Vident Advisory LLC Increases Position in The Coca-Cola Company (NYSE:KO)

Vident Advisory LLC boosted its holdings in shares of The Coca-Cola Company (NYSE:KO) by 109.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 531,232 shares of the company’s stock after acquiring an additional 277,504 shares during the period. Vident Advisory LLC’s holdings in Coca-Cola were worth $33,075,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Voleon Capital Management LP acquired a new position in Coca-Cola in the 4th quarter valued at about $2,513,000. Rice Partnership LLC lifted 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 worth $6,397,000 after acquiring an additional 6,793 shares during the last quarter. Newbridge Financial Services Group Inc. lifted 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 worth $1,663,000 after acquiring an additional 10,240 shares during the last quarter. Lockheed Martin Investment Management Co. lifted 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 worth $13,634,000 after acquiring an additional 30,650 shares during the last quarter. Finally, abrdn plc lifted 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 worth $447,963,000 after acquiring an additional 22,904 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Trading Up 0.6%

Shares of NYSE:KO opened at $72.01 on Monday. The Coca-Cola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The company’s 50 day moving average is $70.88 and its two-hundred day moving average is $66.78. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The company has a market cap of $309.93 billion, a PE ratio of 29.15, a P/E/G ratio of 3.79 and a beta of 0.47.

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

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola’s dividend payout ratio is presently 81.60%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. DZ Bank upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Thursday, February 13th. Piper Sandler upped their price objective on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Evercore ISI upped their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. UBS Group upped their price objective on shares of Coca-Cola from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, April 30th. Finally, Cfra Research upgraded shares of Coca-Cola to a “strong-buy” rating in a report on Tuesday, April 15th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $75.59.

Insider Buying and Selling at Coca-Cola

In related news, EVP Lisa Chang sold 13,445 shares of the stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $71.50, for a total value of $961,317.50. Following the transaction, the executive vice president now directly owns 94,676 shares of the company’s stock, valued at $6,769,334. This trade represents a 12.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Beatriz R. Perez sold 60,326 shares of the stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the completion of the transaction, the executive vice president now directly owns 187,716 shares in the company, valued at $13,491,148.92. This trade represents a 24.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 462,407 shares of company stock valued at $32,990,056. Insiders own 0.97% of the company’s stock.

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.