USA Financial Formulas Makes New Investment in The Coca-Cola Company (NYSE:KO)

USA Financial Formulas purchased a new position in shares of The Coca-Cola Company (NYSE:KO) in the 1st quarter, Holdings Channel.com reports. The fund purchased 3,659 shares of the company’s stock, valued at approximately $262,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its position 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 buying an additional 11,569,920 shares during the period. Norges Bank purchased a new stake in shares of Coca-Cola in the fourth quarter worth about $3,402,151,000. Northern Trust Corp boosted its position in shares of Coca-Cola by 9.5% in the fourth quarter. Northern Trust Corp now owns 43,802,296 shares of the company’s stock worth $2,727,131,000 after buying an additional 3,811,756 shares during the period. Franklin Resources Inc. boosted its position in shares of Coca-Cola by 21.9% in the fourth quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company’s stock worth $2,123,301,000 after buying an additional 6,118,819 shares during the period. Finally, Capital International Investors boosted its position in shares of Coca-Cola by 96.0% in the fourth quarter. Capital International Investors now owns 24,949,194 shares of the company’s stock worth $1,553,337,000 after buying an additional 12,222,885 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO James Quincey sold 266,403 shares of the firm’s stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $72.06, for a total value of $19,197,000.18. Following the sale, the chief executive officer now directly owns 275,946 shares in the company, valued at $19,884,668.76. This trade represents a 49.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Beatriz R. Perez sold 60,326 shares of the firm’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $71.87, for a total value of $4,335,629.62. Following the completion of the sale, the executive vice president now owns 187,716 shares in the company, valued at approximately $13,491,148.92. This represents a 24.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 415,387 shares of company stock valued at $29,923,985. Insiders own 0.97% of the company’s stock.

Coca-Cola Trading Down 0.4%

NYSE:KO opened at $72.03 on Thursday. 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 business’s 50 day moving average is $71.42 and its two-hundred day moving average is $67.74. The Coca-Cola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The company has a market cap of $310.02 billion, a PE ratio of 29.16, a P/E/G ratio of 3.79 and a beta of 0.46.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.02. The business had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.23 billion. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The business’s revenue was down .7% on a year-over-year basis. During the same quarter last year, the business posted $0.72 EPS. On average, analysts predict that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola’s dividend payout ratio (DPR) is 81.60%.

Wall Street Analyst Weigh In

KO has been the subject of several analyst reports. Piper Sandler upped their target price 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 upped their target price on Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Barclays reissued an “overweight” rating on shares of Coca-Cola in a report on Thursday, March 27th. DZ Bank raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a report on Thursday, February 13th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $81.00 price target on shares of Coca-Cola in a report on Monday. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Coca-Cola presently has a consensus rating of “Buy” and an average target price of $76.00.

Coca-Cola Company Profile

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.