1ST Source Bank Reduces Holdings in The Coca-Cola Company (NYSE:KO)

1ST Source Bank reduced its stake in The Coca-Cola Company (NYSE:KO) by 2.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,430 shares of the company’s stock after selling 405 shares during the quarter. 1ST Source Bank’s holdings in Coca-Cola were worth $1,210,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Mainstream Capital Management LLC acquired a new stake in shares of Coca-Cola during the fourth quarter worth $31,000. MidAtlantic Capital Management Inc. purchased a new position in Coca-Cola in the 3rd quarter worth $43,000. Retirement Wealth Solutions LLC acquired a new stake in Coca-Cola during the 4th quarter worth about $37,000. MilWealth Group LLC purchased a new stake in Coca-Cola during the 4th quarter valued at about $40,000. Finally, Hara Capital LLC increased its holdings in shares of Coca-Cola by 43.7% in the fourth quarter. Hara Capital LLC now owns 691 shares of the company’s stock valued at $43,000 after purchasing an additional 210 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Price Performance

Shares of NYSE KO opened at $69.16 on Monday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The firm has a fifty day moving average of $66.18 and a 200 day moving average of $66.54. The firm has a market cap of $297.47 billion, a PE ratio of 28.00, a PEG ratio of 3.79 and a beta of 0.57. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. As a group, research analysts predict that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.95%. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date is Friday, March 14th. Coca-Cola’s payout ratio is presently 82.59%.

Analysts Set New Price Targets

KO has been the topic of a number of recent research reports. Barclays upped their target price on Coca-Cola from $66.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and increased their price objective for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. Piper Sandler raised their target price on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. decreased their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.24.

Insider Activity at Coca-Cola

In other Coca-Cola news, insider Nikolaos Koumettis sold 54,708 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $70.96, for a total value of $3,882,079.68. Following the completion of the sale, the insider now owns 246,909 shares in the company, valued at approximately $17,520,662.64. This represents a 18.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bruno Pietracci sold 19,058 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $70.56, for a total value of $1,344,732.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 313,423 shares of company stock valued at $22,263,071. 0.97% of the stock is owned by 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.