Amiral Gestion Makes New Investment in The Coca-Cola Company (NYSE:KO)

Amiral Gestion acquired a new position in shares of The Coca-Cola Company (NYSE:KO) during the 4th quarter, Holdings Channel reports. The firm acquired 140,158 shares of the company’s stock, valued at approximately $8,726,000. Coca-Cola accounts for about 5.5% of Amiral Gestion’s investment portfolio, making the stock its 6th biggest position.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Voleon Capital Management LP bought a new stake in shares of Coca-Cola in the 4th quarter valued at approximately $2,513,000. Rice Partnership LLC increased its holdings in shares of Coca-Cola by 7.1% in the 4th quarter. Rice Partnership LLC now owns 102,746 shares of the company’s stock valued at $6,397,000 after acquiring an additional 6,793 shares during the last quarter. Newbridge Financial Services Group Inc. increased its holdings in shares of Coca-Cola by 62.2% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 26,708 shares of the company’s stock valued at $1,663,000 after acquiring an additional 10,240 shares during the last quarter. Lockheed Martin Investment Management Co. increased its holdings in shares of Coca-Cola by 16.3% in the 4th quarter. Lockheed Martin Investment Management Co. now owns 218,985 shares of the company’s stock valued at $13,634,000 after acquiring an additional 30,650 shares during the last quarter. Finally, abrdn plc increased its holdings in shares of Coca-Cola by 0.3% in the 4th quarter. abrdn plc now owns 7,238,640 shares of the company’s stock valued at $447,963,000 after acquiring an additional 22,904 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Stock Up 0.9%

Shares of Coca-Cola stock opened at $71.81 on Friday. The stock’s fifty day moving average is $71.09 and its 200-day moving average is $66.98. The firm has a market capitalization of $309.09 billion, a PE ratio of 29.07, a price-to-earnings-growth ratio of 3.79 and a beta of 0.47. 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 Coca-Cola Company has a 12-month low of $60.62 and a 12-month high of $74.38.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. The company had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.23 billion. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. Coca-Cola’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.72 earnings per share. Equities analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date is Friday, June 13th. Coca-Cola’s dividend payout ratio (DPR) is presently 81.60%.

Insider Transactions at Coca-Cola

In related news, insider Nikolaos Koumettis sold 54,708 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $70.96, for a total transaction of $3,882,079.68. Following the transaction, the insider now directly owns 246,909 shares of the company’s stock, valued at approximately $17,520,662.64. The trade was a 18.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bruno Pietracci sold 19,058 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $70.56, for a total value of $1,344,732.48. The disclosure for this sale can be found here. Insiders have sold 462,407 shares of company stock valued at $32,990,056 over the last three months. Company insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. UBS Group boosted their price objective on Coca-Cola from $84.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, April 30th. Cfra Research upgraded Coca-Cola to a “strong-buy” rating in a research report on Tuesday, April 15th. Morgan Stanley boosted their price objective on Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Piper Sandler boosted their price objective on Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Finally, Jefferies Financial Group upgraded Coca-Cola from a “hold” rating to a “buy” rating and boosted their price objective for the company from $69.00 to $75.00 in a research report on Thursday, January 30th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Coca-Cola currently has a consensus rating of “Buy” and an average target price of $75.81.

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.