Independence Bank of Kentucky Grows Position in The Coca-Cola Company (NYSE:KO)

Independence Bank of Kentucky lifted its holdings in shares of The Coca-Cola Company (NYSE:KOFree Report) by 3.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,348 shares of the company’s stock after buying an additional 1,220 shares during the period. Coca-Cola makes up 0.8% of Independence Bank of Kentucky’s portfolio, making the stock its 28th biggest position. Independence Bank of Kentucky’s holdings in Coca-Cola were worth $2,201,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. ForthRight Wealth Management LLC boosted its position in shares of Coca-Cola by 61.5% during the fourth quarter. ForthRight Wealth Management LLC now owns 7,521 shares of the company’s stock valued at $443,000 after buying an additional 2,863 shares during the last quarter. Colonial River Wealth Management LLC lifted its holdings in Coca-Cola by 14.0% in the fourth quarter. Colonial River Wealth Management LLC now owns 17,244 shares of the company’s stock valued at $1,016,000 after acquiring an additional 2,118 shares during the period. LMG Wealth Partners LLC lifted its holdings in Coca-Cola by 5.7% in the fourth quarter. LMG Wealth Partners LLC now owns 31,662 shares of the company’s stock valued at $1,866,000 after acquiring an additional 1,720 shares during the period. Benchmark Financial Wealth Advisors LLC lifted its holdings in Coca-Cola by 7.5% in the fourth quarter. Benchmark Financial Wealth Advisors LLC now owns 4,265 shares of the company’s stock valued at $251,000 after acquiring an additional 299 shares during the period. Finally, Buck Wealth Strategies LLC lifted its holdings in Coca-Cola by 29.3% in the fourth quarter. Buck Wealth Strategies LLC now owns 128,396 shares of the company’s stock valued at $7,566,000 after acquiring an additional 29,097 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on KO. Barclays increased their target price on Coca-Cola from $60.00 to $66.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. JPMorgan Chase & Co. increased their target price on Coca-Cola from $64.00 to $66.00 and gave the company an “overweight” rating in a report on Wednesday, February 14th. Finally, Citigroup increased their target price on Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.00.

Read Our Latest Report on Coca-Cola

Coca-Cola Stock Down 0.5 %

Shares of KO opened at $59.83 on Thursday. The business’s 50 day moving average is $60.15 and its 200 day moving average is $58.40. The company has a market capitalization of $257.94 billion, a PE ratio of 24.13, a price-to-earnings-growth ratio of 3.41 and a beta of 0.59. The Coca-Cola Company has a 12-month low of $51.55 and a 12-month high of $64.99. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 1.29.

Coca-Cola (NYSE:KOGet Free Report) last issued its earnings results on Tuesday, February 13th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.01. The company had revenue of $10.80 billion for the quarter, compared to the consensus estimate of $10.68 billion. Coca-Cola had a return on equity of 42.50% and a net margin of 23.42%. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the company earned $0.45 EPS. 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 firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 3.24%. The ex-dividend date was Thursday, March 14th. This is an increase from Coca-Cola’s previous quarterly dividend of $0.46. Coca-Cola’s dividend payout ratio (DPR) is 78.23%.

Insider Activity at Coca-Cola

In other Coca-Cola news, EVP Beatriz R. Perez sold 52,300 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $60.00, for a total transaction of $3,138,000.00. Following the completion of the transaction, the executive vice president now owns 143,383 shares in the company, valued at approximately $8,602,980. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Coca-Cola news, EVP Beatriz R. Perez sold 52,300 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $60.00, for a total transaction of $3,138,000.00. Following the completion of the transaction, the executive vice president now owns 143,383 shares in the company, valued at approximately $8,602,980. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $26,968,753.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 375,407 shares of company stock valued at $22,795,742. 0.97% of the stock is owned by company insiders.

About Coca-Cola

(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.

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

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