Union Bancaire Privee UBP SA Has $36.23 Million Position in The Coca-Cola Company (NYSE:KO)

Union Bancaire Privee UBP SA boosted its holdings in shares of The Coca-Cola Company (NYSE:KO) by 23.6% in the first quarter, Holdings Channel.com reports. The fund owned 508,606 shares of the company’s stock after buying an additional 97,048 shares during the quarter. Union Bancaire Privee UBP SA’s holdings in Coca-Cola were worth $36,228,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new position in Coca-Cola during the fourth quarter valued at approximately $3,402,151,000. Capital International Investors grew its holdings in shares of Coca-Cola by 96.0% in the 4th quarter. Capital International Investors now owns 24,949,194 shares of the company’s stock valued at $1,553,337,000 after buying 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% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company’s stock valued at $4,617,400,000 after buying an additional 11,569,920 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Coca-Cola in the 4th quarter valued at $500,192,000. Finally, Franklin Resources Inc. raised its stake in Coca-Cola by 21.9% during the 4th 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. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Price Performance

Shares of NYSE KO opened at $72.03 on Thursday. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. The business has a 50-day moving average of $71.42 and a 200-day moving average of $67.74. The stock has a market capitalization of $310.02 billion, a price-to-earnings ratio of 29.16, a PEG ratio of 3.79 and a beta of 0.46. The Coca-Cola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.02. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The business had revenue of $11.13 billion during the quarter, compared to analysts’ expectations of $11.23 billion. During the same period last year, the business earned $0.72 earnings per share. The firm’s revenue was down .7% on a year-over-year basis. As a group, sell-side 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. Stockholders of record on Friday, June 13th will be paid a dividend of $0.51 per share. The ex-dividend date is Friday, June 13th. This represents a $2.04 annualized dividend and a dividend yield of 2.83%. Coca-Cola’s dividend payout ratio is presently 81.60%.

Insider Activity

In other Coca-Cola news, CFO John Murphy sold 88,658 shares of the firm’s stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the completion of the sale, the chief financial officer now owns 205,511 shares of the company’s stock, valued at $14,815,287.99. This trade represents a 30.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James Quincey sold 266,403 shares of Coca-Cola stock in a transaction on Friday, May 30th. The stock was sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the transaction, the chief executive officer now directly owns 275,946 shares of the company’s stock, valued at approximately $19,884,668.76. This trade represents a 49.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 415,387 shares of company stock valued at $29,923,985. 0.97% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have issued reports on KO. Evercore ISI increased their price target on Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Barclays reiterated an “overweight” rating on shares of Coca-Cola in a research report on Thursday, March 27th. Morgan Stanley restated an “overweight” rating and set a $81.00 target price on shares of Coca-Cola in a report on Monday. Royal Bank of Canada upped their price target on shares of Coca-Cola from $73.00 to $76.00 and gave the company an “outperform” rating in a report on Wednesday, April 30th. Finally, Piper Sandler raised 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. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $76.00.

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.