Point72 Europe London LLP Makes New Investment in The Coca-Cola Company (NYSE:KO)

Point72 Europe London LLP purchased a new stake 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 Securities & Exchange Commission. The institutional investor purchased 1,718,689 shares of the company's stock, valued at approximately $107,006,000. Coca-Cola comprises about 6.2% of Point72 Europe London LLP's holdings, making the stock its biggest position.

Several other hedge funds have also modified their holdings of KO. Crowley Wealth Management Inc. acquired a new stake in Coca-Cola in the 4th quarter valued at $27,000. Mainstream Capital Management LLC acquired a new position in shares of Coca-Cola during the 4th quarter valued at about $31,000. Retirement Wealth Solutions LLC purchased a new position in shares of Coca-Cola during the 4th quarter worth $37,000. Murphy & Mullick Capital Management Corp purchased a new stake in Coca-Cola in the 4th quarter valued at about $38,000. Finally, Hoey Investments Inc. raised its holdings in Coca-Cola by 41.9% in the 4th quarter. Hoey Investments Inc. now owns 613 shares of the company's stock valued at $38,000 after buying an additional 181 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on KO. UBS Group upped their target price on shares of Coca-Cola from $84.00 to $86.00 and gave the stock a "buy" rating in a research note 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 research report on Friday, February 28th. Morgan Stanley increased their price target on Coca-Cola from $76.00 to $78.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. DZ Bank raised Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 target price for the company in a report on Thursday, February 13th. Finally, Barclays reaffirmed an "overweight" rating on shares of Coca-Cola in a research note on Thursday, March 27th. Two 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's stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $75.59.

Insider Activity

In other news, EVP Beatriz R. Perez sold 60,326 shares of the stock in a transaction 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 $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 Securities & Exchange Commission, which is available at this link. Also, insider Bruno Pietracci sold 19,058 shares of Coca-Cola stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $70.56, for a total value of $1,344,732.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 462,407 shares of company stock valued at $32,990,056. Company insiders own 0.97% of the company's stock.

Coca-Cola Trading Down 0.0%

KO traded down $0.02 on Monday, reaching $71.98. 4,606,722 shares of the company's stock were exchanged, compared to its average volume of 15,624,197. The company's 50 day moving average is $70.88 and its 200-day moving average is $66.78. The company has a market cap of $309.84 billion, a price-to-earnings ratio of 29.14, a PEG ratio of 3.79 and a beta of 0.47. The Coca-Cola Company has a twelve month low of $60.62 and a twelve month 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.

Coca-Cola (NYSE:KO - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, topping 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 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 quarter in the previous year, the firm posted $0.72 earnings per share. Equities analysts predict that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend is Friday, June 13th. 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.