OFI Invest Asset Management Buys Shares of 521,837 The Coca-Cola Company (NYSE:KO)

OFI Invest Asset Management acquired a new stake in The Coca-Cola Company (NYSE:KO - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 521,837 shares of the company's stock, valued at approximately $31,376,000.

A number of other institutional investors have also made changes to their positions in the stock. FMR LLC raised its stake in shares of Coca-Cola by 13.7% in the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company's stock valued at $6,680,205,000 after acquiring an additional 11,206,995 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Coca-Cola by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company's stock valued at $6,664,005,000 after acquiring an additional 2,966,964 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Coca-Cola by 18.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company's stock valued at $4,617,400,000 after acquiring an additional 11,569,920 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Coca-Cola by 14.5% in the 3rd quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company's stock valued at $2,271,885,000 after acquiring an additional 4,013,996 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Coca-Cola by 6.1% in the 3rd quarter. Franklin Resources Inc. now owns 27,984,953 shares of the company's stock valued at $1,990,407,000 after acquiring an additional 1,609,565 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

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Wall Street Analyst Weigh In

KO has been the topic of a number of recent analyst reports. TD Cowen raised Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price objective on the stock in a research note on Wednesday, January 8th. Evercore ISI lifted their price target on Coca-Cola from $72.00 to $75.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. Piper Sandler lifted their price target on Coca-Cola from $73.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. Jefferies Financial Group raised Coca-Cola from a "hold" rating to a "buy" rating and lifted their price target for the stock from $69.00 to $75.00 in a research report on Thursday, January 30th. Finally, UBS Group lifted their price target on Coca-Cola from $72.00 to $78.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $74.24.

Coca-Cola Price Performance

KO stock traded up $1.06 during trading on Friday, hitting $71.52. The company had a trading volume of 28,389,711 shares, compared to its average volume of 17,970,895. The company has a fifty day moving average price of $65.36 and a two-hundred day moving average price of $66.56. 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 company has a market cap of $307.60 billion, a P/E ratio of 28.96, a P/E/G ratio of 3.79 and a beta of 0.57. The Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53.

Coca-Cola (NYSE:KO - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 EPS 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%. Equities research analysts expect 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 disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $0.51 dividend. This is an increase from Coca-Cola's previous quarterly dividend of $0.49. The ex-dividend date is Friday, March 14th. This represents a $2.04 annualized dividend and a yield of 2.85%. Coca-Cola's payout ratio is presently 82.59%.

Insider Buying and Selling at Coca-Cola

In other news, CEO James Quincey sold 145,435 shares of the business's stock in a transaction on 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 sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Bruno Pietracci sold 19,058 shares of the business's 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. In the last quarter, insiders sold 232,646 shares of company stock worth $16,515,469. 0.97% of the stock is currently owned by insiders.

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.