MetLife Investment Management LLC Raises Stock Holdings in The Coca-Cola Company (NYSE:KO)

MetLife Investment Management LLC raised its stake in shares of The Coca-Cola Company (NYSE:KO) by 1.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,124,364 shares of the company’s stock after acquiring an additional 14,357 shares during the period. MetLife Investment Management LLC’s holdings in Coca-Cola were worth $70,003,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Crowley Wealth Management Inc. purchased a new stake in Coca-Cola in the fourth quarter valued at approximately $27,000. Mainstream Capital Management LLC acquired a new position in Coca-Cola in the 4th quarter valued at about $31,000. Retirement Wealth Solutions LLC acquired a new position in Coca-Cola in the 4th quarter valued at about $37,000. Murphy & Mullick Capital Management Corp purchased a new stake in Coca-Cola during the fourth quarter worth about $38,000. Finally, Hoey Investments Inc. lifted its position in shares of Coca-Cola by 41.9% during the fourth quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock worth $38,000 after purchasing an additional 181 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Trading Up 1.8 %

NYSE:KO opened at $72.99 on Friday. The company has a market capitalization of $314.13 billion, a PE ratio of 29.55, a P/E/G ratio of 3.79 and a beta of 0.45. The Coca-Cola Company has a 52-week low of $59.00 and a 52-week high of $73.95. The stock’s 50 day moving average price is $70.39 and its 200 day moving average price is $66.42. 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 announced 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 net margin of 22.59% and a return on equity of 45.37%. On average, research analysts anticipate that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date was Friday, March 14th. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio (DPR) is currently 82.59%.

Wall Street Analysts Forecast Growth

KO has been the subject of a number of research reports. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Wednesday, January 8th. DZ Bank upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a report on Thursday, February 13th. Wells Fargo & Company upped their price target on Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Evercore ISI lifted their price objective on Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Finally, Piper Sandler boosted their price objective on Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $74.59.

Insider Buying and Selling

In related news, CEO James Quincey sold 145,435 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $71.01, for a total value of $10,327,339.35. Following the sale, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at approximately $24,324,191.46. This represents a 29.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lisa Chang sold 13,445 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $71.50, for a total transaction of $961,317.50. Following the transaction, the executive vice president now owns 94,676 shares of the company’s stock, valued at $6,769,334. This trade represents a 12.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 313,423 shares of company stock valued at $22,263,071. Corporate insiders own 0.90% 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.