The Coca-Cola Company (NYSE:KO) Stake Boosted by Vivaldi Capital Management LP

Vivaldi Capital Management LP grew its stake in shares of The Coca-Cola Company (NYSE:KO) by 2.4% during the 4th quarter, HoldingsChannel reports. The fund owned 8,805 shares of the company’s stock after acquiring an additional 205 shares during the period. Vivaldi Capital Management LP’s holdings in Coca-Cola were worth $562,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of KO. Norges Bank bought a new stake in Coca-Cola in the fourth quarter worth $3,402,151,000. Capital International Investors boosted 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 worth $1,553,337,000 after purchasing an additional 12,222,885 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in 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 worth $4,617,400,000 after purchasing an additional 11,569,920 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Coca-Cola in the fourth quarter worth $500,192,000. Finally, Franklin Resources Inc. boosted its holdings in Coca-Cola by 21.9% in 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 in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on KO shares. Royal Bank of Canada upped their price objective on shares of Coca-Cola from $73.00 to $76.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. Piper Sandler upped their price objective 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. Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their target price for the stock from $69.00 to $75.00 in a research report on Thursday, January 30th. Barclays reissued an “overweight” rating on shares of Coca-Cola in a research report on Thursday, March 27th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Coca-Cola from $74.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, April 21st. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $75.59.

Coca-Cola Stock Down 0.2%

NYSE KO opened at $71.89 on Tuesday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The firm has a 50-day simple moving average of $70.92 and a 200 day simple moving average of $66.83. The Coca-Cola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The stock has a market cap of $309.43 billion, a PE ratio of 29.11, a PEG ratio of 3.79 and a beta of 0.47.

Coca-Cola (NYSE:KO) last released its 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 net margin of 22.59% and a return on equity of 45.37%. The business had revenue of $11.13 billion during the quarter, compared to analysts’ expectations of $11.23 billion. During the same quarter last year, the company earned $0.72 earnings per share. The firm’s revenue was down .7% on a year-over-year basis. On average, research analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola’s dividend payout ratio (DPR) is presently 81.60%.

Insider Buying and Selling

In related news, EVP Beatriz R. Perez sold 60,326 shares of the stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $71.87, for a total value of $4,335,629.62. Following the completion of the transaction, the executive vice president now owns 187,716 shares of the company’s stock, valued at $13,491,148.92. This represents a 24.32% 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 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 disclosure for this sale can be found here. Insiders sold 462,407 shares of company stock valued at $32,990,056 over the last quarter. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola 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.