Tokio Marine Asset Management Co. Ltd. Acquires 8,810 Shares of CocaCola Company (The) (NYSE:KO)

Key Points

• Tokio Marine Asset Management Co. Ltd. increased its holdings in CocaCola Company by 7.7%, owning a total of 123,487 shares valued at approximately $8.84 million.
• CocaCola recently announced a quarterly dividend of $0.51 per share, with an annualized yield of 2.9% and a payout ratio of 72.34%.
• Analysts have set varying price targets for CocaCola, with an average target of $77.21, indicating a generally favorable outlook for the stock.

Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 7.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 123,487 shares of the company's stock after buying an additional 8,810 shares during the period. Tokio Marine Asset Management Co. Ltd.'s holdings in CocaCola were worth $8,844,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of KO. Brighton Jones LLC raised its holdings in CocaCola by 13.3% during the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company's stock worth $2,433,000 after buying an additional 4,591 shares during the period. Revolve Wealth Partners LLC raised its holdings in CocaCola by 3.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company's stock worth $548,000 after buying an additional 293 shares during the period. Bank Pictet & Cie Europe AG grew its stake in shares of CocaCola by 12.2% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 19,102 shares of the company's stock worth $1,189,000 after acquiring an additional 2,072 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of CocaCola by 59.6% during the 4th quarter. Renaissance Technologies LLC now owns 5,013 shares of the company's stock worth $310,000 after acquiring an additional 1,873 shares in the last quarter. Finally, Mariner LLC grew its stake in shares of CocaCola by 7.5% during the 4th quarter. Mariner LLC now owns 1,404,724 shares of the company's stock worth $87,458,000 after acquiring an additional 97,901 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

CocaCola Stock Down 1.3%

Shares of NYSE:KO traded down $0.89 during midday trading on Thursday, hitting $69.57. The stock had a trading volume of 10,708,941 shares, compared to its average volume of 14,306,699. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. The business's 50-day simple moving average is $70.05 and its 200-day simple moving average is $70.06. The company has a market cap of $299.40 billion, a P/E ratio of 24.67, a PEG ratio of 3.67 and a beta of 0.44.

CocaCola (NYSE:KO - Get Free Report) last released its earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.04. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The business had revenue of $12.50 billion during the quarter, compared to analysts' expectations of $12.55 billion. During the same period last year, the business earned $0.84 earnings per share. The firm's revenue was up 2.5% on a year-over-year basis. On average, sell-side analysts forecast that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Monday, September 15th. CocaCola's payout ratio is 72.34%.

Insiders Place Their Bets

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total transaction of $2,584,063.60. Following the completion of the transaction, the insider directly owned 209,513 shares of the company's stock, valued at $14,477,348.30. The trade was a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James Quincey sold 266,403 shares of CocaCola stock in a transaction on Friday, May 30th. The stock was sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the transaction, the chief executive officer directly owned 275,946 shares of the company's stock, valued at approximately $19,884,668.76. This trade represents a 49.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.97% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on KO. BNP Paribas reaffirmed an "outperform" rating and set a $83.00 price target on shares of CocaCola in a research note on Monday, July 21st. JPMorgan Chase & Co. raised their price target on shares of CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Morgan Stanley reaffirmed an "overweight" rating and set a $81.00 price target on shares of CocaCola in a research note on Monday, June 9th. UBS Group decreased their price target on shares of CocaCola from $86.00 to $84.00 and set a "buy" rating for the company in a research note on Wednesday, July 23rd. Finally, Royal Bank Of Canada set a $76.00 price target on shares of CocaCola and gave the stock an "outperform" rating in a research note on Monday, July 21st. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, CocaCola presently has an average rating of "Buy" and a consensus target price of $77.21.

CocaCola 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.