Cypress Asset Management Inc. TX Takes $1.63 Million Position in The Coca-Cola Company (NYSE:KO)

Cypress Asset Management Inc. TX acquired 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 and Exchange Commission. The institutional investor acquired 25,345 shares of the company's stock, valued at approximately $1,630,000.

Several other large investors have also recently modified their holdings of KO. Norges Bank bought a new position in Coca-Cola during the 4th quarter valued at about $3,402,151,000. Capital International Investors raised its stake in Coca-Cola by 96.0% during the fourth 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. Charles Schwab Investment Management Inc. increased its position in shares of Coca-Cola by 18.5% during 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 purchasing an additional 11,569,920 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Coca-Cola in the fourth quarter worth about $500,192,000. Finally, Franklin Resources Inc. boosted its stake 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 purchasing an additional 6,118,819 shares during the period. Hedge funds and other institutional investors own 70.26% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. UBS Group upped their target price on Coca-Cola from $84.00 to $86.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Evercore ISI raised their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. Barclays reissued an "overweight" rating on shares of Coca-Cola in a report on Thursday, March 27th. Piper Sandler boosted their target price on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. Finally, Cfra Research raised shares of Coca-Cola to a "strong-buy" rating in a research note on Tuesday, April 15th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $75.81.

Coca-Cola Stock Performance

KO stock traded up $0.16 during mid-day trading on Thursday, reaching $71.31. The company had a trading volume of 4,805,211 shares, compared to its average volume of 15,653,945. The stock has a market capitalization of $306.92 billion, a P/E ratio of 28.86, a P/E/G ratio of 3.79 and a beta of 0.47. The stock's 50-day simple moving average is $71.23 and its two-hundred day simple moving average is $67.14. The Coca-Cola Company has a one year low of $60.62 and a one year high of $74.38. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61.

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 (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.02. The business had revenue of $11.13 billion during the quarter, compared to analysts' expectations of $11.23 billion. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The business's revenue was down .7% on a year-over-year basis. During the same period last year, the firm posted $0.72 earnings per share. Research analysts anticipate that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.86%. The ex-dividend date is Friday, June 13th. Coca-Cola's dividend payout ratio is currently 81.60%.

Insider Transactions at Coca-Cola

In other news, CFO John Murphy sold 88,658 shares of the business's stock in a transaction dated 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 transaction, the chief financial officer now owns 205,511 shares in the company, valued at approximately $14,815,287.99. The trade was a 30.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Nikolaos Koumettis sold 55,500 shares of the company's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $71.01, for a total value of $3,941,055.00. Following the completion of the transaction, the insider now owns 246,909 shares of the company's stock, valued at $17,533,008.09. The trade was a 18.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 229,761 shares of company stock valued at $16,474,587 over the last three months. 0.97% 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.