Twinbeech Capital LP Acquires New Shares in The Coca-Cola Company (NYSE:KO)

Twinbeech Capital LP acquired a new position in shares of The Coca-Cola Company (NYSE:KO - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 117,466 shares of the company's stock, valued at approximately $7,313,000.

Several other hedge funds also recently added to or reduced their stakes in KO. Two Sigma Investments LP raised its position in shares of Coca-Cola by 1.3% during the 4th quarter. Two Sigma Investments LP now owns 48,000 shares of the company's stock worth $2,988,000 after buying an additional 621 shares in the last quarter. Texas Bank & Trust Co purchased a new position in Coca-Cola during the fourth quarter valued at approximately $2,442,000. Tidal Investments LLC grew its position in Coca-Cola by 30.3% during the fourth quarter. Tidal Investments LLC now owns 195,228 shares of the company's stock valued at $12,155,000 after purchasing an additional 45,372 shares in the last quarter. TrinityPoint Wealth LLC grew its position in Coca-Cola by 5.1% in the fourth quarter. TrinityPoint Wealth LLC now owns 10,597 shares of the company's stock worth $660,000 after acquiring an additional 512 shares in the last quarter. Finally, Stonebrook Private Inc. grew its position in Coca-Cola by 4.4% in the fourth quarter. Stonebrook Private Inc. now owns 12,385 shares of the company's stock worth $771,000 after acquiring an additional 519 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Stock Up 0.2%

Shares of KO traded up $0.15 during trading hours on Wednesday, reaching $71.84. The stock had a trading volume of 12,090,362 shares, compared to its average volume of 15,674,609. The Coca-Cola Company has a 12 month low of $60.62 and a 12 month high of $74.38. The firm has a 50-day simple moving average of $71.02 and a 200 day simple moving average of $66.89. 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 market capitalization of $309.23 billion, a price-to-earnings ratio of 29.09, a P/E/G 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 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 business had revenue of $11.13 billion for the quarter, compared to analysts' expectations of $11.23 billion. During the same period last year, the business earned $0.72 EPS. The business's revenue was down .7% on a year-over-year basis. Equities research analysts predict that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.84%. The ex-dividend date is Friday, June 13th. Coca-Cola's dividend payout ratio is presently 81.60%.

Analyst Ratings Changes

KO has been the subject of several recent analyst reports. UBS Group upped 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 upped their price objective on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. Cfra Research raised shares of Coca-Cola to a "strong-buy" rating in a report on Tuesday, April 15th. Royal Bank of Canada upped their target price 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. Finally, Evercore ISI upped their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Coca-Cola has an average rating of "Buy" and an average target price of $75.59.

Insider Activity at Coca-Cola

In other Coca-Cola news, EVP Beatriz R. Perez sold 60,326 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $71.87, for a total value of $4,335,629.62. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Lisa Chang sold 13,445 shares of the company's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $71.50, for a total value of $961,317.50. Following the transaction, the executive vice president now owns 94,676 shares of the company's stock, valued at approximately $6,769,334. This represents a 12.44% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 462,407 shares of company stock worth $32,990,056. Company insiders own 0.90% 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.