Mn Services Vermogensbeheer B.V. Increases Stake in The Coca-Cola Company (NYSE:KO)

Mn Services Vermogensbeheer B.V. raised its holdings in shares of The Coca-Cola Company (NYSE:KO) by 2.1% during the 4th quarter, HoldingsChannel reports. The fund owned 1,622,368 shares of the company’s stock after acquiring an additional 33,800 shares during the quarter. Coca-Cola comprises approximately 0.7% of Mn Services Vermogensbeheer B.V.’s portfolio, making the stock its 22nd biggest holding. Mn Services Vermogensbeheer B.V.’s holdings in Coca-Cola were worth $101,009,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Hara Capital LLC purchased a new position in Coca-Cola during the third quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Coca-Cola during the 3rd quarter valued at about $36,000. Retirement Wealth Solutions LLC bought a new position in shares of Coca-Cola during the 4th quarter valued at approximately $37,000. MilWealth Group LLC purchased a new stake in Coca-Cola in the 4th quarter worth approximately $40,000. Finally, MidAtlantic Capital Management Inc. bought a new stake in Coca-Cola during the 3rd quarter worth approximately $43,000. Institutional investors own 70.26% of the company’s stock.

Insider Activity

In related news, insider Bruno Pietracci sold 19,058 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $70.56, for a total transaction of $1,344,732.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Piper Sandler dropped their price target on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. DZ Bank raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and raised their price target for the company from $68.00 to $70.00 in a report on Thursday, December 12th. JPMorgan Chase & Co. dropped their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $69.00 target price on shares of Coca-Cola in a research note on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $73.82.

Coca-Cola Trading Down 1.0 %

Shares of KO opened at $70.80 on Thursday. The stock has a market capitalization of $304.53 billion, a PE ratio of 28.67, a P/E/G ratio of 3.79 and a beta of 0.61. The company’s fifty day moving average is $64.19 and its 200 day moving average is $66.47. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53.

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

Coca-Cola Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 dividend on an annualized basis and a yield of 2.88%. Coca-Cola’s dividend payout ratio is 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.