The Coca-Cola Company (NYSE:KO) Position Lessened by Amalgamated Bank

Amalgamated Bank lowered its position in The Coca-Cola Company (NYSE:KO) by 5.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 947,152 shares of the company’s stock after selling 49,972 shares during the period. Coca-Cola accounts for 0.4% of Amalgamated Bank’s portfolio, making the stock its 29th largest holding. Amalgamated Bank’s holdings in Coca-Cola were worth $55,816,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. ZRC Wealth Management LLC boosted its holdings in Coca-Cola by 213.3% in the fourth quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock worth $26,000 after purchasing an additional 320 shares in the last quarter. Criterion Capital Advisors LLC acquired a new position in shares of Coca-Cola during the 4th quarter valued at about $30,000. Financial Connections Group Inc. bought a new position in shares of Coca-Cola in the 4th quarter valued at approximately $38,000. Avion Wealth lifted its holdings in Coca-Cola by 64.8% in the 4th quarter. Avion Wealth now owns 819 shares of the company’s stock worth $48,000 after purchasing an additional 322 shares during the last quarter. Finally, Fortitude Family Office LLC acquired a new position in Coca-Cola in the 4th quarter valued at $53,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Coca-Cola

In related news, insider Bruno Pietracci sold 18,551 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $59.41, for a total value of $1,102,114.91. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO James Quincey sold 247,188 shares of Coca-Cola stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the completion of the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $26,968,753.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Bruno Pietracci sold 18,551 shares of the business’s stock in a transaction dated 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. In the last 90 days, insiders sold 323,107 shares of company stock valued at $19,657,742. Company insiders own 0.97% of the company’s stock.

Coca-Cola Trading Up 0.1 %

Coca-Cola stock traded up $0.06 during trading hours on Thursday, reaching $61.99. 10,972,184 shares of the company’s stock traded hands, compared to its average volume of 14,004,049. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $64.25. The firm has a market capitalization of $267.25 billion, a price-to-earnings ratio of 24.88, a PEG ratio of 3.53 and a beta of 0.57. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.95 and a current ratio of 1.04. The firm’s 50 day moving average is $60.21 and its 200-day moving average is $59.04.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The firm had revenue of $11.30 billion during the quarter, compared to analyst estimates of $11.01 billion. During the same period in the prior year, the business earned $0.68 EPS. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, analysts predict that The Coca-Cola Company will post 2.81 earnings per share for the current year.

Coca-Cola Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were issued a $0.485 dividend. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.46. This represents a $1.94 annualized dividend and a yield of 3.13%. The ex-dividend date was Thursday, March 14th. Coca-Cola’s dividend payout ratio (DPR) is currently 77.60%.

Analysts Set New Price Targets

KO has been the topic of several research reports. Barclays boosted their price target on Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a research note on Thursday. JPMorgan Chase & Co. lifted their price objective on Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday. UBS Group raised their target price on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday. Evercore ISI lifted their price target on shares of Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Citigroup upped their price objective on shares of Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Coca-Cola presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.27.

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.