232,831 Shares in The Coca-Cola Company (NYSE:KO) Purchased by Woodline Partners LP

Woodline Partners LP acquired a new position in The Coca-Cola Company (NYSE:KO - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 232,831 shares of the company's stock, valued at approximately $14,496,000.

A number of other large investors have also modified their holdings of KO. Charles Schwab Investment Management Inc. grew its position in Coca-Cola by 18.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company's stock valued at $4,617,400,000 after buying an additional 11,569,920 shares in the last quarter. Norges Bank bought a new position in Coca-Cola in the 4th quarter valued at about $3,402,151,000. Northern Trust Corp grew its position in Coca-Cola by 9.5% in the 4th quarter. Northern Trust Corp now owns 43,802,296 shares of the company's stock valued at $2,727,131,000 after buying an additional 3,811,756 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Coca-Cola by 21.9% during the 4th 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. Finally, Capital International Investors boosted its position in shares of Coca-Cola by 96.0% during the 4th quarter. Capital International Investors now owns 24,949,194 shares of the company's stock valued at $1,553,337,000 after purchasing an additional 12,222,885 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on KO shares. Royal Bank of Canada raised their price objective on shares of Coca-Cola from $73.00 to $76.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. DZ Bank upgraded 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 Thursday, February 13th. Morgan Stanley raised their price objective 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. Wells Fargo & Company raised their price objective on shares of Coca-Cola from $70.00 to $75.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Finally, Evercore ISI raised their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Coca-Cola presently has an average rating of "Buy" and an average price target of $75.59.

Coca-Cola Price Performance

NYSE KO opened at $71.84 on Thursday. The company has a 50 day simple moving average of $71.02 and a 200-day simple moving average of $66.89. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. The firm has a market capitalization of $309.23 billion, a price-to-earnings ratio of 29.09, a price-to-earnings-growth ratio of 3.79 and a beta of 0.47. The Coca-Cola Company has a 52-week low of $60.62 and a 52-week high of $74.38.

Coca-Cola (NYSE:KO - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.71 by $0.02. The business had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.23 billion. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The firm's revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.72 earnings per share. Equities research analysts predict that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders 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 dividend yield of 2.84%. The ex-dividend date is Friday, June 13th. Coca-Cola's dividend payout ratio (DPR) is 81.60%.

Insider Transactions at Coca-Cola

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 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lisa Chang sold 13,445 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $71.50, for a total transaction 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. The trade was a 12.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold 462,407 shares of company stock valued at $32,990,056 over the last three months. 0.90% of the stock is owned by corporate insiders.

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.

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