Tidal Investments LLC Acquires 45,372 Shares of The Coca-Cola Company (NYSE:KO)

Tidal Investments LLC increased its position in The Coca-Cola Company (NYSE:KO - Free Report) by 30.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 195,228 shares of the company's stock after acquiring an additional 45,372 shares during the period. Tidal Investments LLC's holdings in Coca-Cola were worth $12,155,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Coca-Cola during the fourth quarter valued at about $3,402,151,000. Capital International Investors lifted its position in Coca-Cola by 96.0% in the fourth 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 during the period. Charles Schwab Investment Management Inc. raised its position 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 in the last quarter. Raymond James Financial Inc. bought a new stake in Coca-Cola during the fourth quarter worth approximately $500,192,000. Finally, 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 buying an additional 6,118,819 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

KO has been the topic of a number of analyst reports. Morgan Stanley lifted their price target on Coca-Cola from $76.00 to $78.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. Royal Bank of Canada increased their price objective on Coca-Cola from $73.00 to $76.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Jefferies Financial Group upgraded Coca-Cola from a "hold" rating to a "buy" rating and upped their target price for the company from $69.00 to $75.00 in a report on Thursday, January 30th. Evercore ISI raised their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Finally, Wells Fargo & Company upped their price objective on shares of Coca-Cola from $70.00 to $75.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $75.81.

Insiders Place Their Bets

In other Coca-Cola news, CFO John Murphy sold 88,658 shares of Coca-Cola stock in a transaction dated 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 in the company, valued at approximately $14,815,287.99. The trade was a 30.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Beatriz R. Perez sold 60,326 shares of Coca-Cola stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $71.87, for a total value of $4,335,629.62. Following the transaction, the executive vice president now owns 187,716 shares in the company, valued at $13,491,148.92. This trade represents a 24.32% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 462,407 shares of company stock valued at $32,990,056. Company insiders own 0.90% of the company's stock.

Coca-Cola Price Performance

NYSE KO traded up $0.56 on Friday, reaching $71.70. The company's stock had a trading volume of 4,129,292 shares, compared to its average volume of 15,644,120. The Coca-Cola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The business has a 50-day moving average price of $71.04 and a 200 day moving average price of $66.93. The firm has a market cap of $308.61 billion, a PE ratio of 29.01, a price-to-earnings-growth ratio of 3.79 and a beta of 0.47.

Coca-Cola (NYSE:KO - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 earnings per share (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 during the quarter, compared to the consensus estimate of $11.23 billion. During the same quarter in the previous year, the company posted $0.72 EPS. The business's revenue for the quarter was down .7% compared to the same quarter last year. Sell-side analysts expect that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued 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 dividend payout ratio is currently 81.60%.

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.