Pinebridge Investments L.P. Grows Stock Holdings in The Coca-Cola Company (NYSE:KO)

Pinebridge Investments L.P. grew its position in The Coca-Cola Company (NYSE:KO - Free Report) by 12.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 381,950 shares of the company's stock after purchasing an additional 41,924 shares during the quarter. Pinebridge Investments L.P.'s holdings in Coca-Cola were worth $23,780,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in Coca-Cola in the 4th quarter worth $3,402,151,000. Capital International Investors boosted its position in shares of Coca-Cola by 96.0% during the 4th quarter. Capital International Investors now owns 24,949,194 shares of the company's stock worth $1,553,337,000 after purchasing an additional 12,222,885 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Coca-Cola by 18.5% in 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 acquiring an additional 11,569,920 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Coca-Cola in the fourth quarter valued at approximately $500,192,000. Finally, Franklin Resources Inc. raised its stake in Coca-Cola by 21.9% during the 4th quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company's stock worth $2,123,301,000 after acquiring an additional 6,118,819 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company's stock.

Coca-Cola Trading Down 0.8 %

Coca-Cola stock opened at $73.32 on Thursday. The company has a market cap of $315.52 billion, a P/E ratio of 29.68, a PEG ratio of 3.79 and a beta of 0.45. The firm's 50-day moving average is $70.65 and its 200-day moving average is $66.47. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The Coca-Cola Company has a 1 year low of $59.84 and a 1 year high of $74.38.

Coca-Cola (NYSE:KO - Get Free Report) last posted its quarterly earnings results 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 net margin of 22.59% and a return on equity of 45.37%. On average, equities analysts expect that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.78%. This is a boost from Coca-Cola's previous quarterly dividend of $0.49. The ex-dividend date was Friday, March 14th. Coca-Cola's dividend payout ratio is 82.59%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on KO. Piper Sandler increased their target price on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. TD Cowen raised Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 target price for the company in a research note on Wednesday, January 8th. Jefferies Financial Group raised Coca-Cola from a "hold" rating to a "buy" rating and upped their price objective for the stock from $69.00 to $75.00 in a report on Thursday, January 30th. DZ Bank raised 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 note on Thursday, February 13th. Finally, Morgan Stanley boosted their price objective on shares of Coca-Cola from $76.00 to $78.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $75.06.

Insider Transactions at Coca-Cola

In related news, COO Henrique Braun sold 25,277 shares of the firm's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $71.47, for a total transaction of $1,806,547.19. Following the sale, the chief operating officer now directly owns 52,466 shares in the company, valued at $3,749,745.02. This trade represents a 32.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Lisa Chang sold 13,445 shares of Coca-Cola stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $71.50, for a total transaction of $961,317.50. Following the completion of the sale, the executive vice president now owns 94,676 shares in the company, valued at $6,769,334. This trade represents a 12.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 313,423 shares of company stock valued at $22,263,071. 0.97% of the stock is 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.

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