MetLife Investment Management LLC Grows Stock Position in The Coca-Cola Company (NYSE:KO)

MetLife Investment Management LLC raised its holdings in The Coca-Cola Company (NYSE:KO) by 1.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,124,364 shares of the company’s stock after acquiring an additional 14,357 shares during the period. MetLife Investment Management LLC’s holdings in Coca-Cola were worth $70,003,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Crowley Wealth Management Inc. acquired a new position in shares of Coca-Cola in the 4th quarter valued at $27,000. Mainstream Capital Management LLC purchased a new position in shares of Coca-Cola in the 4th quarter worth $31,000. Retirement Wealth Solutions LLC acquired a new position in Coca-Cola in the fourth quarter valued at $37,000. Murphy & Mullick Capital Management Corp acquired a new stake in Coca-Cola during the fourth quarter worth about $38,000. Finally, Hoey Investments Inc. increased its stake in Coca-Cola by 41.9% during the fourth quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock worth $38,000 after acquiring an additional 181 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Stock Up 1.8 %

KO stock opened at $72.99 on Friday. The firm has a fifty day moving average price of $70.39 and a two-hundred day moving average price of $66.42. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. 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 price-to-earnings ratio of 29.55, a PEG ratio of 3.79 and a beta of 0.45.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, topping 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%. Research analysts predict that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a dividend of $0.51 per share. The ex-dividend date was Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a yield of 2.79%. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s payout ratio is currently 82.59%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. UBS Group boosted their target price on Coca-Cola from $78.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday. Jefferies Financial Group upgraded Coca-Cola from a “hold” rating to a “buy” rating and raised their target price for the company from $69.00 to $75.00 in a report on Thursday, January 30th. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Wednesday, January 8th. Evercore ISI raised their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Finally, Morgan Stanley lifted their price target on shares of Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $74.59.

Insider Buying and Selling

In other Coca-Cola news, EVP Lisa Chang sold 13,445 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 94,676 shares in the company, valued at approximately $6,769,334. This represents a 12.44 % 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 Coca-Cola 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 sale, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $24,324,191.46. This trade represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 313,423 shares of company stock worth $22,263,071 in the last three months. 0.90% of the stock is owned by insiders.

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.