The Coca-Cola Company (NYSE:KO) Position Lessened by Toronto Dominion Bank

Toronto Dominion Bank lowered its stake in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 18.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,980,183 shares of the company's stock after selling 444,372 shares during the period. Toronto Dominion Bank's holdings in Coca-Cola were worth $123,285,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Coca-Cola during the 4th quarter worth $3,402,151,000. Capital International Investors grew its position 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. Charles Schwab Investment Management Inc. increased 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 valued at $4,617,400,000 after purchasing an additional 11,569,920 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Coca-Cola during the fourth quarter worth about $500,192,000. Finally, Franklin Resources Inc. lifted its position in Coca-Cola by 21.9% during the fourth quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company's stock worth $2,123,301,000 after buying an additional 6,118,819 shares during the period. Hedge funds and other institutional investors own 70.26% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Jefferies Financial Group raised shares of Coca-Cola from a "hold" rating to a "buy" rating and upped their price objective for the company from $69.00 to $75.00 in a research note on Thursday, January 30th. JPMorgan Chase & Co. lifted their price target on shares of Coca-Cola from $74.00 to $78.00 and gave the company an "overweight" rating in a report on Monday, April 21st. Piper Sandler upped their price objective on Coca-Cola from $73.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. Royal Bank of Canada increased their target price on Coca-Cola from $73.00 to $76.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Finally, Morgan Stanley boosted their price target on Coca-Cola from $76.00 to $78.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $75.81.

Insider Buying and Selling at Coca-Cola

In related news, COO Henrique Braun sold 25,277 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $71.47, for a total transaction of $1,806,547.19. Following the sale, the chief operating officer now directly owns 52,466 shares of the company's stock, valued at approximately $3,749,745.02. This represents a 32.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Nikolaos Koumettis sold 55,500 shares of Coca-Cola stock in a transaction on Friday, March 7th. The stock was sold at an average price of $71.01, for a total transaction of $3,941,055.00. Following the completion of the transaction, the insider now directly owns 246,909 shares of the company's stock, valued at approximately $17,533,008.09. This represents a 18.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 229,761 shares of company stock worth $16,474,587 over the last quarter. 0.97% of the stock is owned by corporate insiders.

Coca-Cola Stock Down 0.2%

NYSE:KO traded down $0.16 on Thursday, reaching $70.99. The stock had a trading volume of 4,049,139 shares, compared to its average volume of 15,650,934. The stock has a market cap of $305.56 billion, a P/E ratio of 28.74, a price-to-earnings-growth ratio of 3.79 and a beta of 0.47. The Coca-Cola Company has a 12-month low of $60.62 and a 12-month 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 company has a 50-day moving average of $71.23 and a 200 day moving average of $67.14.

Coca-Cola (NYSE:KO - Get Free Report) last posted its quarterly earnings results 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. The firm had revenue of $11.13 billion for the quarter, compared to analysts' expectations of $11.23 billion. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The firm's quarterly revenue was down .7% on a year-over-year basis. During the same period in the prior year, the company posted $0.72 earnings per share. On average, research analysts predict that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Announces Dividend

The company also recently disclosed 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. This represents a $2.04 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend is Friday, June 13th. 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.