Crestline Management LP Purchases 42,804 Shares of The Coca-Cola Company (NYSE:KO)

Crestline Management LP lifted its stake in The Coca-Cola Company (NYSE:KO - Free Report) by 28.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 191,667 shares of the company's stock after buying an additional 42,804 shares during the period. Crestline Management LP's holdings in Coca-Cola were worth $11,933,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Norges Bank bought a new stake in shares of Coca-Cola in the fourth quarter worth about $3,402,151,000. Capital International Investors lifted its holdings in Coca-Cola by 96.0% in the 4th quarter. Capital International Investors now owns 24,949,194 shares of the company's stock worth $1,553,337,000 after buying an additional 12,222,885 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Coca-Cola by 18.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company's stock worth $4,617,400,000 after buying an additional 11,569,920 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Coca-Cola during the fourth quarter valued at approximately $500,192,000. Finally, Franklin Resources Inc. raised its holdings in shares of Coca-Cola by 21.9% during the fourth quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company's stock valued at $2,123,301,000 after acquiring an additional 6,118,819 shares in the last quarter. Institutional investors own 70.26% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on KO. Cfra Research upgraded shares of Coca-Cola to a "strong-buy" rating in a report on Tuesday, April 15th. TD Cowen upgraded shares of Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price objective for the company in a report on Wednesday, January 8th. Evercore ISI raised their target price on Coca-Cola from $72.00 to $75.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Wells Fargo & Company upped their price target on Coca-Cola from $70.00 to $75.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. Finally, Jefferies Financial Group upgraded shares of Coca-Cola from a "hold" rating to a "buy" rating and boosted their target price for the company from $69.00 to $75.00 in a report on Thursday, January 30th. Two equities research 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. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $75.59.

Insider Buying and Selling

In related news, insider Bruno Pietracci sold 19,058 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $70.56, for a total transaction of $1,344,732.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Henrique Braun sold 25,277 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $71.47, for a total transaction of $1,806,547.19. Following the sale, the chief operating officer now directly owns 52,466 shares of the company's stock, valued at approximately $3,749,745.02. This trade represents a 32.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 313,423 shares of company stock valued at $22,263,071. 0.97% of the stock is owned by corporate insiders.

Coca-Cola Stock Performance

NYSE:KO traded up $0.70 during mid-day trading on Wednesday, reaching $72.42. The company's stock had a trading volume of 15,017,468 shares, compared to its average volume of 15,462,948. The firm's fifty day moving average price is $70.96 and its two-hundred day moving average price is $66.63. The Coca-Cola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The stock has a market cap of $311.66 billion, a P/E ratio of 29.32, a PEG ratio of 3.79 and a beta of 0.47. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61.

Coca-Cola (NYSE:KO - Get Free Report) last released 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. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The firm had revenue of $11.13 billion for the quarter, compared to analysts' expectations of $11.23 billion. During the same period in the prior year, the firm earned $0.72 EPS. The company's revenue was down .7% compared to the same quarter last year. On average, equities analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.82%. The ex-dividend date is Friday, June 13th. Coca-Cola's dividend payout ratio is presently 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.