Stock Yards Bank & Trust Co. Cuts Position in The Coca-Cola Company (NYSE:KO)

Stock Yards Bank & Trust Co. reduced its holdings in The Coca-Cola Company (NYSE:KO - Free Report) by 1.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 244,961 shares of the company's stock after selling 3,700 shares during the quarter. Stock Yards Bank & Trust Co.'s holdings in Coca-Cola were worth $17,544,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in KO. Crowley Wealth Management Inc. purchased a new position in shares of Coca-Cola in the 4th quarter valued at approximately $27,000. Mainstream Capital Management LLC purchased a new position in Coca-Cola during the fourth quarter valued at $31,000. REAP Financial Group LLC raised 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 purchasing an additional 208 shares during the last quarter. Murphy & Mullick Capital Management Corp purchased a new position in shares of Coca-Cola in the fourth quarter worth $38,000. Finally, Hoey Investments Inc. grew its holdings in shares of Coca-Cola by 41.9% in the fourth quarter. Hoey Investments Inc. now owns 613 shares of the company's stock worth $38,000 after acquiring an additional 181 shares during the period. 70.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on KO. Barclays reaffirmed an "overweight" rating on shares of Coca-Cola in a report on Thursday, March 27th. Cfra Research raised Coca-Cola to a "strong-buy" rating in a report on Tuesday, April 15th. Morgan Stanley reissued an "overweight" rating and set a $81.00 price target on shares of Coca-Cola in a report on Monday, June 9th. Piper Sandler boosted their price target on Coca-Cola from $73.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Finally, Royal Bank of Canada boosted their price target on Coca-Cola from $73.00 to $76.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Coca-Cola currently has an average rating of "Buy" and an average target price of $76.00.

Insider Transactions at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 266,403 shares of Coca-Cola stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the completion of the sale, the chief executive officer now owns 275,946 shares of the company's stock, valued at approximately $19,884,668.76. The trade was a 49.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO John Murphy sold 88,658 shares of Coca-Cola stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total value of $6,391,355.22. Following the transaction, the chief financial officer now owns 205,511 shares of the company's stock, valued at $14,815,287.99. The trade was a 30.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold 415,387 shares of company stock valued at $29,923,985 in the last quarter. 0.97% of the stock is currently owned by corporate insiders.

Coca-Cola Stock Down 1.8%

Shares of Coca-Cola stock traded down $1.30 during trading on Friday, reaching $70.94. The company's stock had a trading volume of 17,424,785 shares, compared to its average volume of 15,884,646. 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 company has a market cap of $305.36 billion, a price-to-earnings ratio of 28.72, a P/E/G ratio of 3.79 and a beta of 0.46. The Coca-Cola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The company has a 50-day simple moving average of $71.56 and a two-hundred day simple moving average of $67.87.

Coca-Cola (NYSE:KO - Get Free Report) last posted its quarterly earnings data 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 return on equity of 45.37% and a net margin of 22.59%. The business's quarterly revenue was down .7% on a year-over-year basis. During the same quarter last year, the firm earned $0.72 EPS. As a group, equities analysts forecast that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a $0.51 dividend. The ex-dividend date is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.88%. Coca-Cola's payout ratio is 81.60%.

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.