Ardevora Asset Management LLP Has $16.36 Million Stock Position in The Coca-Cola Company (NYSE:KO)

Ardevora Asset Management LLP decreased its position in The Coca-Cola Company (NYSE:KO - Free Report) by 47.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 277,640 shares of the company's stock after selling 255,370 shares during the period. Coca-Cola makes up approximately 1.5% of Ardevora Asset Management LLP's holdings, making the stock its 19th biggest position. Ardevora Asset Management LLP's holdings in Coca-Cola were worth $16,361,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Freedom Wealth Alliance LLC acquired a new stake in shares of Coca-Cola in the 4th quarter worth approximately $25,000. ZRC Wealth Management LLC lifted its stake in Coca-Cola by 213.3% during the fourth quarter. ZRC Wealth Management LLC now owns 470 shares of the company's stock valued at $26,000 after purchasing an additional 320 shares during the last quarter. Criterion Capital Advisors LLC acquired a new stake in Coca-Cola during the fourth quarter valued at approximately $30,000. Fortis Capital Advisors LLC acquired a new stake in Coca-Cola during the fourth quarter valued at approximately $30,000. Finally, KB Financial Partners LLC acquired a new stake in Coca-Cola during the first quarter valued at approximately $31,000. Institutional investors own 70.26% of the company's stock.

Coca-Cola Stock Up 2.1 %

Shares of KO traded up $1.26 during mid-day trading on Friday, hitting $60.17. 21,207,852 shares of the company's stock were exchanged, compared to its average volume of 11,594,415. The firm has a fifty day moving average of $59.94 and a two-hundred day moving average of $58.61. The Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $64.99. The stock has a market cap of $259.40 billion, a price-to-earnings ratio of 24.26, a P/E/G ratio of 3.44 and a beta of 0.59. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 1.29.

Coca-Cola (NYSE:KO - Get Free Report) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.48 by $0.01. Coca-Cola had a net margin of 23.42% and a return on equity of 42.50%. The company had revenue of $10.80 billion for the quarter, compared to analyst estimates of $10.68 billion. During the same quarter in the prior year, the business posted $0.45 EPS. Coca-Cola's quarterly revenue was up 6.9% on a year-over-year basis. On average, sell-side analysts forecast that The Coca-Cola Company will post 2.81 earnings per share for the current year.

Coca-Cola Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were issued a dividend of $0.485 per share. This is an increase from Coca-Cola's previous quarterly dividend of $0.46. This represents a $1.94 annualized dividend and a dividend yield of 3.22%. The ex-dividend date of this dividend was Thursday, March 14th. Coca-Cola's dividend payout ratio is currently 78.23%.

Insider Buying and Selling

In related news, CEO James Quincey sold 247,188 shares of the company's stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the completion of the sale, the chief executive officer now directly owns 442,546 shares of the company's stock, valued at approximately $26,968,753.24. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO James Quincey sold 247,188 shares of the company's stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the completion of the sale, the chief executive officer now directly owns 442,546 shares of the company's stock, valued at approximately $26,968,753.24. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Beatriz R. Perez sold 52,300 shares of the company's stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $60.00, for a total transaction of $3,138,000.00. Following the sale, the executive vice president now directly owns 143,383 shares of the company's stock, valued at $8,602,980. The disclosure for this sale can be found here. In the last three months, insiders sold 375,407 shares of company stock valued at $22,795,742. Company insiders own 0.97% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on KO. Barclays increased their target price on shares of Coca-Cola from $66.00 to $68.00 and gave the company an "overweight" rating in a research note on Friday, April 12th. Citigroup boosted their price target on shares of Coca-Cola from $67.00 to $68.00 and gave the company a "buy" rating in a report on Wednesday, January 17th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Coca-Cola from $66.00 to $65.00 and set an "overweight" rating on the stock in a research note on Friday. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $67.09.

Coca-Cola 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.