M1 Capital Management LLC Takes $223,000 Position in The Coca-Cola Company (NYSE:KO)

M1 Capital Management LLC bought a new stake in The Coca-Cola Company (NYSE:KO - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,587 shares of the company's stock, valued at approximately $223,000.

Other hedge funds have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its holdings in Coca-Cola by 18.5% during the 4th 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. Norges Bank purchased a new stake in Coca-Cola during the 4th quarter worth about $3,402,151,000. Northern Trust Corp lifted its holdings in Coca-Cola by 9.5% during the 4th quarter. Northern Trust Corp now owns 43,802,296 shares of the company's stock worth $2,727,131,000 after purchasing an additional 3,811,756 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Coca-Cola by 21.9% during the 4th quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company's stock worth $2,123,301,000 after purchasing an additional 6,118,819 shares in the last quarter. Finally, Capital International Investors lifted its holdings in Coca-Cola by 96.0% during the 4th 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 in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Beatriz R. Perez sold 60,326 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the transaction, the executive vice president now directly owns 187,716 shares in the company, valued at $13,491,148.92. This trade represents a 24.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nikolaos Koumettis sold 55,500 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $71.01, for a total value of $3,941,055.00. Following the transaction, the insider now owns 246,909 shares in the company, valued at approximately $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 a total of 229,761 shares of company stock worth $16,474,587 in the last ninety days. 0.97% of the stock is owned by insiders.

Coca-Cola Price Performance

Shares of Coca-Cola stock traded up $0.34 during trading on Thursday, hitting $71.49. 10,290,539 shares of the stock traded hands, compared to its average volume of 15,690,326. 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 stock has a market cap of $307.69 billion, a price-to-earnings ratio of 28.94, a PEG ratio of 3.79 and a beta of 0.47. The firm's fifty day moving average is $71.23 and its 200-day moving average is $67.14. The Coca-Cola Company has a 52 week low of $60.62 and a 52 week high of $74.38.

Coca-Cola (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. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The firm had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.23 billion. During the same period in the prior year, the company earned $0.72 EPS. The company's revenue was down .7% on a year-over-year basis. Research analysts expect that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 annualized dividend and a yield of 2.85%. Coca-Cola's payout ratio is 81.60%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on KO shares. JPMorgan Chase & Co. upped their target price on Coca-Cola from $74.00 to $78.00 and gave the stock an "overweight" rating in a research note on Monday, April 21st. Evercore ISI upped their target price on Coca-Cola from $72.00 to $75.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. Wells Fargo & Company upped their target price on Coca-Cola from $70.00 to $75.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. Jefferies Financial Group upgraded Coca-Cola from a "hold" rating to a "buy" rating and upped their target price for the stock from $69.00 to $75.00 in a research note on Thursday, January 30th. Finally, DZ Bank upgraded Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 target price on the stock in a research note on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and a consensus 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.