Bokf Na Cuts Stock Holdings in The Coca-Cola Company (NYSE:KO)

Bokf Na cut its stake in The Coca-Cola Company (NYSE:KO) by 7.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 431,391 shares of the company’s stock after selling 32,551 shares during the period. Bokf Na’s holdings in Coca-Cola were worth $27,458,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Coca-Cola during the fourth quarter worth about $2,808,056,000. Price T Rowe Associates Inc. MD grew its holdings in Coca-Cola by 21.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock worth $3,016,023,000 after acquiring an additional 8,733,326 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of Coca-Cola by 11,127.2% in the 4th quarter. Fisher Asset Management LLC now owns 4,972,733 shares of the company’s stock valued at $293,043,000 after purchasing an additional 4,928,441 shares during the last quarter. Pathstone Holdings LLC acquired a new stake in shares of Coca-Cola in the 4th quarter valued at $193,342,000. Finally, Putnam Investments LLC lifted its position in shares of Coca-Cola by 32.8% during the 4th quarter. Putnam Investments LLC now owns 12,032,095 shares of the company’s stock worth $709,051,000 after purchasing an additional 2,973,234 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Stock Performance

NYSE:KO opened at $71.06 on Thursday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The firm has a market cap of $306.10 billion, a price-to-earnings ratio of 28.42, a price-to-earnings-growth ratio of 3.94 and a beta of 0.60. The firm’s fifty day moving average price is $67.97 and its 200 day moving average price is $63.78. The Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $73.53.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.03. The business had revenue of $12.40 billion for the quarter, compared to the consensus estimate of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.78 earnings per share. On average, sell-side analysts expect that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be issued a $0.485 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.94 annualized dividend and a dividend yield of 2.73%. Coca-Cola’s dividend payout ratio is currently 77.60%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on KO shares. Morgan Stanley raised their price target on Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a research note on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Royal Bank of Canada increased their target price on shares of Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Wells Fargo & Company lifted their target price on Coca-Cola from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. upped their target price on Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola presently has an average rating of “Moderate Buy” and an average target price of $70.73.

Insider Activity at Coca-Cola

In other Coca-Cola news, insider Nikolaos Koumettis sold 80,891 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $62.34, for a total value of $5,042,744.94. Following the completion of the transaction, the insider now owns 218,880 shares in the company, valued at $13,644,979.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the completion of the sale, the insider now directly owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Nikolaos Koumettis sold 80,891 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $62.34, for a total value of $5,042,744.94. Following the completion of the sale, the insider now owns 218,880 shares in the company, valued at approximately $13,644,979.20. The disclosure for this sale can be found here. Insiders have sold a total of 1,055,606 shares of company stock worth $584,747,672 over the last three months. 0.97% of the stock is currently owned by corporate insiders.

Coca-Cola Company 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.