Cache Advisors LLC Acquires New Position in The Coca-Cola Company (NYSE:KO)

Cache Advisors LLC acquired 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 disclosure with the SEC. The firm acquired 5,313 shares of the company's stock, valued at approximately $331,000.

Several other large investors have also recently made changes to their positions in KO. Norges Bank acquired a new stake in shares of Coca-Cola in the fourth quarter valued at about $3,402,151,000. Capital International Investors lifted its stake in Coca-Cola by 96.0% in the 4th quarter. Capital International Investors now owns 24,949,194 shares of the company's stock valued at $1,553,337,000 after buying an additional 12,222,885 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings 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 worth $4,617,400,000 after buying an additional 11,569,920 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Coca-Cola in the 4th quarter worth about $500,192,000. Finally, Franklin Resources Inc. increased its stake in Coca-Cola by 21.9% during the 4th quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company's stock worth $2,123,301,000 after buying an additional 6,118,819 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Coca-Cola

In related news, COO Henrique Braun sold 25,277 shares of Coca-Cola stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $71.47, for a total value of $1,806,547.19. Following the completion of the sale, the chief operating officer now owns 52,466 shares in the company, valued at approximately $3,749,745.02. This trade represents a 32.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nikolaos Koumettis sold 55,500 shares of the company's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $71.01, for a total value of $3,941,055.00. Following the transaction, the insider now owns 246,909 shares in the company, valued at $17,533,008.09. This trade represents a 18.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 229,761 shares of company stock worth $16,474,587. Company insiders own 0.97% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on KO. Evercore ISI raised their target price on Coca-Cola from $72.00 to $75.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. raised their price objective on Coca-Cola from $74.00 to $78.00 and gave the company an "overweight" rating in a report on Monday, April 21st. Cfra Research raised shares of Coca-Cola to a "strong-buy" rating in a research note on Tuesday, April 15th. 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. Finally, Jefferies Financial Group raised shares of Coca-Cola from a "hold" rating to a "buy" rating and raised their price target for the stock from $69.00 to $75.00 in a research note on Thursday, January 30th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Coca-Cola currently has a consensus rating of "Buy" and an average target price of $75.81.

Coca-Cola Trading Down 0.5%

Shares of Coca-Cola stock traded down $0.34 during mid-day trading on Wednesday, hitting $71.44. The stock had a trading volume of 3,495,314 shares, compared to its average volume of 17,624,813. The firm has a market cap of $307.48 billion, a P/E ratio of 28.92, a price-to-earnings-growth ratio of 3.79 and a beta of 0.47. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The firm has a 50-day moving average of $71.18 and a two-hundred day moving average of $67.11. The Coca-Cola Company has a 12-month low of $60.62 and a 12-month high of $74.38.

Coca-Cola (NYSE:KO - Get Free Report) last issued 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 company had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.23 billion. During the same period in the prior year, the business posted $0.72 earnings per share. The firm's revenue for the quarter was down .7% compared to the same quarter last year. Sell-side analysts forecast that The Coca-Cola Company will post 2.96 earnings per share 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 given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date is Friday, June 13th. Coca-Cola's payout ratio is 81.60%.

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.