City Holding Co. Has $6.90 Million Stake in The Coca-Cola Company (NYSE:KO)

City Holding Co. increased its position in The Coca-Cola Company (NYSE:KO) by 4.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 95,961 shares of the company’s stock after acquiring an additional 3,716 shares during the quarter. Coca-Cola comprises about 1.0% of City Holding Co.’s investment portfolio, making the stock its 25th biggest position. City Holding Co.’s holdings in Coca-Cola were worth $6,896,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of KO. MGO One Seven LLC raised its stake in Coca-Cola by 19.2% during the 4th quarter. MGO One Seven LLC now owns 63,025 shares of the company’s stock valued at $3,714,000 after purchasing an additional 10,157 shares during the last quarter. Icon Wealth Advisors LLC bought a new stake in shares of Coca-Cola in the fourth quarter valued at about $670,000. Jacobi Capital Management LLC grew its position in Coca-Cola by 1.4% during the fourth quarter. Jacobi Capital Management LLC now owns 78,343 shares of the company’s stock worth $4,617,000 after buying an additional 1,116 shares in the last quarter. Putnam Investments LLC increased its stake in Coca-Cola by 32.8% during the fourth quarter. Putnam Investments LLC now owns 12,032,095 shares of the company’s stock valued at $709,051,000 after acquiring an additional 2,973,234 shares during the period. Finally, Caxton Associates LP raised its holdings in Coca-Cola by 3,032.9% in the 4th quarter. Caxton Associates LP now owns 217,581 shares of the company’s stock valued at $12,822,000 after acquiring an additional 210,636 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on KO shares. TD Cowen raised their target price on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Bank of America lifted their target price on shares of Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Wells Fargo & Company upped their price objective on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Finally, Truist Financial raised their target price on Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $71.07.

Coca-Cola Price Performance

KO opened at $69.16 on Wednesday. The company has a fifty day moving average price of $70.40 and a two-hundred day moving average price of $65.21. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08. The firm has a market capitalization of $297.94 billion, a PE ratio of 27.66, a P/E/G ratio of 3.97 and a beta of 0.60. The Coca-Cola Company has a 52 week low of $52.11 and a 52 week high of $73.53.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. The firm had revenue of $12.40 billion for the quarter, compared to analysts’ expectations of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The company’s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.78 earnings per share. As a group, analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend was Friday, September 13th. Coca-Cola’s payout ratio is presently 77.60%.

Insiders Place Their Bets

In other Coca-Cola news, insider Bruno Pietracci sold 38,653 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total transaction of $2,667,443.53. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total value of $7,179,360.66. Following the sale, the chief executive officer now owns 442,546 shares in the company, valued at approximately $30,987,070.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Bruno Pietracci sold 38,653 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $69.01, for a total transaction of $2,667,443.53. The disclosure for this sale can be found here. Insiders sold 376,096 shares of company stock worth $25,982,352 over the last ninety days. 0.97% of the stock is currently owned by corporate 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.