Zions Bancorporation N.A. Has $5.12 Million Holdings in The Coca-Cola Company (NYSE:KO)

Zions Bancorporation N.A. raised its stake in The Coca-Cola Company (NYSE:KO) by 34.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 82,242 shares of the company’s stock after purchasing an additional 20,893 shares during the quarter. Zions Bancorporation N.A.’s holdings in Coca-Cola were worth $5,120,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of KO. Crowley Wealth Management Inc. bought a new stake in Coca-Cola in the 4th quarter worth about $27,000. Mainstream Capital Management LLC bought a new position in shares of Coca-Cola in the fourth quarter valued at approximately $31,000. Retirement Wealth Solutions LLC bought a new position in shares of Coca-Cola in the fourth quarter valued at approximately $37,000. MilWealth Group LLC purchased a new stake in shares of Coca-Cola during the fourth quarter valued at approximately $40,000. Finally, Sugar Maple Asset Management LLC purchased a new position in Coca-Cola in the fourth quarter worth $43,000. Institutional investors own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Jefferies Financial Group upgraded Coca-Cola from a “hold” rating to a “buy” rating and lifted their target price for the stock from $69.00 to $75.00 in a research note on Thursday, January 30th. Wells Fargo & Company lifted their price objective on shares of Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Morgan Stanley increased their target price on shares of Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Wednesday, January 8th. Finally, UBS Group increased their price objective on Coca-Cola from $72.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.24.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, insider Nikolaos Koumettis sold 54,708 shares of Coca-Cola stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $70.96, for a total transaction of $3,882,079.68. Following the transaction, the insider now directly owns 246,909 shares of the company’s stock, valued at approximately $17,520,662.64. This trade represents a 18.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Bruno Pietracci sold 19,058 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $70.56, for a total transaction of $1,344,732.48. The disclosure for this sale can be found here. Insiders have sold 313,423 shares of company stock worth $22,263,071 over the last 90 days. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

Coca-Cola stock opened at $68.97 on Tuesday. The Coca-Cola Company has a 1-year low of $57.93 and a 1-year high of $73.53. 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 firm has a market capitalization of $296.81 billion, a PE ratio of 27.92, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57. The firm’s 50 day simple moving average is $67.15 and its 200 day simple moving average is $66.42.

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, analysts expect that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a $0.51 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a yield of 2.96%. Coca-Cola’s payout ratio is 82.59%.

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.