Premier Fund Managers Ltd Buys 11,025 Shares of The Coca-Cola Company (NYSE:KO)

Premier Fund Managers Ltd increased its holdings in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 72.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 26,171 shares of the company's stock after purchasing an additional 11,025 shares during the quarter. Premier Fund Managers Ltd's holdings in Coca-Cola were worth $1,624,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Geode Capital Management LLC raised its holdings in shares of Coca-Cola by 3.3% in the third quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company's stock valued at $6,664,005,000 after purchasing an additional 2,966,964 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in 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 purchasing an additional 11,569,920 shares in the last quarter. Norges Bank acquired a new stake in Coca-Cola in the 4th quarter valued at $3,402,151,000. Wellington Management Group LLP increased its stake in 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 buying an additional 4,013,996 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in Coca-Cola by 6.1% during the 3rd quarter. Franklin Resources Inc. now owns 27,984,953 shares of the company's stock worth $1,990,407,000 after buying an additional 1,609,565 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

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Coca-Cola Price Performance

Shares of NYSE:KO traded up $0.98 during trading on Monday, reaching $71.35. 8,455,854 shares of the company traded hands, compared to its average volume of 17,939,545. 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 Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53. The firm has a market capitalization of $307.04 billion, a PE ratio of 28.88, a PEG ratio of 3.79 and a beta of 0.57. The company's 50 day moving average is $67.77 and its two-hundred day moving average is $66.38.

Coca-Cola (NYSE:KO - Get Free Report) last issued its quarterly earnings results 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 return on equity of 45.37% and a net margin of 22.59%. As a group, sell-side analysts predict that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors 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 2.86%. The ex-dividend date is Friday, March 14th. This is a positive change from Coca-Cola's previous quarterly dividend of $0.49. Coca-Cola's dividend payout ratio (DPR) is 82.59%.

Analyst Ratings Changes

KO has been the topic of several recent analyst reports. Piper Sandler boosted 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. Wells Fargo & Company boosted their target price on shares of Coca-Cola from $70.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a "hold" rating to a "buy" rating and increased their price target for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. TD Cowen upgraded shares of 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. Finally, JPMorgan Chase & Co. cut their target price on shares of Coca-Cola from $75.00 to $70.00 and set an "overweight" rating for the company in a research note on Tuesday, January 28th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $74.24.

Insider Buying and Selling

In related news, COO Henrique Braun sold 25,277 shares of Coca-Cola stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $71.47, for a total value of $1,806,547.19. Following the transaction, the chief operating officer now directly owns 52,466 shares of the company's stock, valued at $3,749,745.02. The trade was a 32.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bruno Pietracci sold 19,058 shares of the company's stock in a transaction that occurred on Monday, February 24th. The shares were 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. Insiders have sold a total of 313,423 shares of company stock worth $22,263,071 in the last ninety days. Company insiders own 0.97% of the company's stock.

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.