Aurdan Capital Management LLC Purchases New Shares in The Coca-Cola Company (NYSE:KO)

Aurdan Capital Management LLC bought a new position in The Coca-Cola Company (NYSE:KO - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 71,328 shares of the company's stock, valued at approximately $4,441,000. Coca-Cola comprises about 1.7% of Aurdan Capital Management LLC's holdings, making the stock its 20th largest position.

Other large investors have also recently made changes to their positions in the company. Voleon Capital Management LP bought a new stake in shares of Coca-Cola in the 4th quarter worth about $2,513,000. Rice Partnership LLC grew its holdings in Coca-Cola by 7.1% during the 4th quarter. Rice Partnership LLC now owns 102,746 shares of the company's stock valued at $6,397,000 after purchasing an additional 6,793 shares during the last quarter. Newbridge Financial Services Group Inc. grew its holdings in Coca-Cola by 62.2% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 26,708 shares of the company's stock valued at $1,663,000 after purchasing an additional 10,240 shares during the last quarter. Lockheed Martin Investment Management Co. grew its holdings in Coca-Cola by 16.3% during the 4th quarter. Lockheed Martin Investment Management Co. now owns 218,985 shares of the company's stock valued at $13,634,000 after purchasing an additional 30,650 shares during the last quarter. Finally, abrdn plc grew its holdings in Coca-Cola by 0.3% during the 4th quarter. abrdn plc now owns 7,238,640 shares of the company's stock valued at $447,963,000 after purchasing an additional 22,904 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

KO has been the topic of several analyst reports. Royal Bank of Canada upped their price target on shares of Coca-Cola from $73.00 to $76.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Piper Sandler boosted their price objective on shares of Coca-Cola from $73.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, February 28th. Barclays reissued an "overweight" rating on shares of Coca-Cola in a research report on Thursday, March 27th. Wells Fargo & Company boosted 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, Cfra Research raised shares of Coca-Cola to a "strong-buy" rating in a research report 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, Coca-Cola presently has a consensus rating of "Buy" and a consensus target price of $75.81.

Insider Activity at Coca-Cola

In other news, EVP Beatriz R. Perez sold 60,326 shares of the stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $71.87, for a total value of $4,335,629.62. Following the sale, the executive vice president now owns 187,716 shares in the company, valued at $13,491,148.92. This represents a 24.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO John Murphy sold 88,658 shares of the stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the completion of the sale, the chief financial officer now 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. Insiders sold 229,761 shares of company stock valued at $16,474,587 over the last 90 days. Insiders own 0.97% of the company's stock.

Coca-Cola Stock Down 0.9%

Shares of KO traded down $0.64 during mid-day trading on Wednesday, hitting $71.14. The company's stock had a trading volume of 8,691,162 shares, compared to its average volume of 15,683,190. The company's 50-day moving average is $71.18 and its 200-day moving average is $67.11. The Coca-Cola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The firm has a market capitalization of $306.21 billion, a price-to-earnings ratio of 28.80, a PEG ratio of 3.79 and a beta of 0.47. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61.

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, beating analysts' consensus estimates of $0.71 by $0.02. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The company had revenue of $11.13 billion during the quarter, compared to analysts' expectations of $11.23 billion. During the same quarter in the prior year, the company posted $0.72 earnings per share. Coca-Cola's revenue for the quarter was down .7% compared to the same quarter last year. On average, equities research analysts forecast that The Coca-Cola Company will post 2.96 EPS 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 dividend of $0.51 per share. The ex-dividend date is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a yield of 2.87%. Coca-Cola's payout ratio is 81.60%.

Coca-Cola Profile

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.