ANTIPODES PARTNERS Ltd Has $11.64 Million Stake in CocaCola Company (The) (NYSE:KO)

ANTIPODES PARTNERS Ltd lessened its stake in shares of CocaCola Company (The) (NYSE:KO) by 62.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 162,467 shares of the company’s stock after selling 269,084 shares during the period. ANTIPODES PARTNERS Ltd’s holdings in CocaCola were worth $11,637,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in KO. Norges Bank bought a new position in shares of CocaCola in the 4th quarter worth $3,402,151,000. Capital International Investors increased its holdings in CocaCola by 96.0% during the 4th quarter. Capital International Investors now owns 24,949,194 shares of the company’s stock worth $1,553,337,000 after purchasing an additional 12,222,885 shares in the last quarter. Franklin Resources Inc. increased its holdings in CocaCola 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 purchasing an additional 6,118,819 shares in the last quarter. GAMMA Investing LLC increased its holdings in CocaCola by 8,419.4% during the 1st quarter. GAMMA Investing LLC now owns 5,961,004 shares of the company’s stock worth $426,927,000 after purchasing an additional 5,891,034 shares in the last quarter. Finally, Capital Research Global Investors grew its holdings in shares of CocaCola by 119.0% in the fourth quarter. Capital Research Global Investors now owns 9,458,248 shares of the company’s stock valued at $588,871,000 after acquiring an additional 5,139,352 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on KO. Barclays reaffirmed an “overweight” rating on shares of CocaCola in a research report on Thursday, March 27th. Morgan Stanley reiterated an “overweight” rating and issued a $81.00 price objective on shares of CocaCola in a report on Monday, June 9th. Royal Bank Of Canada set a $76.00 price objective on CocaCola and gave the stock an “outperform” rating in a report on Monday. BNP Paribas reiterated an “outperform” rating and issued a $83.00 price objective on shares of CocaCola in a report on Monday. Finally, UBS Group decreased their price objective on CocaCola from $86.00 to $84.00 and set a “buy” rating on the stock in a report on Wednesday. One analyst has rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, CocaCola has a consensus rating of “Buy” and a consensus target price of $77.07.

CocaCola Trading Up 0.3%

Shares of CocaCola stock traded up $0.24 on Thursday, reaching $69.40. The company had a trading volume of 3,193,820 shares, compared to its average volume of 17,335,230. The firm has a market cap of $298.72 billion, a price-to-earnings ratio of 24.60, a P/E/G ratio of 3.65 and a beta of 0.45. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.21 and a quick ratio of 0.89. The firm’s 50-day moving average price is $70.74 and its two-hundred day moving average price is $69.23. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38.

CocaCola (NYSE:KO) last released its earnings results on Tuesday, July 22nd. The company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.04. The firm had revenue of $12.50 billion for the quarter, compared to analysts’ expectations of $12.55 billion. CocaCola had a return on equity of 44.91% and a net margin of 25.89%. The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.84 earnings per share. As a group, research analysts predict that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.04 annualized dividend and a yield of 2.94%. CocaCola’s dividend payout ratio (DPR) is presently 72.34%.

Insider Buying and Selling at CocaCola

In related 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 value of $6,391,355.22. Following the completion of the transaction, the chief financial officer owned 205,511 shares in the company, valued at $14,815,287.99. This trade represents a 30.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Beatriz R. Perez sold 60,326 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president directly owned 187,716 shares of the company’s stock, valued at approximately $13,491,148.92. This trade represents a 24.32% decrease in their position. 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. 0.97% of the stock is currently owned by corporate insiders.

CocaCola 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.