Zions Bancorporation N.A. Purchases 20,893 Shares of The Coca-Cola Company (NYSE:KO)

Zions Bancorporation N.A. boosted its position in The Coca-Cola Company (NYSE:KO) by 34.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 82,242 shares of the company’s stock after acquiring an additional 20,893 shares during the quarter. Zions Bancorporation N.A.’s holdings in Coca-Cola were worth $5,120,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. TIAA Trust National Association raised its holdings in shares of Coca-Cola by 2.1% during the 4th quarter. TIAA Trust National Association now owns 483,274 shares of the company’s stock worth $30,088,000 after buying an additional 9,909 shares in the last quarter. FineMark National Bank & Trust grew its position in Coca-Cola by 0.9% in the fourth quarter. FineMark National Bank & Trust now owns 212,621 shares of the company’s stock valued at $13,238,000 after acquiring an additional 1,810 shares during the last quarter. Modern Wealth Management LLC raised its stake in Coca-Cola by 19.3% during the fourth quarter. Modern Wealth Management LLC now owns 36,503 shares of the company’s stock worth $2,356,000 after acquiring an additional 5,895 shares in the last quarter. CoreFirst Bank & Trust bought a new position in shares of Coca-Cola in the fourth quarter worth about $872,000. Finally, Grantvest Financial Group LLC acquired a new stake in shares of Coca-Cola in the 4th quarter valued at approximately $204,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Price Performance

Shares of NYSE KO opened at $68.97 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The company has a market capitalization of $296.81 billion, a PE ratio of 27.92, a P/E/G ratio of 3.79 and a beta of 0.57. The firm has a fifty day simple moving average of $67.15 and a 200 day simple moving average of $66.42. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53.

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

Coca-Cola Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $0.51 per share. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date is Friday, March 14th. This represents a $2.04 annualized dividend and a dividend yield of 2.96%. Coca-Cola’s dividend payout ratio (DPR) is 82.59%.

Insider Activity

In other Coca-Cola news, CEO James Quincey sold 145,435 shares of Coca-Cola stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $71.01, for a total value of $10,327,339.35. Following the completion of the sale, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at approximately $24,324,191.46. The trade was a 29.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Lisa Chang sold 13,445 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $71.50, for a total transaction of $961,317.50. Following the transaction, the executive vice president now directly owns 94,676 shares in the company, valued at $6,769,334. This trade represents a 12.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 313,423 shares of company stock worth $22,263,071 in the last quarter. 0.97% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. UBS Group upped their price objective 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. Evercore ISI increased their price target on Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Barclays boosted their price objective on Coca-Cola from $66.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Piper Sandler increased their target price on Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Finally, Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and boosted their price target for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus 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.