Jag Capital Management LLC Buys 536 Shares of The Coca-Cola Company (NYSE:KO)

Jag Capital Management LLC grew its stake in The Coca-Cola Company (NYSE:KO) by 1.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 39,791 shares of the company’s stock after acquiring an additional 536 shares during the quarter. Jag Capital Management LLC’s holdings in Coca-Cola were worth $2,477,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. lifted 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 in the last quarter. FMR LLC lifted its holdings in shares of Coca-Cola by 13.7% during the third quarter. FMR LLC now owns 92,961,376 shares of the company’s stock valued at $6,680,205,000 after purchasing an additional 11,206,995 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Coca-Cola by 14.5% during the third quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock valued at $2,271,885,000 after purchasing an additional 4,013,996 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Coca-Cola during the third quarter valued at $269,382,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Coca-Cola by 3.3% during the third quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock valued at $6,664,005,000 after purchasing an additional 2,966,964 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

KO has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and upped their price target for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Jefferies Financial Group raised Coca-Cola from a “hold” rating to a “buy” rating and increased their target price for the company from $69.00 to $75.00 in a report on Thursday, January 30th. Piper Sandler increased their target price on Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Friday. JPMorgan Chase & Co. lowered their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Finally, TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $74.24.

Insider Buying and Selling at Coca-Cola

In other news, insider Nikolaos Koumettis sold 54,708 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $70.96, for a total value of $3,882,079.68. Following the completion of the sale, the insider now directly owns 246,909 shares of the company’s stock, valued at $17,520,662.64. This trade represents a 18.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO James Quincey sold 145,435 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $71.01, for a total value of $10,327,339.35. Following the completion of the sale, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at $24,324,191.46. The trade was a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 232,646 shares of company stock worth $16,515,469 in the last quarter. 0.97% of the stock is owned by corporate insiders.

Coca-Cola Stock Performance

NYSE:KO opened at $72.29 on Tuesday. 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 Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. The stock has a 50-day moving average price of $64.73 and a 200 day moving average price of $66.52. The stock has a market capitalization of $310.92 billion, a P/E ratio of 29.27, a P/E/G ratio of 3.79 and a beta of 0.61.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. Equities research analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.82%. The ex-dividend date is Friday, March 14th. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio (DPR) is currently 82.59%.

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.