Park National Corp OH Buys 67,604 Shares of The Coca-Cola Company (NYSE:KO)

Park National Corp OH boosted its position in The Coca-Cola Company (NYSE:KO) by 17.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 465,638 shares of the company’s stock after acquiring an additional 67,604 shares during the period. Park National Corp OH’s holdings in Coca-Cola were worth $28,991,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of KO. Quarry LP acquired a new position in shares of Coca-Cola during the second quarter valued at about $27,000. Hara Capital LLC acquired a new position in Coca-Cola during the 3rd quarter valued at approximately $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Coca-Cola in the third quarter worth $36,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Coca-Cola during the third quarter worth $43,000. Finally, ORG Wealth Partners LLC purchased a new stake in shares of Coca-Cola during the third quarter valued at $58,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Trading Down 0.2 %

Shares of Coca-Cola stock opened at $60.70 on Wednesday. The Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The company has a market cap of $261.48 billion, a P/E ratio of 25.08, a price-to-earnings-growth ratio of 3.83 and a beta of 0.61. The firm has a 50-day simple moving average of $63.15 and a two-hundred day simple moving average of $66.55.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The company had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. Coca-Cola’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.74 earnings per share. As a group, equities analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were issued a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 3.20%. The ex-dividend date was Friday, November 29th. Coca-Cola’s payout ratio is presently 80.17%.

Analyst Ratings Changes

KO has been the subject of a number of research analyst reports. Morgan Stanley reduced their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Piper Sandler began coverage on Coca-Cola in a report on Tuesday. They set an “overweight” rating and a $74.00 target price for the company. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Wells Fargo & Company decreased their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, Truist Financial upped their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $72.60.

Insiders Place Their Bets

In other news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the transaction, the chief executive officer now owns 342,546 shares in the company, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.97% of the stock is currently owned by company insiders.

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.