Generali Asset Management SPA SGR Makes New Investment in The Coca-Cola Company (NYSE:KO)

Generali Asset Management SPA SGR bought a new stake in The Coca-Cola Company (NYSE:KOFree Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 255,178 shares of the company’s stock, valued at approximately $15,887,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Mainstream Capital Management LLC bought a new position in Coca-Cola during the fourth quarter worth about $31,000. Retirement Wealth Solutions LLC acquired a new position in shares of Coca-Cola during the 4th quarter worth approximately $37,000. MilWealth Group LLC bought a new position in shares of Coca-Cola during the 4th quarter worth approximately $40,000. MidAtlantic Capital Management Inc. bought a new position in shares of Coca-Cola during the 3rd quarter worth approximately $43,000. Finally, Sugar Maple Asset Management LLC bought a new stake in Coca-Cola in the 4th quarter valued at $43,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Trading Up 1.4 %

KO stock opened at $70.15 on Tuesday. The Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.53. 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 company’s 50-day simple moving average is $66.37 and its 200-day simple moving average is $66.53. The firm has a market cap of $301.70 billion, a P/E ratio of 28.40, a PEG ratio of 3.79 and a beta of 0.57.

Coca-Cola (NYSE:KOGet Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share 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%. As a group, equities analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a dividend of $0.51 per share. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a yield of 2.91%. The ex-dividend date is Friday, March 14th. Coca-Cola’s dividend payout ratio is currently 82.59%.

Insiders Place Their Bets

In related news, insider Bruno Pietracci sold 19,058 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $70.56, for a total transaction of $1,344,732.48. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Nikolaos Koumettis sold 54,708 shares of Coca-Cola stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $70.96, for a total value of $3,882,079.68. Following the sale, the insider now owns 246,909 shares in the company, valued at $17,520,662.64. This represents a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 313,423 shares of company stock worth $22,263,071. 0.97% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

KO has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. cut their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. DZ Bank upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Thursday, February 13th. Jefferies Financial Group upgraded Coca-Cola from a “hold” rating to a “buy” rating and upped their target price for the company from $69.00 to $75.00 in a research report on Thursday, January 30th. Piper Sandler increased their price target on Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Finally, Barclays increased their price objective on Coca-Cola from $66.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $74.24.

View Our Latest Stock Analysis on KO

About Coca-Cola

(Free Report)

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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Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

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