GAMMA Investing LLC Has $426.93 Million Stock Position in The Coca-Cola Company (NYSE:KO)

GAMMA Investing LLC lifted its stake in The Coca-Cola Company (NYSE:KO - Free Report) by 8,419.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,961,004 shares of the company's stock after acquiring an additional 5,891,034 shares during the period. GAMMA Investing LLC owned approximately 0.14% of Coca-Cola worth $426,927,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its stake in shares of 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 valued at $4,617,400,000 after purchasing an additional 11,569,920 shares during the period. Norges Bank bought a new position in shares of Coca-Cola in the 4th quarter valued at about $3,402,151,000. Northern Trust Corp lifted its holdings in Coca-Cola by 9.5% in the fourth quarter. Northern Trust Corp now owns 43,802,296 shares of the company's stock valued at $2,727,131,000 after buying an additional 3,811,756 shares during the period. Franklin Resources Inc. lifted its stake in shares of Coca-Cola by 21.9% in the 4th quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company's stock valued at $2,123,301,000 after purchasing an additional 6,118,819 shares during the period. Finally, Capital International Investors boosted its holdings in Coca-Cola 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 buying an additional 12,222,885 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Coca-Cola news, CFO John Murphy sold 88,658 shares of the firm's stock in a transaction on 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 sale, the chief financial officer now owns 205,511 shares of the company's stock, valued at approximately $14,815,287.99. This trade represents a 30.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Beatriz R. Perez sold 60,326 shares of the business's stock in a transaction on Thursday, May 8th. The stock was 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 directly owns 187,716 shares of the company's stock, valued at $13,491,148.92. This trade represents a 24.32% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 229,761 shares of company stock worth $16,474,587. 0.97% of the stock is currently owned by company insiders.

Coca-Cola Stock Performance

Shares of KO stock traded up $0.64 on Friday, hitting $72.13. The company's stock had a trading volume of 28,013,099 shares, compared to its average volume of 15,748,391. The Coca-Cola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The company has a market capitalization of $310.47 billion, a PE ratio of 29.20, a PEG ratio of 3.79 and a beta of 0.47. The stock's 50 day moving average is $71.35 and its 200-day moving average is $67.29. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03.

Coca-Cola (NYSE:KO - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.23 billion. During the same quarter in the prior year, the business posted $0.72 EPS. The business's revenue was down .7% compared to the same quarter last year. Equities research analysts expect that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders 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 dividend yield of 2.83%. Coca-Cola's payout ratio is 81.60%.

Analyst Ratings Changes

KO has been the topic of a number of recent analyst reports. Morgan Stanley lifted their price target on shares of Coca-Cola from $76.00 to $78.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Wells Fargo & Company upped their price target on Coca-Cola from $70.00 to $75.00 and gave the stock an "overweight" 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. UBS Group boosted their target price on shares of Coca-Cola from $84.00 to $86.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Finally, Piper Sandler upped their price objective on Coca-Cola from $73.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Coca-Cola has an average rating of "Buy" and an average price target of $75.81.

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.