Park National Corp OH Lowers Holdings in The Coca-Cola Company (NYSE:KO)

Park National Corp OH lowered its stake in The Coca-Cola Company (NYSE:KO - Free Report) by 9.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 420,369 shares of the company's stock after selling 45,269 shares during the period. Coca-Cola accounts for approximately 1.1% of Park National Corp OH's holdings, making the stock its 28th biggest holding. Park National Corp OH's holdings in Coca-Cola were worth $30,107,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Crowley Wealth Management Inc. bought a new stake in shares of Coca-Cola during the 4th quarter valued at $27,000. Mainstream Capital Management LLC bought a new stake in Coca-Cola during the fourth quarter worth about $31,000. REAP Financial Group LLC boosted its stake in Coca-Cola by 57.5% during 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 in the last quarter. Murphy & Mullick Capital Management Corp purchased a new stake in Coca-Cola in the fourth quarter worth about $38,000. Finally, Hoey Investments Inc. increased its stake in shares of Coca-Cola by 41.9% during the fourth quarter. Hoey Investments Inc. now owns 613 shares of the company's stock valued at $38,000 after purchasing an additional 181 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Stock Performance

KO stock traded up $0.64 on Friday, hitting $72.13. The company had a trading volume of 28,013,099 shares, compared to its average volume of 15,764,752. The stock has a market cap of $310.47 billion, a price-to-earnings ratio of 29.20, a P/E/G ratio of 3.79 and a beta of 0.47. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The stock's 50-day simple moving average is $71.28 and its 200 day simple moving average is $67.20. The Coca-Cola Company has a 12-month low of $60.62 and a 12-month high of $74.38.

Coca-Cola (NYSE:KO - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.23 billion. During the same period last year, the business posted $0.72 EPS. The company's revenue for the quarter was down .7% on a year-over-year basis. As a group, equities research analysts expect that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

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 paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.83%. Coca-Cola's dividend payout ratio is currently 81.60%.

Insider Activity

In related news, insider Nikolaos Koumettis sold 55,500 shares of Coca-Cola stock in a transaction on Friday, March 7th. The stock was sold at an average price of $71.01, for a total transaction of $3,941,055.00. Following the transaction, the insider now directly owns 246,909 shares in the company, valued at approximately $17,533,008.09. The trade was a 18.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Henrique Braun sold 25,277 shares of the company's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $71.47, for a total value of $1,806,547.19. Following the completion of the sale, the chief operating officer now owns 52,466 shares of the company's stock, valued at approximately $3,749,745.02. The trade was a 32.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold 229,761 shares of company stock valued at $16,474,587 in the last quarter. 0.97% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Jefferies Financial Group upgraded Coca-Cola from a "hold" rating to a "buy" rating and upped their price target for the stock from $69.00 to $75.00 in a research note on Thursday, January 30th. UBS Group increased their target price on Coca-Cola from $84.00 to $86.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. DZ Bank raised Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price target for the company in a research report on Thursday, February 13th. Evercore ISI upped their price target 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, Piper Sandler raised their price objective on shares of Coca-Cola from $73.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $75.81.

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.