The Coca-Cola Company (NYSE:KO) Shares Purchased by Park National Corp OH

Park National Corp OH lifted its holdings in The Coca-Cola Company (NYSE:KO - Free Report) by 17.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 465,638 shares of the company's stock after acquiring an additional 67,604 shares during the quarter. Park National Corp OH's holdings in Coca-Cola were worth $28,991,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Harvest Portfolios Group Inc. acquired a new stake in shares of Coca-Cola during the 3rd quarter worth approximately $18,383,000. Balentine LLC boosted its holdings in Coca-Cola by 92.4% during the third quarter. Balentine LLC now owns 28,493 shares of the company's stock worth $2,048,000 after buying an additional 13,685 shares in the last quarter. Sheaff Brock Investment Advisors LLC grew its position in Coca-Cola by 104.9% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company's stock valued at $8,351,000 after buying an additional 59,503 shares during the period. CIBC Asset Management Inc increased its holdings in Coca-Cola by 5.8% in the third quarter. CIBC Asset Management Inc now owns 850,802 shares of the company's stock valued at $61,122,000 after buying an additional 46,541 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its position in shares of Coca-Cola by 4.8% in the third quarter. State of Alaska Department of Revenue now owns 457,782 shares of the company's stock worth $32,895,000 after acquiring an additional 21,005 shares during the period. Hedge funds and other institutional investors own 70.26% of the company's stock.

Coca-Cola Trading Up 1.5 %

Coca-Cola stock traded up $0.89 during trading on Wednesday, reaching $61.73. 14,400,387 shares of the company were exchanged, compared to its average volume of 14,642,613. The stock's 50 day simple moving average is $63.07 and its two-hundred day simple moving average is $66.52. The company has a market capitalization of $265.92 billion, a P/E ratio of 25.51, a PEG ratio of 3.83 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.53.

Coca-Cola (NYSE:KO - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The firm had revenue of $11.85 billion for the quarter, compared to analysts' expectations of $11.61 billion. During the same quarter in the previous year, the company posted $0.74 EPS. The company's revenue was down .8% compared to the same quarter last year. On average, equities research analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 3.14%. The ex-dividend date was Friday, November 29th. Coca-Cola's payout ratio is presently 80.17%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Hsbc Global Res upgraded Coca-Cola to a "strong-buy" rating in a research note on Friday, September 27th. Truist Financial boosted their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. Barclays decreased their target price on Coca-Cola from $74.00 to $73.00 and set an "overweight" rating on the stock in a research report on Friday, October 25th. Wells Fargo & Company reduced 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 report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a "hold" rating to a "buy" rating and lifted their target price for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Coca-Cola has a consensus rating of "Moderate Buy" and a consensus price target of $72.60.

Insider Activity at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction 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 sale, the chief executive officer now owns 342,546 shares in the company, valued at $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.97% of the stock is currently 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.