Northstar Financial Companies Inc. Buys New Position in The Coca-Cola Company (NYSE:KO)

Northstar Financial Companies Inc. acquired a new stake in The Coca-Cola Company (NYSE:KO - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 5,299 shares of the company's stock, valued at approximately $330,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Charles Schwab Investment Management Inc. increased its position in Coca-Cola by 18.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company's stock worth $4,617,400,000 after buying an additional 11,569,920 shares during the period. Norges Bank acquired a new position in Coca-Cola during the fourth quarter worth approximately $3,402,151,000. Northern Trust Corp increased its position in Coca-Cola by 9.5% during the fourth quarter. Northern Trust Corp now owns 43,802,296 shares of the company's stock worth $2,727,131,000 after buying an additional 3,811,756 shares during the period. Franklin Resources Inc. increased its holdings in shares of Coca-Cola by 21.9% in the fourth 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 increased its holdings in shares of Coca-Cola by 96.0% in the fourth quarter. Capital International Investors now owns 24,949,194 shares of the company's stock valued at $1,553,337,000 after purchasing an additional 12,222,885 shares during the period. Institutional investors and hedge funds own 70.26% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on KO. Royal Bank of Canada boosted their target price on Coca-Cola from $73.00 to $76.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Piper Sandler boosted their target price on Coca-Cola from $73.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Wells Fargo & Company upped their price objective on Coca-Cola from $70.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Morgan Stanley upped their price objective on Coca-Cola from $76.00 to $78.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Finally, Evercore ISI upped their price objective on Coca-Cola from $72.00 to $75.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Coca-Cola presently has an average rating of "Buy" and a consensus target price of $75.81.

Coca-Cola Price Performance

Shares of KO traded up $0.64 during trading hours on Friday, reaching $72.13. 28,013,099 shares of the company traded hands, compared to its average volume of 15,764,664. The stock has a fifty day simple moving average of $71.35 and a 200 day simple moving average of $67.26. The Coca-Cola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The stock has a market capitalization of $310.47 billion, a PE ratio of 29.20, a price-to-earnings-growth ratio of 3.79 and a beta of 0.47. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61.

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

Coca-Cola Dividend Announcement

The firm also recently announced 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 is Friday, June 13th. This represents a $2.04 annualized dividend and a yield of 2.83%. Coca-Cola's dividend payout ratio (DPR) is presently 81.60%.

Insider Buying and Selling

In other news, COO Henrique Braun sold 25,277 shares of the firm's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $71.47, for a total value of $1,806,547.19. Following the transaction, the chief operating officer now directly owns 52,466 shares in the company, valued at $3,749,745.02. This trade represents a 32.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO John Murphy sold 88,658 shares of the firm'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 completion of the transaction, the chief financial officer now owns 205,511 shares in the company, valued at approximately $14,815,287.99. This trade represents a 30.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 229,761 shares of company stock worth $16,474,587. 0.97% of the stock is owned by company insiders.

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.