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Amiral Gestion Invests $8.73 Million in The Coca-Cola Company (NYSE:KO)

Coca-Cola logo with Consumer Staples background

Amiral Gestion bought a new position in shares of The Coca-Cola Company (NYSE:KO - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 140,158 shares of the company's stock, valued at approximately $8,726,000. Coca-Cola accounts for approximately 5.5% of Amiral Gestion's investment portfolio, making the stock its 6th largest holding.

Other large investors also recently made changes to their positions in the company. Crowley Wealth Management Inc. bought a new position in Coca-Cola during the 4th quarter worth $27,000. Mainstream Capital Management LLC bought a new position in Coca-Cola during the 4th quarter worth $31,000. Murphy & Mullick Capital Management Corp bought a new position in Coca-Cola during the 4th quarter worth $38,000. Hoey Investments Inc. increased its stake in Coca-Cola by 41.9% during the 4th quarter. Hoey Investments Inc. now owns 613 shares of the company's stock worth $38,000 after acquiring an additional 181 shares during the period. Finally, MilWealth Group LLC bought a new position in Coca-Cola during the 4th quarter worth $40,000. Institutional investors own 70.26% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Wells Fargo & Company raised their price objective on Coca-Cola from $70.00 to $75.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. DZ Bank raised Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 target price on the stock in a report on Thursday, February 13th. JPMorgan Chase & Co. raised their target price on Coca-Cola from $74.00 to $78.00 and gave the company an "overweight" rating in a report on Monday, April 21st. Piper Sandler raised their target price on Coca-Cola from $73.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Finally, Royal Bank of Canada raised their target price on Coca-Cola from $73.00 to $76.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $75.81.

Get Our Latest Stock Analysis on KO

Insider Buying and Selling at Coca-Cola

In related news, EVP Beatriz R. Perez sold 60,326 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $71.87, for a total value of $4,335,629.62. Following the transaction, the executive vice president now owns 187,716 shares in the company, valued at approximately $13,491,148.92. This represents a 24.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO John Murphy sold 88,658 shares of the business's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the sale, the chief financial officer now directly owns 205,511 shares in the company, valued at $14,815,287.99. The trade was a 30.14% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 284,469 shares of company stock worth $20,356,667. Insiders own 0.97% of the company's stock.

Coca-Cola Trading Down 0.1%

Shares of KO stock traded down $0.04 during mid-day trading on Tuesday, hitting $71.73. The company's stock had a trading volume of 10,655,618 shares, compared to its average volume of 15,711,109. The company's fifty day simple moving average is $71.14 and its 200-day simple moving average is $67.08. 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 $308.75 billion, a PE ratio of 29.04, a P/E/G ratio of 3.79 and a beta of 0.47.

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, 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 firm had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.23 billion. During the same period last year, the company posted $0.72 EPS. The business's quarterly revenue was down .7% on a year-over-year basis. As a group, equities research analysts expect that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date is Friday, June 13th. Coca-Cola's payout ratio is 81.60%.

Coca-Cola Company 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

Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

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