Capital Group Investment Management PTE. LTD. Acquires New Stake in The Coca-Cola Company (NYSE:KO)

Capital Group Investment Management PTE. LTD. purchased a new position in shares of The Coca-Cola Company (NYSE:KO) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 3,232 shares of the company’s stock, valued at approximately $201,000.

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

Insiders Place Their Bets

In other Coca-Cola news, COO Henrique Braun sold 25,277 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $71.47, for a total value of $1,806,547.19. Following the transaction, the chief operating officer now owns 52,466 shares of the company’s stock, valued at $3,749,745.02. This trade represents a 32.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Lisa Chang sold 13,445 shares of Coca-Cola stock in a transaction that occurred on 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 approximately $6,769,334. The trade was a 12.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 313,423 shares of company stock valued at $22,263,071 in the last quarter. Insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Cfra Research upgraded Coca-Cola to a “strong-buy” rating in a report on Tuesday. Piper Sandler lifted their price objective on Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Barclays reissued an “overweight” rating on shares of Coca-Cola in a research report on Thursday, March 27th. DZ Bank raised shares of 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. Finally, Wells Fargo & Company raised their target price on shares of Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $74.59.

Coca-Cola Stock Up 1.8 %

KO stock opened at $72.99 on Friday. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The firm has a 50 day simple moving average of $70.39 and a 200-day simple moving average of $66.42. The company has a market capitalization of $314.13 billion, a P/E ratio of 29.55, a PEG ratio of 3.79 and a beta of 0.45. The Coca-Cola Company has a twelve month low of $59.00 and a twelve month high of $73.95.

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

Coca-Cola Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were paid a dividend of $0.51 per share. The ex-dividend date was Friday, March 14th. This represents a $2.04 annualized dividend and a yield of 2.79%. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio is presently 82.59%.

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.