GF Fund Management CO. LTD. Makes New $8.77 Million Investment in The Coca-Cola Company (NYSE:KO)

GF Fund Management CO. LTD. acquired a new stake in The Coca-Cola Company (NYSE:KO - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 140,835 shares of the company's stock, valued at approximately $8,768,000.

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

Coca-Cola Trading Down 0.5%

KO 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 stock's fifty day simple moving average is $71.18 and its 200-day simple moving average is $67.11. The firm has a market capitalization of $307.48 billion, a price-to-earnings ratio of 28.92, a price-to-earnings-growth ratio of 3.79 and a beta of 0.47. The Coca-Cola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84.

Coca-Cola (NYSE:KO - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 EPS 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 business had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.23 billion. During the same quarter last year, the business posted $0.72 EPS. The firm's revenue was down .7% compared to the same quarter last year. As a group, research analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola 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 issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.86%. The ex-dividend date is Friday, June 13th. Coca-Cola's dividend payout ratio (DPR) is presently 81.60%.

Insider Buying and Selling

In other Coca-Cola news, EVP Beatriz R. Perez sold 60,326 shares of Coca-Cola stock in a transaction dated 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 sale, the executive vice president now 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO John Murphy sold 88,658 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the transaction, the chief financial officer now directly 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 three months, insiders sold 229,761 shares of company stock valued at $16,474,587. 0.97% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on KO shares. Jefferies Financial Group upgraded Coca-Cola from a "hold" rating to a "buy" rating and increased their target price for the stock from $69.00 to $75.00 in a report on Thursday, January 30th. Piper Sandler raised their price objective on shares of Coca-Cola from $73.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, February 28th. Evercore ISI upped their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. UBS Group increased their price target on shares of Coca-Cola from $84.00 to $86.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Finally, Wells Fargo & Company boosted their target price on Coca-Cola from $70.00 to $75.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Coca-Cola presently has a consensus rating of "Buy" and an average price target of $75.81.

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.