Point72 Europe London LLP Buys Shares of 1,718,689 The Coca-Cola Company (NYSE:KO)

Point72 Europe London LLP acquired a new position in shares of The Coca-Cola Company (NYSE:KO - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 1,718,689 shares of the company's stock, valued at approximately $107,006,000. Coca-Cola accounts for about 6.2% of Point72 Europe London LLP's holdings, making the stock its largest position.

Several other large investors have also recently added to or reduced their stakes in KO. Voleon Capital Management LP bought a new stake in Coca-Cola during the fourth quarter worth approximately $2,513,000. Rice Partnership LLC increased its position in shares of Coca-Cola by 7.1% during the 4th quarter. Rice Partnership LLC now owns 102,746 shares of the company's stock valued at $6,397,000 after purchasing an additional 6,793 shares during the period. Newbridge Financial Services Group Inc. raised its stake in shares of Coca-Cola by 62.2% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 26,708 shares of the company's stock worth $1,663,000 after buying an additional 10,240 shares in the last quarter. Lockheed Martin Investment Management Co. lifted its holdings in shares of Coca-Cola by 16.3% in the fourth quarter. Lockheed Martin Investment Management Co. now owns 218,985 shares of the company's stock valued at $13,634,000 after buying an additional 30,650 shares during the period. Finally, abrdn plc lifted its holdings in shares of Coca-Cola by 0.3% in the fourth quarter. abrdn plc now owns 7,238,640 shares of the company's stock valued at $447,963,000 after buying an additional 22,904 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on KO shares. Barclays reiterated an "overweight" rating on shares of Coca-Cola in a research report on Thursday, March 27th. Wells Fargo & Company upped their price target on shares of Coca-Cola from $70.00 to $75.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. DZ Bank raised shares of Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 target price on the stock in a research note on Thursday, February 13th. Jefferies Financial Group raised Coca-Cola from a "hold" rating to a "buy" rating and raised their target price for the stock from $69.00 to $75.00 in a research report on Thursday, January 30th. Finally, Piper Sandler upped their price target on Coca-Cola from $73.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, February 28th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $75.59.

Insider Activity

In other news, CFO John Murphy sold 88,658 shares of the business's stock in a transaction on Wednesday, May 7th. The shares were 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 directly owns 205,511 shares in the company, valued at $14,815,287.99. The trade was a 30.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO James Quincey sold 145,435 shares of the firm's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $71.01, for a total value of $10,327,339.35. Following the completion of the sale, the chief executive officer now directly 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 disclosure for this sale can be found here. Insiders sold 462,407 shares of company stock valued at $32,990,056 in the last three months. Company insiders own 0.97% of the company's stock.

Coca-Cola Price Performance

Shares of KO opened at $69.25 on Thursday. The firm has a market cap of $298.07 billion, a PE ratio of 28.04, a price-to-earnings-growth ratio of 3.79 and a beta of 0.47. The Coca-Cola Company has a 52-week low of $60.62 and a 52-week high of $74.38. 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 business's 50 day moving average price is $70.86 and its two-hundred day moving average price is $66.68.

Coca-Cola (NYSE:KO - Get Free Report) last announced its quarterly earnings results 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. The business 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 revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.72 EPS. On average, equities analysts anticipate that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Announces Dividend

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

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.

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