Shell Asset Management Co. Has $3.85 Million Stake in The Coca-Cola Company (NYSE:KO)

Shell Asset Management Co. trimmed its holdings in The Coca-Cola Company (NYSE:KOFree Report) by 7.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 61,801 shares of the company’s stock after selling 5,310 shares during the period. Shell Asset Management Co.’s holdings in Coca-Cola were worth $3,848,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Rafferty Asset Management LLC grew its stake in Coca-Cola by 12.4% in the fourth quarter. Rafferty Asset Management LLC now owns 336,524 shares of the company’s stock valued at $20,952,000 after acquiring an additional 37,126 shares during the period. Raiffeisen Bank International AG acquired a new position in Coca-Cola in the fourth quarter valued at about $2,810,000. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of Coca-Cola by 97.9% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 46,968 shares of the company’s stock valued at $2,924,000 after purchasing an additional 23,230 shares in the last quarter. Point72 Europe London LLP bought a new stake in shares of Coca-Cola in the fourth quarter valued at about $107,006,000. Finally, Polar Asset Management Partners Inc. bought a new stake in shares of Coca-Cola in the fourth quarter valued at about $53,793,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Stock Up 3.4%

KO stock opened at $71.50 on Friday. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. The stock has a market capitalization of $307.76 billion, a price-to-earnings ratio of 28.95, a PEG ratio of 3.79 and a beta of 0.47. The business’s fifty day moving average price is $70.86 and its two-hundred day moving average price is $66.72. The Coca-Cola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38.

Coca-Cola (NYSE:KOGet Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.02. The firm had revenue of $11.13 billion for the quarter, compared to analysts’ expectations of $11.23 billion. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The company’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter last year, the business earned $0.72 EPS. On average, equities analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.85%. The ex-dividend date is Friday, June 13th. Coca-Cola’s dividend payout ratio (DPR) is presently 81.60%.

Insider Activity at Coca-Cola

In other news, CEO James Quincey sold 145,435 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total transaction of $10,327,339.35. Following the completion of the transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at $24,324,191.46. This trade represents a 29.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO John Murphy sold 88,658 shares of Coca-Cola stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total value of $6,391,355.22. Following the completion of the sale, the chief financial officer now owns 205,511 shares of the company’s stock, valued at approximately $14,815,287.99. The trade was a 30.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 462,407 shares of company stock valued at $32,990,056 over the last ninety days. 0.97% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on KO shares. Wells Fargo & Company boosted their price target on Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Barclays restated an “overweight” rating on shares of Coca-Cola in a report on Thursday, March 27th. Morgan Stanley boosted their price target on Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Cfra Research upgraded Coca-Cola to a “strong-buy” rating in a report on Tuesday, April 15th. Finally, Piper Sandler raised their price target on Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $75.59.

Get Our Latest Analysis on Coca-Cola

About Coca-Cola

(Free Report)

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.

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Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

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