Bearing Point Capital LLC purchased a new stake in The Coca-Cola Company (NYSE:KO - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 18,125 shares of the company's stock, valued at approximately $1,128,000.
Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of Coca-Cola in the 4th quarter valued at about $3,402,151,000. Capital International Investors grew its stake in Coca-Cola by 96.0% in the fourth quarter. Capital International Investors now owns 24,949,194 shares of the company's stock valued at $1,553,337,000 after acquiring an additional 12,222,885 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Coca-Cola by 18.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company's stock worth $4,617,400,000 after buying an additional 11,569,920 shares during the last quarter. Raymond James Financial Inc. bought a new position in Coca-Cola in the 4th quarter valued at about $500,192,000. Finally, Franklin Resources Inc. lifted its holdings in shares of Coca-Cola by 21.9% in the fourth quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company's stock valued at $2,123,301,000 after purchasing an additional 6,118,819 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on the stock. Royal Bank of Canada lifted their price objective on shares of Coca-Cola from $73.00 to $76.00 and gave the stock an "outperform" rating in a report on Wednesday. TD Cowen raised shares of Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price objective for the company in a research report on Wednesday, January 8th. Morgan Stanley lifted their target price on shares of Coca-Cola from $76.00 to $78.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Piper Sandler raised 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, DZ Bank upgraded shares of Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 target price on the stock in a research note on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $75.59.
Read Our Latest Research Report on Coca-Cola
Insiders Place Their Bets
In other news, COO Henrique Braun sold 25,277 shares of the company's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $71.47, for a total value of $1,806,547.19. Following the completion of the transaction, the chief operating officer now directly owns 52,466 shares in the company, valued at approximately $3,749,745.02. This represents a 32.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Lisa Chang sold 13,445 shares of the firm's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $71.50, for a total value of $961,317.50. Following the transaction, the executive vice president now directly owns 94,676 shares in the company, valued at approximately $6,769,334. This represents a 12.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 313,423 shares of company stock valued at $22,263,071 in the last quarter. Corporate insiders own 0.97% of the company's stock.
Coca-Cola Stock Performance
Coca-Cola stock opened at $71.69 on Friday. The firm's 50 day simple moving average is $70.90 and its 200 day simple moving average is $66.56. The firm has a market capitalization of $308.52 billion, a PE ratio of 29.02, a price-to-earnings-growth ratio of 3.79 and a beta of 0.45. 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 Coca-Cola Company has a 1-year low of $60.62 and a 1-year high of $74.38.
Coca-Cola (NYSE:KO - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.71 by $0.02. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The business had revenue of $11.13 billion during the quarter, compared to analysts' expectations of $11.23 billion. During the same period in the previous year, the business earned $0.72 earnings per share. The firm's revenue was down .7% on a year-over-year basis. As a group, analysts expect that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.
Coca-Cola Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 annualized dividend and a yield of 2.85%. Coca-Cola's payout ratio is presently 81.60%.
Coca-Cola Profile
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding KO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Coca-Cola Company (NYSE:KO - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Coca-Cola, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Coca-Cola wasn't on the list.
While Coca-Cola currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
