The Coca-Cola Company (NYSE:KO) Shares Acquired by Rathbones Group PLC

Rathbones Group PLC lifted its position in The Coca-Cola Company (NYSE:KO) by 3.0% in the fourth quarter, HoldingsChannel reports. The firm owned 5,605,600 shares of the company’s stock after buying an additional 164,503 shares during the period. Coca-Cola makes up about 1.7% of Rathbones Group PLC’s portfolio, making the stock its 12th biggest holding. Rathbones Group PLC’s holdings in Coca-Cola were worth $349,005,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC raised its position in Coca-Cola by 3.3% in the third quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock valued at $6,664,005,000 after purchasing an additional 2,966,964 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Coca-Cola by 18.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company’s stock valued at $4,617,400,000 after buying an additional 11,569,920 shares in the last quarter. Norges Bank acquired a new position in Coca-Cola in the 4th quarter valued at about $3,402,151,000. Franklin Resources Inc. increased its stake in Coca-Cola by 21.9% during the fourth quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company’s stock worth $2,123,301,000 after purchasing an additional 6,118,819 shares during the period. Finally, Invesco Ltd. lifted its position in shares of Coca-Cola by 18.2% during the fourth quarter. Invesco Ltd. now owns 24,566,933 shares of the company’s stock worth $1,529,537,000 after purchasing an additional 3,791,300 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Price Performance

Shares of NYSE:KO opened at $69.87 on Monday. The company has a market cap of $300.67 billion, a P/E ratio of 28.29, a PEG ratio of 3.79 and a beta of 0.45. The company has a 50-day moving average price of $68.72 and a 200 day moving average price of $66.38. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.95. 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) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. Research analysts predict that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a dividend of $0.51 per share. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.04 annualized dividend and a dividend yield of 2.92%. Coca-Cola’s payout ratio is 82.59%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on KO. Piper Sandler increased their target price on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. JPMorgan Chase & Co. lowered their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. DZ Bank raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Thursday, February 13th. Jefferies Financial Group upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and upped their target price for the stock from $69.00 to $75.00 in a research note on Thursday, January 30th. Finally, Morgan Stanley boosted their price target on shares of Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $74.24.

Insider Activity at Coca-Cola

In related news, CEO James Quincey sold 145,435 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total value of $10,327,339.35. Following the completion of the transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $24,324,191.46. This represents a 29.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Nikolaos Koumettis sold 54,708 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $70.96, for a total value of $3,882,079.68. Following the completion of the sale, the insider now directly owns 246,909 shares in the company, valued at approximately $17,520,662.64. The trade was a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 313,423 shares of company stock valued at $22,263,071 in the last ninety days. Corporate insiders own 0.97% of the company’s stock.

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.