Point72 Asia Singapore Pte. Ltd. Acquires 23,230 Shares of The Coca-Cola Company (NYSE:KO)

Point72 Asia Singapore Pte. Ltd. lifted its stake in The Coca-Cola Company (NYSE:KO - Free Report) by 97.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,968 shares of the company's stock after buying an additional 23,230 shares during the period. Coca-Cola makes up approximately 0.8% of Point72 Asia Singapore Pte. Ltd.'s investment portfolio, making the stock its 24th biggest position. Point72 Asia Singapore Pte. Ltd.'s holdings in Coca-Cola were worth $2,924,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Crowley Wealth Management Inc. bought a new stake in Coca-Cola during the fourth quarter worth about $27,000. Mainstream Capital Management LLC bought a new stake in shares of Coca-Cola during the 4th quarter worth approximately $31,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Coca-Cola during the 4th quarter worth approximately $37,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Coca-Cola during the 4th quarter worth approximately $38,000. Finally, Hoey Investments Inc. increased its stake in Coca-Cola by 41.9% in 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 institutional investors and hedge funds.

Coca-Cola Stock Up 0.4%

Shares of NYSE KO opened at $69.25 on Thursday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The company's 50 day moving average price is $70.86 and its 200-day moving average price is $66.68. The Coca-Cola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The company has a market capitalization of $298.07 billion, a P/E ratio of 28.04, a price-to-earnings-growth ratio of 3.79 and a beta of 0.47.

Coca-Cola (NYSE:KO - Get Free Report) last issued 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 analyst estimates of $11.23 billion. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The company's revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.72 earnings per share. Equities analysts forecast that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola's dividend payout ratio is presently 81.60%.

Insider Activity

In other Coca-Cola news, CEO James Quincey sold 145,435 shares of Coca-Cola stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total transaction of $10,327,339.35. Following the completion of the transaction, the chief executive officer now owns 342,546 shares in the company, valued at approximately $24,324,191.46. The trade was a 29.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lisa Chang sold 13,445 shares of the company's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $71.50, for a total value of $961,317.50. Following the sale, the executive vice president now owns 94,676 shares of the company's stock, valued at $6,769,334. This trade represents a 12.44% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 462,407 shares of company stock worth $32,990,056. Company insiders own 0.97% of the company's stock.

Analyst Upgrades and Downgrades

KO has been the subject of several recent analyst reports. Royal Bank of Canada upped their target price on Coca-Cola from $73.00 to $76.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Evercore ISI raised their price target 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. Jefferies Financial Group upgraded shares of Coca-Cola from a "hold" rating to a "buy" rating and raised their target price for the company from $69.00 to $75.00 in a research report on Thursday, January 30th. JPMorgan Chase & Co. upped their price target 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. Finally, DZ Bank upgraded Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price target for the company in a research note on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Coca-Cola presently has an average rating of "Buy" and a consensus target price of $75.59.

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.

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