Susquehanna Fundamental Investments LLC Makes New Investment in The Coca-Cola Company (NYSE:KO)

Susquehanna Fundamental Investments LLC acquired a new stake in The Coca-Cola Company (NYSE:KO) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 653,486 shares of the company’s stock, valued at approximately $40,686,000. Coca-Cola comprises 0.6% of Susquehanna Fundamental Investments LLC’s holdings, making the stock its 11th largest position.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank purchased a new stake in Coca-Cola in the 4th quarter worth approximately $3,402,151,000. Capital International Investors boosted its holdings in shares of Coca-Cola by 96.0% during the fourth quarter. Capital International Investors now owns 24,949,194 shares of the company’s stock worth $1,553,337,000 after purchasing an additional 12,222,885 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Coca-Cola by 18.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company’s stock valued at $4,617,400,000 after purchasing an additional 11,569,920 shares during the period. Raymond James Financial Inc. acquired a new position in Coca-Cola in the fourth quarter valued at $500,192,000. Finally, Franklin Resources Inc. increased its stake in 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 during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Activity

In related news, EVP Lisa Chang sold 13,445 shares of the company’s 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 of the company’s stock, valued at $6,769,334. This represents a 12.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Bruno Pietracci sold 19,058 shares of the business’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. In the last three months, insiders sold 313,423 shares of company stock worth $22,263,071. 0.97% of the stock is currently owned by insiders.

Coca-Cola Price Performance

Shares of KO stock opened at $71.96 on Friday. The Coca-Cola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The company has a market capitalization of $309.68 billion, a PE ratio of 29.13, a price-to-earnings-growth ratio of 3.79 and a beta of 0.45. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The firm has a fifty day simple moving average of $70.78 and a 200-day simple moving average of $66.52.

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 return on equity of 45.37% and a net margin of 22.59%. Equities 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 firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.83%. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date was Friday, March 14th. Coca-Cola’s dividend payout ratio is presently 82.59%.

Analysts Set New Price Targets

KO has been the subject of several recent analyst reports. Jefferies Financial Group upgraded Coca-Cola from a “hold” rating to a “buy” rating and lifted their price target for the company from $69.00 to $75.00 in a report on Thursday, January 30th. Wells Fargo & Company boosted their target price on shares of Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. UBS Group lifted their price target on shares of Coca-Cola from $78.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, April 17th. Royal Bank of Canada reissued an “outperform” rating and set a $69.00 price objective on shares of Coca-Cola in a research note on Thursday, February 6th. Finally, DZ Bank raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $75.06.

About Coca-Cola

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.