Capital Advantage Inc. purchased a new position in The Coca-Cola Company (NYSE:KO - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 8,517 shares of the company's stock, valued at approximately $530,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of KO. Charles Schwab Investment Management Inc. boosted its stake in Coca-Cola by 18.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company's stock valued at $4,617,400,000 after acquiring an additional 11,569,920 shares during the period. Norges Bank bought a new position in Coca-Cola during the 4th quarter worth $3,402,151,000. Northern Trust Corp increased its position in Coca-Cola by 9.5% in the fourth quarter. Northern Trust Corp now owns 43,802,296 shares of the company's stock worth $2,727,131,000 after buying an additional 3,811,756 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Coca-Cola by 21.9% during the fourth quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company's stock valued at $2,123,301,000 after acquiring an additional 6,118,819 shares during the period. Finally, Capital International Investors increased its holdings in shares of Coca-Cola by 96.0% in the 4th quarter. Capital International Investors now owns 24,949,194 shares of the company's stock worth $1,553,337,000 after acquiring an additional 12,222,885 shares during the period. 70.26% of the stock is owned by institutional investors.
Coca-Cola Trading Up 0.1 %
Shares of NYSE:KO opened at $71.71 on Tuesday. The Coca-Cola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The company has a market cap of $308.61 billion, a P/E ratio of 29.03, a P/E/G ratio of 3.79 and a beta of 0.47. The stock's 50-day moving average is $70.92 and its 200-day moving average is $66.55.
Coca-Cola (NYSE:KO - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, beating 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 company had revenue of $11.13 billion during the quarter, compared to analysts' expectations of $11.23 billion. During the same period in the prior year, the business earned $0.72 earnings per share. Coca-Cola's revenue for the quarter was down .7% compared to the same quarter last year. Equities research analysts predict that The Coca-Cola Company will post 2.96 earnings per share for the current year.
Coca-Cola Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a $0.51 dividend. The ex-dividend date is Friday, June 13th. This represents a $2.04 annualized dividend and a yield of 2.84%. Coca-Cola's dividend payout ratio (DPR) is 81.60%.
Wall Street Analyst Weigh In
KO has been the subject of several recent analyst reports. DZ Bank upgraded shares of Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 target price for the company in a research report on Thursday, February 13th. Piper Sandler upped their target price on Coca-Cola from $73.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. Evercore ISI lifted their target price on Coca-Cola from $72.00 to $75.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. UBS Group raised their target price on shares of Coca-Cola from $84.00 to $86.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. boosted their target price on Coca-Cola from $74.00 to $78.00 and gave the stock an "overweight" rating in a research report on Monday, April 21st. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $75.59.
View Our Latest Research Report on KO
Insider Activity
In related news, insider Nikolaos Koumettis sold 54,708 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $70.96, for a total transaction of $3,882,079.68. Following the completion of the transaction, the insider now owns 246,909 shares in the company, valued at $17,520,662.64. This trade represents a 18.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James Quincey sold 145,435 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total value of $10,327,339.35. Following the transaction, the chief executive officer now owns 342,546 shares of the company's stock, valued at $24,324,191.46. This represents a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 313,423 shares of company stock worth $22,263,071. Company insiders own 0.97% of the company's stock.
About Coca-Cola
(
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.
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