The Coca-Cola Company (NYSE:KO) Stock Position Raised by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. raised its position in shares of The Coca-Cola Company (NYSE:KO) by 19.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,236 shares of the company’s stock after purchasing an additional 1,162 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Coca-Cola were worth $426,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Morgan Stanley grew its holdings in shares of Coca-Cola by 2.5% during the 3rd quarter. Morgan Stanley now owns 80,448,083 shares of the company’s stock valued at $4,503,484,000 after acquiring an additional 1,950,146 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Coca-Cola by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 63,138,970 shares of the company’s stock worth $3,501,789,000 after purchasing an additional 2,464,618 shares during the last quarter. Northern Trust Corp raised its stake in shares of Coca-Cola by 4.8% during the 3rd quarter. Northern Trust Corp now owns 44,913,068 shares of the company’s stock worth $2,514,234,000 after purchasing an additional 2,040,664 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Coca-Cola by 8.2% during the 3rd quarter. Invesco Ltd. now owns 25,845,340 shares of the company’s stock valued at $1,446,822,000 after buying an additional 1,963,963 shares during the last quarter. Finally, California Public Employees Retirement System increased its holdings in Coca-Cola by 16.4% in the fourth quarter. California Public Employees Retirement System now owns 13,804,908 shares of the company’s stock worth $813,523,000 after buying an additional 1,949,500 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Activity

In other news, CEO James Quincey sold 247,188 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total value of $15,063,636.72. Following the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $26,968,753.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Beatriz R. Perez sold 57,298 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $61.99, for a total value of $3,551,903.02. Following the sale, the executive vice president now directly owns 167,107 shares in the company, valued at approximately $10,358,962.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James Quincey sold 247,188 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $26,968,753.24. The disclosure for this sale can be found here. Insiders have sold 380,405 shares of company stock valued at $23,209,645 over the last 90 days. 0.97% of the stock is owned by company insiders.

Coca-Cola Price Performance

Shares of NYSE:KO traded up $0.03 during trading on Thursday, reaching $62.88. The stock had a trading volume of 8,921,842 shares, compared to its average volume of 13,826,118. The business’s 50-day moving average price is $60.37 and its 200 day moving average price is $59.33. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.04 and a quick ratio of 0.86. The Coca-Cola Company has a 52 week low of $51.55 and a 52 week high of $64.25. The stock has a market capitalization of $270.88 billion, a PE ratio of 25.15, a P/E/G ratio of 3.53 and a beta of 0.57.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.02. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The business had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $11.01 billion. During the same quarter in the prior year, the company earned $0.68 EPS. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, equities analysts predict that The Coca-Cola Company will post 2.82 earnings per share for the current year.

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a $0.485 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.94 annualized dividend and a dividend yield of 3.09%. Coca-Cola’s dividend payout ratio (DPR) is currently 77.60%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on KO shares. Citigroup upped their price target on Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Evercore ISI raised their price target on Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. UBS Group boosted their price objective on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Barclays upped their price target on Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Coca-Cola presently has an average rating of “Moderate Buy” and a consensus price target of $68.27.

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.