OLD National Bancorp IN Sells 8,681 Shares of The Coca-Cola Company (NYSE:KO)

OLD National Bancorp IN lessened its stake in shares of The Coca-Cola Company (NYSE:KO) by 13.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,359 shares of the company’s stock after selling 8,681 shares during the quarter. OLD National Bancorp IN’s holdings in Coca-Cola were worth $3,262,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. ZRC Wealth Management LLC lifted its position in Coca-Cola by 213.3% in the 4th quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock valued at $26,000 after acquiring an additional 320 shares in the last quarter. Criterion Capital Advisors LLC bought a new position in shares of Coca-Cola during the 4th quarter worth approximately $30,000. Financial Connections Group Inc. bought a new position in shares of Coca-Cola during the 4th quarter worth approximately $38,000. Avion Wealth lifted its position in shares of Coca-Cola by 64.8% during the 4th quarter. Avion Wealth now owns 819 shares of the company’s stock worth $48,000 after buying an additional 322 shares in the last quarter. Finally, Clear Investment Research LLC lifted its position in shares of Coca-Cola by 36.1% during the 3rd quarter. Clear Investment Research LLC now owns 928 shares of the company’s stock worth $52,000 after buying an additional 246 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Up 0.6 %

Coca-Cola stock opened at $60.55 on Tuesday. The Coca-Cola Company has a 1-year low of $51.55 and a 1-year 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. The firm has a market capitalization of $261.04 billion, a price-to-earnings ratio of 24.42, a P/E/G ratio of 3.44 and a beta of 0.59. The firm has a 50 day simple moving average of $59.95 and a 200 day simple moving average of $58.67.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.01. The business had revenue of $10.80 billion during the quarter, compared to the consensus estimate of $10.68 billion. Coca-Cola had a net margin of 23.42% and a return on equity of 42.50%. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.45 earnings per share. 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 disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were given a $0.485 dividend. This is a boost from Coca-Cola’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.20%. Coca-Cola’s payout ratio is presently 78.23%.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Coca-Cola news, 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Nancy Quan sold 57,368 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total transaction of $3,491,990.16. Following the transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $13,594,097.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 375,407 shares of company stock worth $22,795,742. 0.97% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on KO shares. Citigroup lifted their target price on shares of Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. JPMorgan Chase & Co. decreased their price target on shares of Coca-Cola from $66.00 to $65.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Barclays raised their price target on shares of Coca-Cola from $66.00 to $68.00 and gave the stock an “overweight” rating in a research note on Friday, April 12th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $67.09.

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.