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:KO) 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:KO) 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.

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.