Webster Bank N. A. Has $1.63 Million Holdings in The Coca-Cola Company (NYSE:KO)

Webster Bank N. A. decreased its holdings in shares of The Coca-Cola Company (NYSE:KO – Get Rating) by 0.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,294 shares of the company’s stock after selling 170 shares during the quarter. Webster Bank N. A.’s holdings in Coca-Cola were worth $1,630,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Mystic Asset Management Inc. bought a new stake in Coca-Cola during the 4th quarter worth $444,000. TRH Financial LLC grew its holdings in shares of Coca-Cola by 11.7% during the first quarter. TRH Financial LLC now owns 143,657 shares of the company’s stock worth $8,907,000 after purchasing an additional 15,091 shares during the last quarter. Cornerstone Advisory LLC increased its stake in shares of Coca-Cola by 51.3% in the fourth quarter. Cornerstone Advisory LLC now owns 7,759 shares of the company’s stock valued at $460,000 after buying an additional 2,630 shares during the period. Steigerwald Gordon & Koch Inc. increased its stake in shares of Coca-Cola by 2.0% in the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 189,267 shares of the company’s stock valued at $11,207,000 after buying an additional 3,775 shares during the period. Finally, Hayek Kallen Investment Management raised its holdings in Coca-Cola by 7.4% in the 4th quarter. Hayek Kallen Investment Management now owns 80,230 shares of the company’s stock valued at $4,750,000 after buying an additional 5,541 shares during the last quarter. 68.51% of the stock is owned by hedge funds and other institutional investors.

Several analysts recently weighed in on KO shares. Barclays set a $74.00 price objective on shares of Coca-Cola in a research note on Wednesday, April 27th. Citigroup upped their price target on Coca-Cola from $65.00 to $68.00 and gave the company a “neutral” rating in a research report on Tuesday, April 26th. Guggenheim lifted their price objective on Coca-Cola from $68.00 to $71.00 and gave the stock a “buy” rating in a research note on Tuesday, April 26th. DZ Bank downgraded shares of Coca-Cola from a “buy” rating to a “hold” rating and set a $69.00 target price for the company. in a research report on Thursday, April 28th. Finally, Credit Suisse Group set a $68.00 price target on shares of Coca-Cola in a research report on Friday, May 13th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $68.05.

In related news, SVP Beatriz R. Perez sold 143,924 shares of Coca-Cola stock in a transaction that occurred on Thursday, May 5th. The stock was sold at an average price of $64.78, for a total transaction of $9,323,396.72. Following the transaction, the senior vice president now owns 121,178 shares of the company’s stock, valued at $7,849,910.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Brian John Smith sold 35,800 shares of the stock in a transaction on Monday, April 25th. The shares were sold at an average price of $67.04, for a total value of $2,400,032.00. Following the completion of the sale, the chief operating officer now directly owns 116,168 shares of the company’s stock, valued at $7,787,902.72. The disclosure for this sale can be found here. Insiders have sold a total of 412,161 shares of company stock valued at $26,786,278 in the last quarter. Company insiders own 0.98% of the company’s stock.

Shares of KO opened at $61.15 on Thursday. The Coca-Cola Company has a one year low of $52.28 and a one year high of $67.20. The company has a market cap of $265.09 billion, a PE ratio of 25.69, a P/E/G ratio of 3.52 and a beta of 0.58. The stock has a 50-day moving average of $63.44 and a 200-day moving average of $61.45. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.18 and a quick ratio of 0.98.

Coca-Cola (NYSE:KO – Get Rating) last announced its quarterly earnings data on Monday, April 25th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.06. Coca-Cola had a return on equity of 41.84% and a net margin of 25.69%. The firm had revenue of $10.50 billion during the quarter, compared to analysts’ expectations of $9.83 billion. During the same quarter last year, the firm posted $0.55 earnings per share. The company’s revenue for the quarter was up 16.7% compared to the same quarter last year. Analysts expect that The Coca-Cola Company will post 2.47 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Wednesday, June 15th will be given a $0.44 dividend. The ex-dividend date is Tuesday, June 14th. This represents a $1.76 annualized dividend and a yield of 2.88%. Coca-Cola’s payout ratio is 73.95%.

Coca-Cola Profile (Get Rating)

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; flavored and enhanced water, and sports drinks; juice, dairy, and plant-based beverages; tea and coffee; and energy drinks. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

See Also