KLP Kapitalforvaltning AS Invests $110.06 Million in The Coca-Cola Company (NYSE:KO)

KLP Kapitalforvaltning AS purchased a new position in shares of The Coca-Cola Company (NYSE:KO) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,767,700 shares of the company’s stock, valued at approximately $110,057,000. Coca-Cola makes up approximately 0.5% of KLP Kapitalforvaltning AS’s investment portfolio, making the stock its 27th largest position.

Several other large investors have also recently added to or reduced their stakes in the company. Mainstream Capital Management LLC purchased a new position in Coca-Cola in the fourth quarter valued at about $31,000. Retirement Wealth Solutions LLC purchased a new position in Coca-Cola in the fourth quarter valued at about $37,000. MilWealth Group LLC purchased a new position in Coca-Cola in the fourth quarter valued at about $40,000. Sugar Maple Asset Management LLC acquired a new stake in shares of Coca-Cola in the fourth quarter valued at approximately $43,000. Finally, Hara Capital LLC grew its position in shares of Coca-Cola by 43.7% in the fourth quarter. Hara Capital LLC now owns 691 shares of the company’s stock valued at $43,000 after purchasing an additional 210 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Coca-Cola

In other news, EVP Lisa Chang sold 13,445 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $71.50, for a total value of $961,317.50. Following the completion of the sale, the executive vice president now directly owns 94,676 shares of the company’s stock, valued at approximately $6,769,334. This represents a 12.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Henrique Braun sold 25,277 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $71.47, for a total transaction of $1,806,547.19. Following the transaction, the chief operating officer now owns 52,466 shares in the company, valued at $3,749,745.02. This represents a 32.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 313,423 shares of company stock valued at $22,263,071 in the last ninety days. Company insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

KO opened at $68.58 on Friday. The company has a 50-day moving average of $67.00 and a 200-day moving average of $66.52. The company has a market capitalization of $295.12 billion, a P/E ratio of 27.76, a PEG ratio of 3.79 and a beta of 0.57. The Coca-Cola Company has a 1-year low of $57.93 and a 1-year high of $73.53. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03.

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

Coca-Cola Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.97%. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Friday, March 14th. Coca-Cola’s payout ratio is presently 82.59%.

Wall Street Analyst Weigh In

KO has been the topic of several research reports. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Wednesday, January 8th. Morgan Stanley raised their target price on shares of Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Wells Fargo & Company raised their target price on shares of Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their target price for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $69.00 price target on shares of Coca-Cola in a report on Thursday, February 6th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $74.24.

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.