Aigen Investment Management LP Buys 65,399 Shares of The Coca-Cola Company (NYSE:KO)

Aigen Investment Management LP grew its position in shares of The Coca-Cola Company (NYSE:KO) by 504.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 78,364 shares of the company’s stock after buying an additional 65,399 shares during the period. Coca-Cola accounts for 0.9% of Aigen Investment Management LP’s holdings, making the stock its 6th biggest holding. Aigen Investment Management LP’s holdings in Coca-Cola were worth $4,879,000 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. Mainstream Capital Management LLC purchased a new position in shares of Coca-Cola in the fourth quarter valued at $31,000. Hara Capital LLC acquired a new stake in Coca-Cola in the 3rd quarter valued at about $35,000. Retirement Wealth Solutions LLC purchased a new position in Coca-Cola during the 4th quarter valued at about $37,000. MilWealth Group LLC acquired a new position in shares of Coca-Cola during the 4th quarter worth approximately $40,000. Finally, MidAtlantic Capital Management Inc. purchased a new position in shares of Coca-Cola during the third quarter valued at approximately $43,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Trading Down 3.1 %

Shares of NYSE KO opened at $70.08 on Wednesday. The company’s 50 day simple moving average is $64.87 and its 200 day simple moving average is $66.53. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. The Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53. The firm has a market capitalization of $301.40 billion, a P/E ratio of 28.37, a P/E/G ratio of 3.79 and a beta of 0.61.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. On average, analysts predict that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.51 per share. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a dividend yield of 2.91%. The ex-dividend date is Friday, March 14th. Coca-Cola’s dividend payout ratio (DPR) is currently 82.59%.

Insider Activity

In other Coca-Cola news, CEO James Quincey sold 145,435 shares of the firm’s stock in a transaction that occurred 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 $24,324,191.46. This trade represents a 29.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Nikolaos Koumettis sold 54,708 shares of the firm’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $70.96, for a total transaction of $3,882,079.68. Following the completion of the transaction, the insider now directly owns 246,909 shares of the company’s stock, valued at $17,520,662.64. This represents a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 232,646 shares of company stock worth $16,515,469 over the last ninety days. Insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

KO has been the topic of several research analyst reports. Jefferies Financial Group raised shares of 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. Barclays upped their price objective on Coca-Cola from $66.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. reduced their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. DZ Bank raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Thursday, February 13th. Finally, UBS Group lifted their price target on shares of Coca-Cola from $72.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $74.24.

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.