Fairtree Asset Management Pty Ltd Makes New $1.92 Million Investment in The Coca-Cola Company (NYSE:KO)

Fairtree Asset Management Pty Ltd acquired a new stake in shares of The Coca-Cola Company (NYSE:KO - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 30,901 shares of the company's stock, valued at approximately $1,924,000. Coca-Cola comprises 1.8% of Fairtree Asset Management Pty Ltd's holdings, making the stock its 12th biggest holding.

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

Insider Activity

In other news, CFO John Murphy sold 88,658 shares of the business's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total value of $6,391,355.22. Following the transaction, the chief financial officer now directly owns 205,511 shares in the company, valued at $14,815,287.99. The trade was a 30.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Nikolaos Koumettis sold 55,500 shares of the business's stock in a transaction dated 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 in the company, 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 have sold 229,761 shares of company stock worth $16,474,587 over the last ninety days. Corporate insiders own 0.97% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on KO. Royal Bank of Canada lifted their target price on Coca-Cola from $73.00 to $76.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. JPMorgan Chase & Co. lifted their target price on Coca-Cola from $74.00 to $78.00 and gave the stock an "overweight" rating in a report on Monday, April 21st. Morgan Stanley lifted their target price on Coca-Cola from $76.00 to $78.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Jefferies Financial Group raised Coca-Cola from a "hold" rating to a "buy" rating and lifted their target price for the stock from $69.00 to $75.00 in a report on Thursday, January 30th. Finally, Cfra Research raised Coca-Cola to a "strong-buy" rating in a report on Tuesday, April 15th. 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 company. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $75.81.

Coca-Cola Stock Performance

NYSE:KO traded up $0.34 during mid-day trading on Thursday, hitting $71.49. 10,290,539 shares of the company traded hands, compared to its average volume of 15,690,326. The stock's fifty day moving average price is $71.23 and its 200-day moving average price 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. The firm has a market cap of $307.69 billion, a price-to-earnings ratio of 28.94, a price-to-earnings-growth ratio of 3.79 and a beta of 0.47.

Coca-Cola (NYSE:KO - Get Free Report) last released its quarterly earnings results 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. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The business had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.23 billion. During the same quarter in the previous year, the company posted $0.72 earnings per share. Coca-Cola's revenue for the quarter was down .7% on a year-over-year basis. Research analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

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 given a $0.51 dividend. The ex-dividend date is Friday, June 13th. This represents a $2.04 annualized dividend and a dividend yield of 2.85%. 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.