BTC Capital Management Inc. Takes $269,000 Position in The Coca-Cola Company (NYSE:KO)

BTC Capital Management Inc. bought a new position in The Coca-Cola Company (NYSE:KO) during the first quarter, Holdings Channel reports. The firm bought 4,389 shares of the company’s stock, valued at approximately $269,000.

Other institutional investors have also added to or reduced their stakes in the company. Ontario Teachers Pension Plan Board bought a new stake in shares of Coca-Cola in the 3rd quarter worth about $1,255,000. Gallacher Capital Management LLC bought a new stake in Coca-Cola in the third quarter worth about $228,000. Syntax Advisors LLC boosted its position in shares of Coca-Cola by 4.4% during the third quarter. Syntax Advisors LLC now owns 4,220 shares of the company’s stock valued at $236,000 after buying an additional 179 shares during the period. Cary Street Partners Investment Advisory LLC grew its stake in shares of Coca-Cola by 7.0% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 106,866 shares of the company’s stock valued at $5,982,000 after buying an additional 7,003 shares during the last quarter. Finally, Personal CFO Solutions LLC raised its holdings in shares of Coca-Cola by 5.2% in the third quarter. Personal CFO Solutions LLC now owns 18,921 shares of the company’s stock worth $1,059,000 after buying an additional 934 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Up 0.9 %

Shares of Coca-Cola stock opened at $62.77 on Friday. 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 stock has a market cap of $270.41 billion, a price-to-earnings ratio of 25.11, a PEG ratio of 3.51 and a beta of 0.59. The firm’s 50-day moving average is $62.21 and its two-hundred day moving average is $60.60. The Coca-Cola Company has a 1 year low of $51.55 and a 1 year high of $64.36.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.02. The firm had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $11.01 billion. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The company’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.68 EPS. As a group, research analysts expect that The Coca-Cola Company will post 2.82 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a dividend of $0.485 per share. The ex-dividend date is Friday, June 14th. This represents a $1.94 annualized dividend and a yield of 3.09%. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Analysts Set New Price Targets

KO has been the subject of a number of recent analyst reports. UBS Group boosted their price objective on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. StockNews.com lowered shares of Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. Barclays raised their price target 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. JPMorgan Chase & Co. boosted their price objective on shares of Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Finally, Evercore ISI raised their target price on shares of Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $68.55.

Insider Activity

In related news, EVP Beatriz R. Perez sold 57,298 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the completion of the sale, the executive vice president now directly owns 167,107 shares in the company, valued at approximately $10,358,962.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Beatriz R. Perez sold 57,298 shares of Coca-Cola stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $61.99, for a total value of $3,551,903.02. Following the transaction, the executive vice president now owns 167,107 shares of the company’s stock, valued at approximately $10,358,962.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Nikolaos Koumettis sold 80,891 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $62.34, for a total transaction of $5,042,744.94. Following the sale, the insider now directly owns 218,880 shares of the company’s stock, valued at approximately $13,644,979.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 223,665 shares of company stock worth $13,995,465. 0.97% of the stock is currently owned by company insiders.

About Coca-Cola

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.