Meiji Yasuda Asset Management Co Ltd. Sells 6,546 Shares of The Coca-Cola Company (NYSE:KO)

Meiji Yasuda Asset Management Co Ltd. trimmed its holdings in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 1.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 342,042 shares of the company's stock after selling 6,546 shares during the quarter. Coca-Cola accounts for about 0.8% of Meiji Yasuda Asset Management Co Ltd.'s holdings, making the stock its 18th largest position. Meiji Yasuda Asset Management Co Ltd.'s holdings in Coca-Cola were worth $21,296,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its position in shares of 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 worth $4,617,400,000 after acquiring an additional 11,569,920 shares in the last quarter. FMR LLC grew its stake in Coca-Cola by 13.7% in the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company's stock worth $6,680,205,000 after buying an additional 11,206,995 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Coca-Cola in the fourth quarter worth $500,192,000. Wellington Management Group LLP raised its position in Coca-Cola by 14.5% during the third quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company's stock valued at $2,271,885,000 after purchasing an additional 4,013,996 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Coca-Cola by 3.3% during the third quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company's stock worth $6,664,005,000 after purchasing an additional 2,966,964 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

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Insider Buying and Selling at Coca-Cola

In related news, CEO James Quincey sold 145,435 shares of the company's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $71.01, for a total value of $10,327,339.35. Following the transaction, the chief executive officer now owns 342,546 shares in the company, valued at $24,324,191.46. The trade was a 29.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Bruno Pietracci sold 19,058 shares of Coca-Cola 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. Over the last quarter, insiders sold 313,423 shares of company stock valued at $22,263,071. Corporate insiders own 0.97% of the company's stock.

Coca-Cola Stock Up 0.8 %

Shares of NYSE:KO traded up $0.57 during trading on Thursday, hitting $70.59. The stock had a trading volume of 5,409,422 shares, compared to its average volume of 18,010,053. The company has a market capitalization of $303.79 billion, a PE ratio of 28.58, a PEG ratio of 3.79 and a beta of 0.57. 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 firm's fifty day moving average is $67.45 and its 200 day moving average is $66.43. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53.

Coca-Cola (NYSE:KO - Get Free Report) last posted its quarterly earnings data 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%. Analysts anticipate that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date is Friday, March 14th. This is a boost from Coca-Cola's previous quarterly dividend of $0.49. Coca-Cola's dividend payout ratio is 82.59%.

Analyst Ratings Changes

A number of brokerages have commented on KO. TD Cowen upgraded shares of Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price target on the stock in a research report on Wednesday, January 8th. Piper Sandler lifted 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. UBS Group upped their price target on shares of Coca-Cola from $72.00 to $78.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. Finally, Jefferies Financial Group upgraded Coca-Cola from a "hold" rating to a "buy" rating and increased their target price for the company from $69.00 to $75.00 in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $74.24.

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.