Gulf International Bank UK Ltd Lowers Stock Holdings in The Coca-Cola Company (NYSE:KO)

Gulf International Bank UK Ltd cut its holdings in shares of The Coca-Cola Company (NYSE:KO) by 1.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 320,149 shares of the company’s stock after selling 3,342 shares during the quarter. Coca-Cola makes up about 0.5% of Gulf International Bank UK Ltd’s investment portfolio, making the stock its 27th biggest position. Gulf International Bank UK Ltd’s holdings in Coca-Cola were worth $19,932,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Wells Trecaso Financial Group LLC grew its position in Coca-Cola by 4.8% in the 4th quarter. Wells Trecaso Financial Group LLC now owns 3,616 shares of the company’s stock valued at $225,000 after acquiring an additional 164 shares in the last quarter. Atlas Brown Inc. raised its stake in Coca-Cola by 0.8% during the 4th quarter. Atlas Brown Inc. now owns 21,024 shares of the company’s stock worth $1,309,000 after acquiring an additional 166 shares in the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO grew its position in Coca-Cola by 0.4% during the 4th quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 39,198 shares of the company’s stock worth $2,440,000 after purchasing an additional 169 shares during the last quarter. Great Diamond Partners LLC grew its position in Coca-Cola by 1.7% during the 4th quarter. Great Diamond Partners LLC now owns 10,314 shares of the company’s stock worth $642,000 after purchasing an additional 169 shares during the last quarter. Finally, Wallace Advisory Group LLC grew its position in Coca-Cola by 2.3% during the 4th quarter. Wallace Advisory Group LLC now owns 7,513 shares of the company’s stock worth $468,000 after purchasing an additional 172 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Bruno Pietracci sold 19,058 shares of Coca-Cola stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $70.56, for a total value of $1,344,732.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.97% of the stock is owned by company insiders.

Coca-Cola Stock Performance

Shares of KO opened at $70.80 on Thursday. The firm has a 50-day moving average price of $64.19 and a 200 day moving average price of $66.47. The firm has a market capitalization of $304.53 billion, a PE ratio of 28.67, a P/E/G ratio of 3.79 and a beta of 0.61. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.53.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. On average, sell-side analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $0.51 dividend. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.04 annualized dividend and a dividend yield of 2.88%. Coca-Cola’s dividend payout ratio (DPR) is presently 82.59%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on KO. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Wednesday, January 8th. Evercore ISI boosted their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Piper Sandler cut their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their price objective for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. Finally, DZ Bank upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.82.

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.