OLD National Bancorp IN Grows Position in The Coca-Cola Company (NYSE:KO)

OLD National Bancorp IN boosted its holdings in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 22.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,563 shares of the company's stock after buying an additional 13,251 shares during the period. OLD National Bancorp IN's holdings in Coca-Cola were worth $5,269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the business. Crowley Wealth Management Inc. purchased a new stake in Coca-Cola in the fourth quarter valued at approximately $27,000. Mainstream Capital Management LLC purchased a new stake in shares of Coca-Cola in the 4th quarter valued at $31,000. REAP Financial Group LLC increased its stake in shares of Coca-Cola by 57.5% in the fourth quarter. REAP Financial Group LLC now owns 570 shares of the company's stock worth $35,000 after acquiring an additional 208 shares during the period. Murphy & Mullick Capital Management Corp purchased a new position in shares of Coca-Cola during the fourth quarter worth $38,000. Finally, Hoey Investments Inc. raised its holdings in shares of Coca-Cola by 41.9% during the fourth quarter. Hoey Investments Inc. now owns 613 shares of the company's stock worth $38,000 after purchasing an additional 181 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

Insider Buying and Selling at Coca-Cola

In other news, COO Henrique Braun sold 25,277 shares of the firm's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $71.47, for a total transaction of $1,806,547.19. Following the sale, the chief operating officer now owns 52,466 shares of the company's stock, valued at approximately $3,749,745.02. This trade represents a 32.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James Quincey sold 266,403 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the completion of the transaction, the chief executive officer now owns 275,946 shares in the company, valued at $19,884,668.76. This represents a 49.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 440,664 shares of company stock valued at $31,730,532. Insiders own 0.97% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Coca-Cola from $74.00 to $78.00 and gave the company an "overweight" rating in a report on Monday, April 21st. Cfra Research raised shares of Coca-Cola to a "strong-buy" rating in a research note on Tuesday, April 15th. Morgan Stanley reissued an "overweight" rating and issued a $81.00 price objective on shares of Coca-Cola in a research note on Monday. Evercore ISI raised their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. Finally, DZ Bank upgraded shares of Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price target for the company in a report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Coca-Cola currently has a consensus rating of "Buy" and an average price target of $76.00.

Coca-Cola Stock Up 0.6%

Shares of Coca-Cola stock traded up $0.41 during trading hours on Monday, reaching $71.76. 12,277,074 shares of the company were exchanged, compared to its average volume of 15,806,063. The firm has a market cap of $308.89 billion, a PE ratio of 29.05, a PEG ratio of 3.79 and a beta of 0.46. The stock's fifty day moving average is $71.39 and its 200 day moving average is $67.63. The Coca-Cola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03.

Coca-Cola (NYSE:KO - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.71 by $0.02. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The company had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.23 billion. During the same quarter last year, the company earned $0.72 EPS. Coca-Cola's revenue for the quarter was down .7% compared to the same quarter last year. As a group, equities research analysts forecast that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.84%. The ex-dividend date is Friday, June 13th. Coca-Cola's dividend payout ratio (DPR) is presently 81.60%.

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.