Capital Research Global Investors Purchases 5,139,352 Shares of The Coca-Cola Company (NYSE:KO)

Capital Research Global Investors lifted its holdings in The Coca-Cola Company (NYSE:KO) by 119.0% during the fourth quarter, HoldingsChannel reports. The firm owned 9,458,248 shares of the company’s stock after purchasing an additional 5,139,352 shares during the period. Capital Research Global Investors’ holdings in Coca-Cola were worth $588,871,000 as of its most recent filing with the SEC.

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

Insiders Place Their Bets

In other Coca-Cola news, EVP Lisa Chang sold 13,445 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 94,676 shares in the company, valued at approximately $6,769,334. This trade represents a 12.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Henrique Braun sold 25,277 shares of the business’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 completion of the transaction, the chief operating officer now directly owns 52,466 shares of the company’s stock, valued at $3,749,745.02. This trade represents a 32.51 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 313,423 shares of company stock valued at $22,263,071. Company insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on KO shares. Barclays restated an “overweight” rating on shares of Coca-Cola in a research note on Thursday, March 27th. JPMorgan Chase & Co. decreased their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research report on Wednesday, January 8th. Morgan Stanley lifted their price objective on Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Finally, Piper Sandler increased their target price on Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $74.59.

Coca-Cola Stock Performance

KO stock opened at $72.99 on Friday. The stock has a market capitalization of $314.13 billion, a PE ratio of 29.55, a price-to-earnings-growth ratio of 3.79 and a beta of 0.45. 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 company has a 50 day moving average price of $70.39 and a 200 day moving average price of $66.39. The Coca-Cola Company has a fifty-two week low of $59.72 and a fifty-two week high of $73.95.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. Analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

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

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.