Fjarde AP Fonden Fourth Swedish National Pension Fund Has $71.90 Million Stock Position in CocaCola Company (The) (NYSE:KO)

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its stake in Coca-Cola by 18.1%, holding approximately 1 million shares valued at $71.90 million.
• Coca-Cola recently announced a quarterly dividend of $0.51, with a dividend yield of 2.9% and a payout ratio of 72.34%.
• Coca-Cola's stock has a current price target consensus of $77.21, with multiple analysts maintaining a "buy" or "outperform" rating.

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its position in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 18.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,003,906 shares of the company's stock after selling 222,200 shares during the quarter. CocaCola comprises about 0.9% of Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings, making the stock its 21st largest position. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in CocaCola were worth $71,900,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. MorganRosel Wealth Management LLC acquired a new stake in shares of CocaCola during the first quarter worth $25,000. Garde Capital Inc. bought a new position in CocaCola during the first quarter worth $30,000. Mizuho Securities Co. Ltd. boosted its stake in CocaCola by 360.0% during the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock worth $33,000 after acquiring an additional 360 shares in the last quarter. Ridgewood Investments LLC boosted its stake in CocaCola by 148.4% during the first quarter. Ridgewood Investments LLC now owns 477 shares of the company's stock worth $34,000 after acquiring an additional 285 shares in the last quarter. Finally, Moser Wealth Advisors LLC boosted its stake in CocaCola by 449.5% during the first quarter. Moser Wealth Advisors LLC now owns 500 shares of the company's stock worth $36,000 after acquiring an additional 409 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

CocaCola Stock Performance

NYSE KO opened at $70.46 on Thursday. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The company has a 50-day simple moving average of $70.08 and a 200 day simple moving average of $70.02. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.98 and a current ratio of 1.21. The company has a market capitalization of $303.24 billion, a PE ratio of 24.99, a price-to-earnings-growth ratio of 3.68 and a beta of 0.44.

CocaCola (NYSE:KO - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.04. The firm had revenue of $12.50 billion during the quarter, compared to the consensus estimate of $12.55 billion. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The company's revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the company earned $0.84 earnings per share. On average, research analysts predict that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be paid a $0.51 dividend. The ex-dividend date is Monday, September 15th. This represents a $2.04 annualized dividend and a dividend yield of 2.9%. CocaCola's dividend payout ratio (DPR) is presently 72.34%.

Insider Activity

In other news, insider Nikolaos Koumettis sold 37,396 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total value of $2,584,063.60. Following the completion of the transaction, the insider directly owned 209,513 shares in the company, valued at approximately $14,477,348.30. This trade represents a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James Quincey sold 266,403 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the completion of the transaction, the chief executive officer owned 275,946 shares of the company's stock, valued at $19,884,668.76. This trade represents a 49.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.97% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on KO. UBS Group cut their target price on shares of CocaCola from $86.00 to $84.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. BNP Paribas reissued an "outperform" rating and set a $83.00 target price on shares of CocaCola in a research note on Monday, July 21st. Morgan Stanley reaffirmed an "overweight" rating and issued a $81.00 price objective on shares of CocaCola in a research note on Monday, June 9th. JPMorgan Chase & Co. raised their price objective on shares of CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Finally, Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the company an "outperform" rating in a research note on Monday, July 21st. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $77.21.

CocaCola 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.

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