Clark Capital Management Group Inc. boosted its position in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 31.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 848,868 shares of the company's stock after buying an additional 204,681 shares during the quarter. Clark Capital Management Group Inc.'s holdings in Coca-Cola were worth $52,851,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of KO. Deutsche Bank AG grew its stake in shares of Coca-Cola by 23.6% in the 4th quarter. Deutsche Bank AG now owns 12,387,869 shares of the company's stock worth $771,269,000 after purchasing an additional 2,361,373 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in Coca-Cola by 14.9% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,535,906 shares of the company's stock worth $157,886,000 after buying an additional 328,501 shares in the last quarter. Eagle Global Advisors LLC grew its position in Coca-Cola by 368.9% in the fourth quarter. Eagle Global Advisors LLC now owns 121,008 shares of the company's stock worth $7,534,000 after buying an additional 95,200 shares during the last quarter. Colonial Trust Co SC increased its holdings in shares of Coca-Cola by 12.5% in the fourth quarter. Colonial Trust Co SC now owns 83,450 shares of the company's stock valued at $5,196,000 after buying an additional 9,295 shares in the last quarter. Finally, Concentric Capital Strategies LP acquired a new stake in shares of Coca-Cola during the 4th quarter valued at $241,000. 70.26% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
KO has been the topic of a number of recent analyst reports. Piper Sandler boosted their target price on Coca-Cola from $73.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. Royal Bank of Canada boosted their price objective on Coca-Cola from $73.00 to $76.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. UBS Group raised their target price on shares of Coca-Cola from $84.00 to $86.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. DZ Bank upgraded shares of Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price target on the stock in a report on Thursday, February 13th. Finally, Cfra Research upgraded shares of Coca-Cola to a "strong-buy" rating in a research report on Tuesday, April 15th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $75.59.
Read Our Latest Research Report on Coca-Cola
Insider Transactions at Coca-Cola
In related news, EVP Lisa Chang sold 13,445 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $71.50, for a total value of $961,317.50. Following the completion of the transaction, the executive vice president now owns 94,676 shares of the company's stock, valued at $6,769,334. This represents a 12.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Bruno Pietracci sold 19,058 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was 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. In the last quarter, insiders have 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
KO opened at $72.42 on Thursday. The Coca-Cola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The firm has a market capitalization of $311.66 billion, a P/E ratio of 29.32, a price-to-earnings-growth ratio of 3.79 and a beta of 0.47. The stock's 50 day moving average price is $70.96 and its two-hundred day moving average price is $66.63. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61.
Coca-Cola (NYSE:KO - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.71 by $0.02. The business had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.23 billion. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. Coca-Cola'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. On average, equities analysts forecast that The Coca-Cola Company will post 2.96 earnings per share for the current year.
Coca-Cola Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a $0.51 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.82%. Coca-Cola's dividend payout ratio is currently 81.60%.
About Coca-Cola
(
Free Report)
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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