Schroder Investment Management Group Sells 2,092,922 Shares of The Coca-Cola Company (NYSE:KO)

Schroder Investment Management Group decreased its position in shares of The Coca-Cola Company (NYSE:KO) by 19.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,412,111 shares of the company’s stock after selling 2,092,922 shares during the quarter. Schroder Investment Management Group owned 0.20% of Coca-Cola worth $523,738,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in KO. Geode Capital Management LLC boosted its stake in 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 buying an additional 2,966,964 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 worth $4,617,400,000 after acquiring an additional 11,569,920 shares during the last quarter. Norges Bank bought a new stake in shares of Coca-Cola during the 4th quarter valued at approximately $3,402,151,000. Wellington Management Group LLP increased its position in Coca-Cola by 14.5% during the 3rd quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock worth $2,271,885,000 after purchasing an additional 4,013,996 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in Coca-Cola by 6.1% in the 3rd quarter. Franklin Resources Inc. now owns 27,984,953 shares of the company’s stock valued at $1,990,407,000 after purchasing an additional 1,609,565 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Stock Down 0.5 %

Shares of NYSE:KO opened at $70.36 on Friday. The business’s 50-day moving average is $67.77 and its 200-day moving average is $66.41. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53. The company has a market capitalization of $302.80 billion, a price-to-earnings ratio of 28.49, a P/E/G ratio of 3.79 and a beta of 0.57. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84.

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, 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%. Equities research analysts predict that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders 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 2.90%. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date is Friday, March 14th. Coca-Cola’s dividend payout ratio (DPR) is presently 82.59%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on KO shares. Royal Bank of Canada reiterated an “outperform” rating and set a $69.00 price target on shares of Coca-Cola in a report on Thursday, February 6th. Piper Sandler increased their target price on Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Barclays boosted their price target on Coca-Cola from $66.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Wednesday, January 8th. Finally, Wells Fargo & Company lifted their target price on shares of Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $74.24.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, insider Nikolaos Koumettis sold 54,708 shares of the firm’s 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 completion of the sale, the insider now owns 246,909 shares of the company’s stock, valued at approximately $17,520,662.64. This trade represents a 18.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO James Quincey sold 145,435 shares of the business’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 represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 313,423 shares of company stock valued at $22,263,071. Corporate 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.