Dupont Capital Management Corp Raises Stake in CocaCola Company (The) (NYSE:KO)

Dupont Capital Management Corp increased its stake in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 20.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 248,559 shares of the company's stock after buying an additional 42,004 shares during the period. CocaCola comprises about 2.0% of Dupont Capital Management Corp's holdings, making the stock its 12th biggest position. Dupont Capital Management Corp's holdings in CocaCola were worth $17,802,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Norges Bank bought a new stake in CocaCola in the 4th quarter valued at about $3,402,151,000. Capital International Investors boosted its position in CocaCola by 96.0% during the fourth quarter. Capital International Investors now owns 24,949,194 shares of the company's stock worth $1,553,337,000 after purchasing an additional 12,222,885 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of CocaCola by 18.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company's stock worth $4,617,400,000 after purchasing an additional 11,569,920 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of CocaCola in the fourth quarter valued at approximately $500,192,000. Finally, Franklin Resources Inc. lifted its stake in shares of CocaCola 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 buying an additional 6,118,819 shares in the last quarter. Institutional investors own 70.26% of the company's stock.

Insider Activity at CocaCola

In other news, EVP Beatriz R. Perez sold 60,326 shares of the firm's stock in a transaction that occurred 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 transaction, the executive vice president now owns 187,716 shares in the company, valued at approximately $13,491,148.92. This trade represents a 24.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO John Murphy sold 88,658 shares of the company'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 owns 205,511 shares of the company's stock, valued at $14,815,287.99. This represents a 30.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 415,387 shares of company stock valued at $29,923,985. Insiders own 0.97% of the company's stock.

Wall Street Analyst Weigh In

KO has been the subject of a number of recent research reports. UBS Group lifted their price objective on shares of CocaCola from $84.00 to $86.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Royal Bank Of Canada lifted their price target on CocaCola from $73.00 to $76.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Cfra Research raised CocaCola to a "strong-buy" rating in a report on Tuesday, April 15th. Morgan Stanley restated an "overweight" rating and issued a $81.00 target price on shares of CocaCola in a research note on Monday, June 9th. Finally, Piper Sandler upped their price target on CocaCola from $73.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, February 28th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, CocaCola currently has an average rating of "Buy" and an average target price of $76.00.

CocaCola Stock Down 0.5%

KO opened at $68.84 on Friday. The company has a quick ratio of 0.89, a current ratio of 1.10 and a debt-to-equity ratio of 1.57. The business's fifty day simple moving average is $71.50 and its 200 day simple moving average is $68.03. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The stock has a market cap of $296.32 billion, a PE ratio of 27.54, a P/E/G ratio of 3.63 and a beta of 0.46.

CocaCola (NYSE:KO - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.71 by $0.02. The firm had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.23 billion. CocaCola had a return on equity of 45.49% and a net margin of 23.00%. The company's revenue was down .7% on a year-over-year basis. During the same period in the prior year, the company earned $0.72 EPS. As a group, research analysts expect that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a $0.51 dividend. The ex-dividend date is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.96%. CocaCola's dividend payout ratio (DPR) is 81.60%.

About CocaCola

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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