Union Bancaire Privee UBP SA Buys 97,048 Shares of The Coca-Cola Company (NYSE:KO)

Union Bancaire Privee UBP SA increased its stake in The Coca-Cola Company (NYSE:KO - Free Report) by 23.6% during the first quarter, according to its most recent filing with the SEC. The fund owned 508,606 shares of the company's stock after buying an additional 97,048 shares during the quarter. Union Bancaire Privee UBP SA's holdings in Coca-Cola were worth $36,228,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Crowley Wealth Management Inc. bought a new position in Coca-Cola during the fourth quarter valued at approximately $27,000. Mainstream Capital Management LLC bought a new position in Coca-Cola during the fourth quarter valued at approximately $31,000. REAP Financial Group LLC grew its position in Coca-Cola by 57.5% during the fourth quarter. REAP Financial Group LLC now owns 570 shares of the company's stock valued at $35,000 after acquiring an additional 208 shares during the last quarter. Murphy & Mullick Capital Management Corp bought a new position in Coca-Cola during the fourth quarter valued at approximately $38,000. Finally, Hoey Investments Inc. grew its position in Coca-Cola by 41.9% during the fourth quarter. Hoey Investments Inc. now owns 613 shares of the company's stock valued at $38,000 after acquiring an additional 181 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on KO shares. UBS Group raised their target price 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 raised their target price 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. JPMorgan Chase & Co. raised their target price on shares of Coca-Cola from $74.00 to $78.00 and gave the stock an "overweight" rating in a report on Monday, April 21st. Cfra Research raised Coca-Cola to a "strong-buy" rating in a research note on Tuesday, April 15th. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $81.00 price target on shares of Coca-Cola in a research note on Monday, June 9th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $76.00.

Insider Activity

In other Coca-Cola news, EVP Beatriz R. Perez sold 60,326 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly owns 187,716 shares in the company, valued at $13,491,148.92. This represents a 24.32% 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, CFO John Murphy sold 88,658 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now owns 205,511 shares of the company's stock, valued at approximately $14,815,287.99. The trade was a 30.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 415,387 shares of company stock valued at $29,923,985 over the last three months. Insiders own 0.97% of the company's stock.

Coca-Cola Stock Down 1.8%

Shares of NYSE KO traded down $1.30 during midday trading on Friday, hitting $70.94. The stock had a trading volume of 17,424,785 shares, compared to its average volume of 15,884,646. The business's 50 day moving average is $71.56 and its 200-day moving average is $67.87. The company has a market cap of $305.36 billion, a P/E ratio of 28.72, a PEG ratio of 3.79 and a beta of 0.46. The Coca-Cola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61.

Coca-Cola (NYSE:KO - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.02. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The firm had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.23 billion. During the same quarter in the prior year, the firm posted $0.72 earnings per share. The business's revenue was down .7% on a year-over-year basis. As a group, analysts predict that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a dividend of $0.51 per share. The ex-dividend date is Friday, June 13th. This represents a $2.04 annualized dividend and a dividend yield of 2.88%. Coca-Cola's payout ratio is 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.