BI Asset Management Fondsmaeglerselskab A S Acquires 110,828 Shares of The Coca-Cola Company (NYSE:KO)

BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of The Coca-Cola Company (NYSE:KO) by 6.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,738,513 shares of the company’s stock after acquiring an additional 110,828 shares during the quarter. Coca-Cola comprises approximately 1.1% of BI Asset Management Fondsmaeglerselskab A S’s portfolio, making the stock its 11th biggest holding. BI Asset Management Fondsmaeglerselskab A S’s holdings in Coca-Cola were worth $108,240,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Crowley Wealth Management Inc. purchased a new stake in Coca-Cola during the 4th quarter worth about $27,000. Mainstream Capital Management LLC purchased a new stake in shares of Coca-Cola in the fourth quarter worth about $31,000. Retirement Wealth Solutions LLC bought a new position in shares of Coca-Cola in the fourth quarter valued at approximately $37,000. Murphy & Mullick Capital Management Corp purchased a new position in Coca-Cola during the fourth quarter valued at approximately $38,000. Finally, Hoey Investments Inc. increased its holdings in Coca-Cola by 41.9% during the 4th quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock worth $38,000 after acquiring an additional 181 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Performance

Coca-Cola stock opened at $72.99 on Friday. The Coca-Cola Company has a 1-year low of $59.00 and a 1-year high of $73.95. The firm has a market cap of $314.13 billion, a P/E ratio of 29.55, a P/E/G ratio of 3.79 and a beta of 0.45. 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 firm has a 50-day moving average of $70.39 and a 200-day moving average of $66.42.

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

Coca-Cola Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid a $0.51 dividend. 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 2.79%. The ex-dividend date was Friday, March 14th. Coca-Cola’s dividend payout ratio is presently 82.59%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on KO shares. Jefferies Financial Group upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their price target for the company from $69.00 to $75.00 in a research report on Thursday, January 30th. Evercore ISI raised their price target on Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Wednesday, January 8th. JPMorgan Chase & Co. dropped their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Finally, Piper Sandler increased their price target on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Coca-Cola has a consensus rating of “Buy” and an average target price of $74.59.

Insiders Place Their Bets

In other news, EVP Lisa Chang sold 13,445 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $71.50, for a total transaction of $961,317.50. Following the sale, the executive vice president now owns 94,676 shares in the company, valued at approximately $6,769,334. The trade was a 12.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Bruno Pietracci sold 19,058 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $70.56, for a total transaction of $1,344,732.48. The disclosure for this sale can be found here. Insiders sold 313,423 shares of company stock worth $22,263,071 over the last three months. Company insiders own 0.90% of the company’s stock.

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.