QRG Capital Management Inc. Buys 20,368 Shares of The Coca-Cola Company (NYSE:KO)

QRG Capital Management Inc. boosted its stake in The Coca-Cola Company (NYSE:KO - Free Report) by 5.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 390,173 shares of the company's stock after buying an additional 20,368 shares during the period. QRG Capital Management Inc.'s holdings in Coca-Cola were worth $27,944,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Tallon Kerry Patrick purchased a new stake in shares of Coca-Cola in the 4th quarter worth approximately $241,000. Brighton Jones LLC grew its stake in shares of Coca-Cola by 13.3% in the fourth quarter. Brighton Jones LLC now owns 39,072 shares of the company's stock worth $2,433,000 after acquiring an additional 4,591 shares during the last quarter. Union Bancaire Privee UBP SA bought a new position in shares of Coca-Cola during the fourth quarter valued at $24,472,000. Revolve Wealth Partners LLC raised its position in shares of Coca-Cola by 3.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company's stock worth $548,000 after purchasing an additional 293 shares during the last quarter. Finally, Bank Pictet & Cie Europe AG boosted its stake in Coca-Cola by 12.2% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 19,102 shares of the company's stock worth $1,189,000 after purchasing an additional 2,072 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Coca-Cola news, CEO James Quincey sold 266,403 shares of the business's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $72.06, for a total value of $19,197,000.18. Following the sale, the chief executive officer now owns 275,946 shares in the company, valued at $19,884,668.76. The trade was a 49.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO John Murphy sold 88,658 shares of Coca-Cola stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 205,511 shares of the company's stock, valued at $14,815,287.99. The trade was a 30.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 415,387 shares of company stock worth $29,923,985 over the last three months. 0.97% of the stock is currently owned by company insiders.

Coca-Cola Stock Performance

Shares of NYSE:KO traded down $0.51 during midday trading on Monday, hitting $70.51. The company had a trading volume of 15,038,003 shares, compared to its average volume of 15,881,264. The Coca-Cola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The company has a fifty day moving average of $71.56 and a two-hundred day moving average of $67.89. The company has a market cap of $303.50 billion, a price-to-earnings ratio of 28.55, a PEG ratio of 3.79 and a beta of 0.46. 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 results on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $11.23 billion. During the same quarter in the prior year, the business posted $0.72 earnings per share. The business's quarterly revenue was down .7% on a year-over-year basis. On average, equities research analysts expect that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a $0.51 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.89%. Coca-Cola's payout ratio is currently 81.60%.

Analysts Set New Price Targets

A number of analysts have weighed in on KO shares. Royal Bank of Canada raised their price objective on shares of Coca-Cola from $73.00 to $76.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. UBS Group boosted their price objective 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. Piper Sandler increased their target price on Coca-Cola from $73.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. Cfra Research upgraded Coca-Cola to a "strong-buy" rating in a research note on Tuesday, April 15th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $81.00 price objective on shares of Coca-Cola in a research report on Monday, June 9th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola currently has an average rating of "Buy" and a consensus price target of $76.00.

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.