The Coca-Cola Company (NYSE:KO) Shares Bought by Capital Research Global Investors

Capital Research Global Investors increased its position in The Coca-Cola Company (NYSE:KO) by 119.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,458,248 shares of the company’s stock after purchasing an additional 5,139,352 shares during the quarter. Capital Research Global Investors owned 0.22% of Coca-Cola worth $588,871,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position in shares of Coca-Cola by 14.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 17,769,958 shares of the company’s stock worth $1,106,336,000 after buying an additional 2,284,429 shares in the last quarter. Elevatus Welath Management grew its holdings in Coca-Cola by 28.2% during the 4th quarter. Elevatus Welath Management now owns 6,772 shares of the company’s stock worth $422,000 after acquiring an additional 1,488 shares in the last quarter. First Trust Advisors LP increased its position in shares of Coca-Cola by 9.0% in the 4th quarter. First Trust Advisors LP now owns 4,051,672 shares of the company’s stock worth $252,257,000 after purchasing an additional 335,409 shares during the last quarter. Freedom Investment Management Inc. raised its stake in shares of Coca-Cola by 17.2% in the 4th quarter. Freedom Investment Management Inc. now owns 7,302 shares of the company’s stock valued at $455,000 after purchasing an additional 1,071 shares in the last quarter. Finally, Forum Financial Management LP lifted its holdings in Coca-Cola by 24.6% during the 4th quarter. Forum Financial Management LP now owns 46,408 shares of the company’s stock worth $2,889,000 after buying an additional 9,161 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Performance

Shares of KO stock opened at $72.99 on Friday. The stock’s fifty day simple moving average is $70.39 and its 200-day simple moving average is $66.39. The company has a market capitalization of $314.13 billion, a price-to-earnings ratio of 29.55, a P/E/G ratio of 3.79 and a beta of 0.45. 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 Coca-Cola Company has a 1-year low of $59.72 and a 1-year high of $73.95.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 EPS 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, sell-side 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. Investors of record on Friday, March 14th were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.79%. 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. Coca-Cola’s dividend payout ratio (DPR) is currently 82.59%.

Analyst Ratings Changes

A number of brokerages have commented on KO. Barclays restated an “overweight” rating on shares of Coca-Cola in a research note on Thursday, March 27th. Piper Sandler boosted their price target on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Cfra Research upgraded shares of Coca-Cola to a “strong-buy” rating in a research note on Tuesday, April 15th. Royal Bank of Canada restated an “outperform” rating and issued a $69.00 target price on shares of Coca-Cola in a research report on Thursday, February 6th. Finally, UBS Group lifted their price target on Coca-Cola from $78.00 to $84.00 and gave the company a “buy” rating in a research report on Thursday. Two equities 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. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $74.59.

Insider Activity at Coca-Cola

In other news, COO Henrique Braun sold 25,277 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $71.47, for a total transaction of $1,806,547.19. Following the transaction, the chief operating officer now owns 52,466 shares in the company, valued at approximately $3,749,745.02. This trade represents a 32.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James Quincey sold 145,435 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total transaction of $10,327,339.35. Following the transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at $24,324,191.46. The trade was a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 313,423 shares of company stock valued at $22,263,071. Insiders own 0.90% 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.