The Coca-Cola Company (NYSE:KO) Stake Boosted by Rafferty Asset Management LLC

Rafferty Asset Management LLC grew its stake in shares of The Coca-Cola Company (NYSE:KO) by 4.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 301,928 shares of the company’s stock after acquiring an additional 11,991 shares during the period. Rafferty Asset Management LLC’s holdings in Coca-Cola were worth $17,793,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Morgan Stanley boosted its holdings in Coca-Cola by 2.5% in the third quarter. Morgan Stanley now owns 80,448,083 shares of the company’s stock worth $4,503,484,000 after purchasing an additional 1,950,146 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Coca-Cola by 4.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 63,138,970 shares of the company’s stock worth $3,501,789,000 after purchasing an additional 2,464,618 shares in the last quarter. Norges Bank bought a new stake in Coca-Cola in the fourth quarter worth $2,808,056,000. Northern Trust Corp boosted its holdings in Coca-Cola by 4.8% in the third quarter. Northern Trust Corp now owns 44,913,068 shares of the company’s stock worth $2,514,234,000 after purchasing an additional 2,040,664 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Coca-Cola by 8.2% in the third quarter. Invesco Ltd. now owns 25,845,340 shares of the company’s stock worth $1,446,822,000 after purchasing an additional 1,963,963 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Coca-Cola news, EVP Monica Howard Douglas sold 8,874 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $63.31, for a total transaction of $561,812.94. Following the sale, the executive vice president now directly owns 33,638 shares of the company’s stock, valued at $2,129,621.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Monica Howard Douglas sold 8,874 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $63.31, for a total transaction of $561,812.94. Following the sale, the executive vice president now directly owns 33,638 shares of the company’s stock, valued at $2,129,621.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Beatriz R. Perez sold 57,298 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the sale, the executive vice president now directly owns 167,107 shares in the company, valued at $10,358,962.93. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 180,838 shares of company stock valued at $11,220,064. 0.97% of the stock is currently owned by insiders.

Coca-Cola Stock Performance

Shares of KO remained flat at $62.93 during trading hours on Monday. 9,368,055 shares of the stock were exchanged, compared to its average volume of 13,345,255. The firm has a fifty day moving average of $61.24 and a two-hundred day moving average of $60.10. The firm has a market cap of $271.10 billion, a PE ratio of 25.17, a P/E/G ratio of 3.55 and a beta of 0.59. The company has a current ratio of 1.04, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26. The Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $63.76.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The business had revenue of $11.30 billion during the quarter, compared to analyst estimates of $11.01 billion. During the same quarter in the prior year, the business earned $0.68 earnings per share. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, equities research analysts predict that The Coca-Cola Company will post 2.82 EPS for the current year.

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a dividend of $0.485 per share. The ex-dividend date is Friday, June 14th. This represents a $1.94 annualized dividend and a yield of 3.08%. Coca-Cola’s dividend payout ratio is 77.60%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. StockNews.com upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating in a report on Wednesday, May 29th. Argus upped their price target on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, May 22nd. UBS Group upped their price target on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Barclays upped their price target on shares of Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Finally, Evercore ISI upped their price target on shares of Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Coca-Cola presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.58.

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.