The Coca-Cola Company (NYSE:KO) Shares Purchased by BNP Paribas

BNP Paribas lifted its position in The Coca-Cola Company (NYSE:KO) by 11.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 585,486 shares of the company’s stock after acquiring an additional 60,642 shares during the quarter. Coca-Cola accounts for approximately 1.5% of BNP Paribas’ holdings, making the stock its 19th largest position. BNP Paribas’ holdings in Coca-Cola were worth $36,452,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in shares of Coca-Cola in the 4th quarter valued at about $3,402,151,000. Capital International Investors boosted its stake in Coca-Cola by 96.0% in the fourth quarter. Capital International Investors now owns 24,949,194 shares of the company’s stock valued at $1,553,337,000 after acquiring an additional 12,222,885 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Coca-Cola by 18.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company’s stock valued at $4,617,400,000 after purchasing an additional 11,569,920 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Coca-Cola during the fourth quarter valued at approximately $500,192,000. Finally, Franklin Resources Inc. boosted its position in Coca-Cola by 21.9% during the 4th quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company’s stock valued at $2,123,301,000 after purchasing an additional 6,118,819 shares during the period. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Stock Up 0.6 %

Shares of Coca-Cola stock opened at $71.69 on Friday. 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. The firm has a market capitalization of $308.52 billion, a PE ratio of 29.02, a price-to-earnings-growth ratio of 3.79 and a beta of 0.45. The stock’s fifty day moving average is $70.90 and its 200-day moving average is $66.56.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.71 by $0.02. The company had revenue of $11.13 billion during the quarter, compared to analysts’ expectations of $11.23 billion. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The business’s revenue for the quarter was down .7% on a year-over-year basis. During the same period last year, the company posted $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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola’s dividend payout ratio (DPR) is currently 81.60%.

Insider Activity

In related news, COO Henrique Braun sold 25,277 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $71.47, for a total transaction of $1,806,547.19. Following the completion of the sale, the chief operating officer now directly owns 52,466 shares in the company, valued at approximately $3,749,745.02. This trade represents a 32.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Nikolaos Koumettis sold 54,708 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $70.96, for a total transaction of $3,882,079.68. Following the completion of the transaction, the insider now owns 246,909 shares in the company, valued at approximately $17,520,662.64. This represents a 18.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 313,423 shares of company stock worth $22,263,071 over the last quarter. Corporate insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

KO has been the topic of several analyst reports. Morgan Stanley increased their target price on Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Barclays reiterated an “overweight” rating on shares of Coca-Cola in a research report on Thursday, March 27th. Jefferies Financial Group upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their price target for the company from $69.00 to $75.00 in a research note on Thursday, January 30th. Royal Bank of Canada boosted their price objective on Coca-Cola from $73.00 to $76.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Piper Sandler raised 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. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $75.59.

Coca-Cola 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.