Candriam S.C.A. Has $30.20 Million Holdings in The Coca-Cola Company (NYSE:KO)

Candriam S.C.A. boosted its stake in The Coca-Cola Company (NYSE:KO) by 1.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 485,003 shares of the company’s stock after purchasing an additional 6,380 shares during the quarter. Candriam S.C.A.’s holdings in Coca-Cola were worth $30,196,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mainstream Capital Management LLC acquired a new position in Coca-Cola during the fourth quarter worth about $31,000. Hara Capital LLC acquired a new position in Coca-Cola during the third quarter worth about $35,000. Retirement Wealth Solutions LLC acquired a new position in Coca-Cola during the fourth quarter worth about $37,000. MilWealth Group LLC acquired a new position in Coca-Cola during the fourth quarter worth about $40,000. Finally, MidAtlantic Capital Management Inc. acquired a new position in shares of Coca-Cola in the third quarter valued at approximately $43,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Stock Down 0.0 %

Shares of KO stock opened at $70.17 on Thursday. The firm has a market capitalization of $301.78 billion, a PE ratio of 28.41, a P/E/G ratio of 3.79 and a beta of 0.61. The Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53. The stock’s 50-day simple moving average is $65.02 and its 200-day simple moving average is $66.55. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03.

Coca-Cola (NYSE:KO) last issued 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 return on equity of 45.37% and a net margin of 22.59%. Equities analysts expect that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Increases Dividend

The company 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. The ex-dividend date is Friday, March 14th. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.91%. Coca-Cola’s dividend payout ratio is currently 82.59%.

Insider Buying and Selling at Coca-Cola

In related news, EVP Lisa Chang sold 13,445 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $71.50, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO James Quincey sold 145,435 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were 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 of the company’s stock, valued at $24,324,191.46. This trade represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 232,646 shares of company stock valued at $16,515,469. Insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on KO. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and upped their price objective for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. JPMorgan Chase & Co. cut their price target on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Wednesday, January 8th. Morgan Stanley increased their price target on Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Finally, Piper Sandler increased their price target on Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Coca-Cola presently has a consensus rating of “Moderate Buy” and a consensus price target 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.