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

Intech Investment Management LLC lifted its holdings in shares of The Coca-Cola Company (NYSE:KO) by 4.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 252,396 shares of the company’s stock after purchasing an additional 10,296 shares during the period. Intech Investment Management LLC’s holdings in Coca-Cola were worth $15,714,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of KO. Mainstream Capital Management LLC purchased a new position in shares of Coca-Cola during the 4th quarter worth approximately $31,000. Retirement Wealth Solutions LLC purchased a new position in shares of Coca-Cola during the 4th quarter worth approximately $37,000. MilWealth Group LLC purchased a new stake in Coca-Cola in the 4th quarter worth approximately $40,000. MidAtlantic Capital Management Inc. purchased a new stake in Coca-Cola in the 3rd quarter worth approximately $43,000. Finally, Sugar Maple Asset Management LLC purchased a new stake in Coca-Cola in the 4th quarter worth approximately $43,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. DZ Bank raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Thursday, February 13th. Evercore ISI lifted their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their target price for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. Royal Bank of Canada reiterated an “outperform” rating and issued a $69.00 price target on shares of Coca-Cola in a report on Thursday, February 6th. Finally, TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and an average price target of $74.24.

Insider Transactions at Coca-Cola

In related news, COO Henrique Braun sold 25,277 shares of the business’s stock in a transaction dated 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 sale, the chief operating officer now owns 52,466 shares of the company’s stock, valued at $3,749,745.02. This represents a 32.51 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lisa Chang sold 13,445 shares of the business’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 sale, the executive vice president now directly owns 94,676 shares of the company’s stock, valued at approximately $6,769,334. This represents a 12.44 % 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. Insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

Shares of KO stock opened at $70.15 on Tuesday. The company’s fifty day moving average price is $66.37 and its two-hundred day moving average price is $66.53. The firm has a market capitalization of $301.70 billion, a P/E ratio of 28.40, a P/E/G ratio of 3.79 and a beta of 0.57. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share 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, research analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $0.51 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.04 annualized dividend and a dividend yield of 2.91%. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s payout ratio is presently 82.59%.

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.