank Trust Division cut its position in shares of The Coca-Cola Company (NYSE:KOFree Report) by 2.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,532 shares of the company’s stock after selling 305 shares during the quarter. First Financial Bank Trust Division’s holdings in Coca-Cola were worth $828,000 as of its most recent filing with the Securities & Exchange Commission.

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

Coca-Cola Stock Performance

Coca-Cola stock traded up $0.03 during mid-day trading on Tuesday, reaching $62.65. 2,905,913 shares of the stock traded hands, compared to its average volume of 12,983,910. The stock has a market capitalization of $269.89 billion, a PE ratio of 25.05, a price-to-earnings-growth ratio of 3.53 and a beta of 0.59. 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 12-month low of $51.55 and a 12-month high of $64.36. The business’s 50-day moving average is $61.92 and its 200-day moving average is $60.51.

Coca-Cola (NYSE:KOGet Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. The company 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 42.74% and a net margin of 23.41%. Coca-Cola’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.68 earnings per share. As a group, sell-side analysts predict that The Coca-Cola Company will post 2.82 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend is Friday, June 14th. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Insider Activity at Coca-Cola

In other Coca-Cola news, EVP Beatriz R. Perez sold 57,298 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $61.99, for a total value of $3,551,903.02. Following the completion of the sale, the executive vice president now owns 167,107 shares in the company, valued at $10,358,962.93. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Coca-Cola news, EVP Nancy Quan sold 19,304 shares of the company’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $63.44, for a total value of $1,224,645.76. Following the completion of the sale, the executive vice president now owns 223,330 shares in the company, valued at $14,168,055.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Beatriz R. Perez sold 57,298 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $61.99, for a total value of $3,551,903.02. Following the completion of the sale, the executive vice president now owns 167,107 shares of the company’s stock, valued at approximately $10,358,962.93. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 142,774 shares of company stock worth $8,952,720. 0.97% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on KO. Barclays boosted their target price on Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. UBS Group boosted their target price on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. StockNews.com downgraded Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday. Argus upped their price target on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, May 22nd. Finally, JPMorgan Chase & Co. upped their price target on Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $68.55.

Read Our Latest Stock Analysis on Coca-Cola

Coca-Cola Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

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