OLD National Bancorp IN Sells 380 Shares of The Coca-Cola Company (NYSE:KO)

OLD National Bancorp IN lessened its holdings in shares of The Coca-Cola Company (NYSE:KO) by 0.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 58,036 shares of the company’s stock after selling 380 shares during the quarter. OLD National Bancorp IN’s holdings in Coca-Cola were worth $4,170,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in KO. Cyndeo Wealth Partners LLC lifted its holdings in shares of Coca-Cola by 28.5% during the 3rd quarter. Cyndeo Wealth Partners LLC now owns 207,701 shares of the company’s stock valued at $14,925,000 after purchasing an additional 46,124 shares in the last quarter. Pure Portfolios Holdings LLC bought a new position in Coca-Cola in the third quarter valued at approximately $795,000. Werba Rubin Papier Wealth Management boosted its holdings in shares of Coca-Cola by 15.8% in the third quarter. Werba Rubin Papier Wealth Management now owns 5,335 shares of the company’s stock valued at $383,000 after buying an additional 728 shares during the period. Resonant Capital Advisors LLC increased its position in shares of Coca-Cola by 15.3% during the third quarter. Resonant Capital Advisors LLC now owns 7,972 shares of the company’s stock worth $577,000 after acquiring an additional 1,055 shares in the last quarter. Finally, Revolve Wealth Partners LLC raised its holdings in shares of Coca-Cola by 4.1% during the third quarter. Revolve Wealth Partners LLC now owns 8,502 shares of the company’s stock worth $611,000 after acquiring an additional 331 shares during the period. 70.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Coca-Cola news, EVP Nancy Quan sold 37,787 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $66.96, for a total value of $2,530,217.52. Following the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $14,954,176.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Bruno Pietracci sold 38,653 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $69.01, for a total value of $2,667,443.53. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Nancy Quan sold 37,787 shares of Coca-Cola stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $66.96, for a total transaction of $2,530,217.52. Following the completion of the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $14,954,176.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 356,792 shares of company stock valued at $24,728,364. Company insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on KO. JPMorgan Chase & Co. upped their target price on shares of Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Royal Bank of Canada boosted their target price on Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Barclays raised their price target on shares of Coca-Cola from $70.00 to $74.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Wells Fargo & Company boosted their price objective on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Finally, StockNews.com lowered shares of Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.00.

Coca-Cola Trading Up 0.8 %

Coca-Cola stock opened at $70.44 on Monday. The stock has a 50-day simple moving average of $70.70 and a 200 day simple moving average of $65.80. The stock has a market capitalization of $303.45 billion, a P/E ratio of 28.18, a PEG ratio of 3.92 and a beta of 0.60. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08. The Coca-Cola Company has a 52 week low of $53.86 and a 52 week high of $73.53.

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

Coca-Cola Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio is presently 77.60%.

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.