Fifth Third Bancorp Has $118.35 Million Stock Holdings in The Coca-Cola Company (NYSE:KO)

Fifth Third Bancorp reduced its position in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 1.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,652,483 shares of the company's stock after selling 20,084 shares during the period. Fifth Third Bancorp's holdings in Coca-Cola were worth $118,351,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in KO. Charles Schwab Investment Management Inc. grew its holdings in Coca-Cola by 18.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company's stock worth $4,617,400,000 after buying an additional 11,569,920 shares in the last quarter. Norges Bank bought a new position in shares of Coca-Cola during the 4th quarter worth $3,402,151,000. Northern Trust Corp lifted its holdings in Coca-Cola by 9.5% during the 4th quarter. Northern Trust Corp now owns 43,802,296 shares of the company's stock worth $2,727,131,000 after purchasing an additional 3,811,756 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Coca-Cola by 21.9% during the 4th quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company's stock worth $2,123,301,000 after purchasing an additional 6,118,819 shares in the last quarter. Finally, Capital International Investors lifted its holdings in Coca-Cola by 96.0% during the 4th quarter. Capital International Investors now owns 24,949,194 shares of the company's stock worth $1,553,337,000 after purchasing an additional 12,222,885 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Trading Up 0.2%

Shares of KO stock traded up $0.17 on Thursday, reaching $72.24. 12,747,632 shares of the stock were exchanged, compared to its average volume of 15,822,629. The stock has a market cap of $310.94 billion, a P/E ratio of 29.25, a price-to-earnings-growth ratio of 3.79 and a beta of 0.46. 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 firm has a 50 day moving average of $71.42 and a two-hundred day moving average of $67.74. The Coca-Cola Company has a 1-year low of $60.62 and a 1-year high of $74.38.

Coca-Cola (NYSE:KO - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates of $0.71 by $0.02. The firm had revenue of $11.13 billion during the quarter, compared to analysts' expectations of $11.23 billion. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The firm's revenue was down .7% on a year-over-year basis. During the same period in the prior year, the company earned $0.72 EPS. On average, research analysts anticipate that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 annualized dividend and a yield of 2.82%. Coca-Cola's dividend payout ratio (DPR) is 81.60%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Piper Sandler raised their price objective on Coca-Cola from $73.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, February 28th. JPMorgan Chase & Co. boosted their price target on Coca-Cola from $74.00 to $78.00 and gave the stock an "overweight" rating in a research note on Monday, April 21st. Evercore ISI upped their price objective on Coca-Cola from $72.00 to $75.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. Wells Fargo & Company raised their price objective on Coca-Cola from $70.00 to $75.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. Finally, DZ Bank upgraded Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price objective on the stock in a report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $76.00.

Insider Buying and Selling at Coca-Cola

In related news, EVP Beatriz R. Perez sold 60,326 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $71.87, for a total value of $4,335,629.62. Following the completion of the transaction, the executive vice president now owns 187,716 shares of the company's stock, valued at approximately $13,491,148.92. This trade represents a 24.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO John Murphy sold 88,658 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the completion of the sale, the chief financial officer now owns 205,511 shares of the company's stock, valued at approximately $14,815,287.99. The trade was a 30.14% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 415,387 shares of company stock worth $29,923,985. 0.97% of the stock is owned by company insiders.

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.