Point72 Asset Management L.P. Purchases 2,059,451 Shares of The Coca-Cola Company (NYSE:KO)

Point72 Asset Management L.P. grew its position in shares of The Coca-Cola Company (NYSE:KOFree Report) by 326.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,689,453 shares of the company’s stock after buying an additional 2,059,451 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.06% of Coca-Cola worth $158,489,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of KO. WealthPlan Investment Management LLC boosted its stake in Coca-Cola by 8.5% in the third quarter. WealthPlan Investment Management LLC now owns 6,754 shares of the company’s stock valued at $378,000 after acquiring an additional 531 shares during the last quarter. Hunter Associates Investment Management LLC boosted its stake in Coca-Cola by 3.5% in the third quarter. Hunter Associates Investment Management LLC now owns 16,365 shares of the company’s stock valued at $917,000 after acquiring an additional 556 shares during the last quarter. Waters Parkerson & CO. LLC boosted its stake in Coca-Cola by 3.2% in the third quarter. Waters Parkerson & CO. LLC now owns 215,500 shares of the company’s stock valued at $12,064,000 after acquiring an additional 6,609 shares during the last quarter. Valley Wealth Managers Inc. boosted its stake in Coca-Cola by 4,217.0% in the third quarter. Valley Wealth Managers Inc. now owns 69,072 shares of the company’s stock valued at $3,867,000 after acquiring an additional 67,472 shares during the last quarter. Finally, Navellier & Associates Inc. boosted its stake in Coca-Cola by 72.5% in the third quarter. Navellier & Associates Inc. now owns 14,505 shares of the company’s stock valued at $812,000 after acquiring an additional 6,095 shares during the last quarter. 70.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Evercore ISI increased their target price on shares of Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Argus increased their target price on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. Morgan Stanley increased their target price on shares of Coca-Cola from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday. Finally, UBS Group increased their target price on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $68.55.

View Our Latest Research Report on KO

Coca-Cola Stock Down 0.0 %

Shares of NYSE:KO traded down $0.02 during midday trading on Tuesday, reaching $63.57. 8,394,177 shares of the company were exchanged, compared to its average volume of 13,199,891. The company has a quick ratio of 0.86, a current ratio of 1.04 and a debt-to-equity ratio of 1.26. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $64.36. The stock has a fifty day simple moving average of $61.66 and a two-hundred day simple moving average of $60.38. The firm has a market cap of $273.86 billion, a PE ratio of 25.43, a P/E/G ratio of 3.61 and a beta of 0.59.

Coca-Cola (NYSE:KOGet Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.02. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The firm had revenue of $11.30 billion for the quarter, compared to analyst estimates of $11.01 billion. During the same period in the previous year, the business earned $0.68 EPS. The company’s revenue was up 2.7% compared to the same quarter last year. As a group, sell-side analysts forecast that The Coca-Cola Company will post 2.82 earnings per share for the current year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $0.485 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.94 annualized dividend and a yield of 3.05%. Coca-Cola’s payout ratio is currently 77.60%.

Insider Buying and Selling at Coca-Cola

In other news, EVP Beatriz R. Perez sold 57,298 shares of Coca-Cola stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $61.99, for a total value of $3,551,903.02. Following the completion of the transaction, the executive vice president now owns 167,107 shares of the company’s stock, valued at approximately $10,358,962.93. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Beatriz R. Perez sold 57,298 shares of Coca-Cola stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the completion of the sale, the executive vice president now owns 167,107 shares of the company’s stock, valued at approximately $10,358,962.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Nancy Quan sold 57,368 shares of Coca-Cola stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total transaction of $3,491,990.16. Following the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $13,594,097.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 180,838 shares of company stock worth $11,220,064. Insiders own 0.97% of the company’s stock.

Coca-Cola Profile

(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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