The Coca-Cola Company (NYSE:KO) Shares Acquired by Scotia Capital Inc.

Scotia Capital Inc. raised its stake in The Coca-Cola Company (NYSE:KO - Free Report) by 9.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 541,707 shares of the company's stock after buying an additional 46,325 shares during the period. Scotia Capital Inc.'s holdings in Coca-Cola were worth $33,732,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Coca-Cola by 18.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company's stock worth $4,617,400,000 after purchasing an additional 11,569,920 shares during the last quarter. Norges Bank bought a new position in Coca-Cola in the fourth quarter worth about $3,402,151,000. Franklin Resources Inc. boosted its holdings in shares of Coca-Cola by 21.9% in the 4th quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company's stock valued at $2,123,301,000 after buying an additional 6,118,819 shares in the last quarter. Invesco Ltd. grew its position in shares of Coca-Cola by 18.2% in the 4th quarter. Invesco Ltd. now owns 24,566,933 shares of the company's stock worth $1,529,537,000 after buying an additional 3,791,300 shares during the last quarter. Finally, Amundi raised its stake in shares of Coca-Cola by 3.1% during the 4th quarter. Amundi now owns 18,313,696 shares of the company's stock worth $1,130,138,000 after acquiring an additional 550,582 shares in the last quarter. Institutional investors own 70.26% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on KO. 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 note on Friday, February 28th. Jefferies Financial Group upgraded Coca-Cola from a "hold" rating to a "buy" rating and boosted their price target for the company from $69.00 to $75.00 in a research note on Thursday, January 30th. Morgan Stanley lifted their target price on Coca-Cola from $76.00 to $78.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Evercore ISI upped their target price on Coca-Cola from $72.00 to $75.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Finally, Wells Fargo & Company lifted their price objective on Coca-Cola from $70.00 to $75.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Coca-Cola has an average rating of "Moderate Buy" and an average price target of $74.24.

Coca-Cola Trading Up 0.7 %

NYSE KO traded up $0.48 during mid-day trading on Monday, reaching $71.91. 4,651,741 shares of the stock were exchanged, compared to its average volume of 15,303,402. The stock has a market capitalization of $309.47 billion, a PE ratio of 29.11, a PEG ratio of 3.79 and a beta of 0.45. 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 $57.93 and a 1-year high of $73.95. The business's fifty day simple moving average is $69.60 and its 200 day simple moving average is $66.32.

Coca-Cola (NYSE:KO - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate 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, research analysts anticipate 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 was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were paid a dividend of $0.51 per share. This is an increase from Coca-Cola's previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend was Friday, March 14th. Coca-Cola's payout ratio is currently 82.59%.

Insider Transactions at Coca-Cola

In other Coca-Cola news, insider Bruno Pietracci sold 19,058 shares of the company's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $70.56, for a total value of $1,344,732.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James Quincey sold 145,435 shares of the firm's stock in a transaction that occurred on 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 sale, the chief executive officer now owns 342,546 shares of the company's stock, valued at approximately $24,324,191.46. This trade represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 313,423 shares of company stock valued at $22,263,071 over the last 90 days. Corporate insiders own 0.97% of the company's stock.

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.