Tang Capital Management LLC Has $1.23 Million Holdings in The Coca-Cola Company (NYSE:KO)

Tang Capital Management LLC grew its stake in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 59.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,714 shares of the company's stock after purchasing an additional 7,341 shares during the quarter. Tang Capital Management LLC's holdings in Coca-Cola were worth $1,227,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake in Coca-Cola by 18.5% in 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 acquiring an additional 11,569,920 shares during the period. Norges Bank purchased a new stake in shares of Coca-Cola during the fourth quarter valued at about $3,402,151,000. Northern Trust Corp lifted its position in shares of Coca-Cola by 9.5% during 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 last quarter. Franklin Resources Inc. lifted its position in shares of Coca-Cola by 21.9% during the fourth quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company's stock valued at $2,123,301,000 after buying an additional 6,118,819 shares during the last quarter. Finally, Capital International Investors lifted its position in shares of Coca-Cola by 96.0% during the fourth quarter. Capital International Investors now owns 24,949,194 shares of the company's stock valued at $1,553,337,000 after buying an additional 12,222,885 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on KO. Evercore ISI increased their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Royal Bank of Canada increased their price objective on shares of Coca-Cola from $73.00 to $76.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Jefferies Financial Group raised shares of Coca-Cola from a "hold" rating to a "buy" rating and increased their price objective for the company from $69.00 to $75.00 in a research report on Thursday, January 30th. DZ Bank raised shares of Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price target for the company in a research report on Thursday, February 13th. Finally, UBS Group raised their price objective on shares of Coca-Cola from $84.00 to $86.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Coca-Cola has a consensus rating of "Buy" and an average price target of $75.59.

Coca-Cola Price Performance

NYSE:KO traded down $0.24 during trading hours on Tuesday, hitting $71.69. The company's stock had a trading volume of 12,135,976 shares, compared to its average volume of 15,662,714. The business's 50-day moving average is $70.92 and its two-hundred day moving average is $66.83. The company has a market capitalization of $308.57 billion, a PE ratio of 29.02, a PEG ratio of 3.79 and a beta of 0.47. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. 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 results on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, beating 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 last year, the business posted $0.72 earnings per share. The business's revenue for the quarter was down .7% on a year-over-year basis. As a group, research analysts anticipate that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a $0.51 dividend. 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%.

Insider Buying and Selling

In other Coca-Cola news, 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 transaction of $4,335,629.62. Following the completion of the transaction, the executive vice president now owns 187,716 shares in the company, valued at approximately $13,491,148.92. The trade was a 24.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Nikolaos Koumettis sold 54,708 shares of the company's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $70.96, for a total value of $3,882,079.68. Following the sale, the insider now directly owns 246,909 shares of the company's stock, valued at approximately $17,520,662.64. This represents a 18.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 462,407 shares of company stock valued at $32,990,056. Company insiders own 0.97% of the company's stock.

Coca-Cola Company 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.