MGO One Seven LLC Boosts Position in The Coca-Cola Company (NYSE:KO)

MGO One Seven LLC lifted its position in The Coca-Cola Company (NYSE:KO) by 11.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,602 shares of the company’s stock after buying an additional 5,700 shares during the quarter. MGO One Seven LLC’s holdings in Coca-Cola were worth $3,400,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new position in Coca-Cola in the 4th quarter worth about $3,402,151,000. Capital International Investors raised its stake in 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 in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Coca-Cola by 18.5% during 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 last quarter. Raymond James Financial Inc. purchased a new position in Coca-Cola in the 4th quarter worth approximately $500,192,000. Finally, Franklin Resources Inc. increased its holdings in shares of Coca-Cola by 21.9% in the 4th quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company’s stock worth $2,123,301,000 after buying an additional 6,118,819 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Nikolaos Koumettis sold 54,708 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $70.96, for a total transaction of $3,882,079.68. Following the transaction, the insider now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Bruno Pietracci sold 19,058 shares of Coca-Cola stock in a transaction on Monday, February 24th. The stock was sold at an average price of $70.56, for a total value of $1,344,732.48. The disclosure for this sale can be found here. Insiders have sold a total of 313,423 shares of company stock valued at $22,263,071 over the last ninety days. 0.97% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Morgan Stanley increased their target price on Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. UBS Group lifted their price target on shares of Coca-Cola from $78.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, April 17th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $69.00 price objective on shares of Coca-Cola in a research note on Thursday, February 6th. 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 report on Wednesday, February 12th. Finally, Cfra Research upgraded Coca-Cola to a “strong-buy” rating in a report on Tuesday, April 15th. Two 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. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $75.06.

Coca-Cola Trading Down 0.8 %

NYSE KO opened at $73.32 on Thursday. The Coca-Cola Company has a twelve month low of $59.84 and a twelve month high of $74.38. The firm has a market capitalization of $315.52 billion, a PE ratio of 29.68, a P/E/G ratio of 3.79 and a beta of 0.45. The stock’s 50 day moving average is $70.65 and its 200 day moving average is $66.47. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share 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%. Research analysts forecast 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 declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a $0.51 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.04 annualized dividend and a dividend yield of 2.78%. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s payout ratio is currently 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.