The Coca-Cola Company (NYSE:KO) Shares Sold by Syon Capital LLC

Syon Capital LLC lowered its holdings in The Coca-Cola Company (NYSE:KO) by 22.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 35,436 shares of the company’s stock after selling 10,058 shares during the quarter. Syon Capital LLC’s holdings in Coca-Cola were worth $2,206,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its stake in shares of Coca-Cola by 18.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company’s stock worth $4,617,400,000 after buying an additional 11,569,920 shares during the last quarter. Norges Bank acquired a new position in Coca-Cola during the fourth quarter worth about $3,402,151,000. Franklin Resources Inc. lifted its holdings in shares of Coca-Cola by 21.9% in the fourth quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company’s stock valued at $2,123,301,000 after purchasing an additional 6,118,819 shares in the last quarter. Capital International Investors grew its position in shares of Coca-Cola by 96.0% in the fourth quarter. Capital International Investors now owns 24,949,194 shares of the company’s stock valued at $1,553,337,000 after purchasing an additional 12,222,885 shares during the last quarter. Finally, Invesco Ltd. increased its stake in shares of Coca-Cola by 18.2% during the 4th quarter. Invesco Ltd. now owns 24,566,933 shares of the company’s stock worth $1,529,537,000 after purchasing an additional 3,791,300 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on KO. Cfra Research raised Coca-Cola to a “strong-buy” rating in a research report on Tuesday, April 15th. Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 price objective on shares of Coca-Cola in a research report on Thursday, February 6th. Piper Sandler raised their target price 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. DZ Bank raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Thursday, February 13th. Finally, Jefferies Financial Group raised Coca-Cola from a “hold” rating to a “buy” rating and lifted their price objective for the company from $69.00 to $75.00 in a research report on Thursday, January 30th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Coca-Cola currently has a consensus rating of “Buy” and a consensus target price of $75.06.

Insider Activity at Coca-Cola

In related news, insider Nikolaos Koumettis sold 54,708 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $70.96, for a total transaction of $3,882,079.68. Following the completion of the sale, the insider now owns 246,909 shares of the company’s stock, valued at $17,520,662.64. This represents a 18.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Bruno Pietracci sold 19,058 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $70.56, for a total transaction of $1,344,732.48. The disclosure for this sale can be found here. Insiders have sold 313,423 shares of company stock valued at $22,263,071 over the last ninety days. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Stock Up 1.6 %

NYSE KO opened at $73.92 on Wednesday. The stock has a market cap of $318.12 billion, a PE ratio of 29.93, a P/E/G ratio of 3.79 and a beta of 0.45. The business has a 50 day moving average price of $70.56 and a two-hundred day moving average price of $66.43. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The Coca-Cola Company has a fifty-two week low of $59.84 and a fifty-two week high of $74.38.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 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%. As a group, sell-side analysts predict that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a dividend of $0.51 per share. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend was Friday, March 14th. Coca-Cola’s dividend payout ratio is 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.