Zurcher Kantonalbank Zurich Cantonalbank Has $117.71 Million Holdings in The Coca-Cola Company (NYSE:KO)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its position in The Coca-Cola Company (NYSE:KO - Free Report) by 13.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,890,658 shares of the company's stock after selling 304,191 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Coca-Cola were worth $117,712,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Mainstream Capital Management LLC acquired a new stake in Coca-Cola in the fourth quarter valued at approximately $31,000. Retirement Wealth Solutions LLC purchased a new stake in Coca-Cola during the 4th quarter worth $37,000. MilWealth Group LLC acquired a new position in Coca-Cola in the 4th quarter worth $40,000. MidAtlantic Capital Management Inc. purchased a new position in Coca-Cola in the 3rd quarter valued at about $43,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in shares of Coca-Cola during the fourth quarter valued at about $43,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Stock Performance

KO traded down $1.08 during trading on Wednesday, reaching $69.96. 5,926,285 shares of the company were exchanged, compared to its average volume of 14,000,196. 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 has a market cap of $300.92 billion, a P/E ratio of 28.32, a PEG ratio of 3.79 and a beta of 0.57. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53. The firm has a 50 day moving average of $65.72 and a 200 day moving average of $66.58.

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Coca-Cola (NYSE:KO - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, topping analysts' consensus estimates of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. On average, sell-side analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.51 per share. The ex-dividend date is Friday, March 14th. This represents a $2.04 annualized dividend and a yield of 2.92%. This is an increase from Coca-Cola's previous quarterly dividend of $0.49. Coca-Cola's payout ratio is presently 82.59%.

Insiders Place Their Bets

In other news, insider Nikolaos Koumettis sold 55,500 shares of the 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 completion of the sale, the insider now owns 246,909 shares in the company, valued at approximately $17,533,008.09. This represents a 18.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Bruno Pietracci sold 19,058 shares of the firm's stock in a transaction 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 quarter, insiders sold 288,146 shares of company stock worth $20,456,524. 0.97% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on KO shares. Wells Fargo & Company increased their price target on Coca-Cola from $70.00 to $75.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. DZ Bank upgraded Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 target price for the company in a research note on Thursday, February 13th. JPMorgan Chase & Co. dropped their price target 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, January 28th. Morgan Stanley increased their price objective on shares of Coca-Cola from $76.00 to $78.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. Finally, UBS Group boosted their target price on shares of Coca-Cola from $72.00 to $78.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $74.24.

About Coca-Cola

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.