Artisan Partners Limited Partnership Has $133.53 Million Stock Holdings in The Coca-Cola Company (NYSE:KO)
Artisan Partners Limited Partnership increased its stake in The Coca-Cola Company (NYSE:KO) by 10.1% in Q4, owning 2,144,704 shares valued at approximately $133.53 million. Other institutional investors also acquired new positions in Coca-Cola. Insider trading included significant sales by CEO James Quincey and others. Analysts have generally upgraded Coca-Cola's stock ratings, with a current average target price of $74.24. The stock opened at $70.80, with a market cap of $304.70 billion and a recent EPS of $0.55, surpassing estimates.
Artisan Partners Limited Partnership grew its stake in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 10.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,144,704 shares of the company's stock after buying an additional 195,889 shares during the quarter. Artisan Partners Limited Partnership's holdings in Coca-Cola were worth $133,529,000 as of its most recent SEC filing.
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Other institutional investors also recently modified their holdings of the company. Crowley Wealth Management Inc. bought a new position in Coca-Cola in the 4th quarter valued at approximately $27,000. Mainstream Capital Management LLC bought a new position in shares of Coca-Cola during the fourth quarter valued at $31,000. Retirement Wealth Solutions LLC acquired a new position in shares of Coca-Cola during the fourth quarter worth $37,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of Coca-Cola in the fourth quarter worth $38,000. Finally, MilWealth Group LLC acquired a new stake in Coca-Cola in the fourth quarter valued at $40,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Coca-Cola
In other news, insider Bruno Pietracci sold 19,058 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $70.56, for a total value of $1,344,732.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO James Quincey sold 145,435 shares of the company's stock in a transaction on Tuesday, February 25th. The stock was 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 owns 342,546 shares of the company's stock, valued at $24,324,191.46. This trade represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 313,423 shares of company stock valued at $22,263,071. 0.97% of the stock is owned by corporate insiders.
Analyst Ratings Changes
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A number of research firms have commented on KO. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a "hold" rating to a "buy" rating and upped their price target for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. TD Cowen upgraded Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 target price on the stock in a 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 stock an "outperform" rating in a report on Wednesday, February 12th. UBS Group upped their price objective on shares of Coca-Cola from $72.00 to $78.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. Finally, JPMorgan Chase & Co. lowered 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 note on Tuesday, January 28th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Coca-Cola presently has an average rating of "Moderate Buy" and an average price target of $74.24.
View Our Latest Stock Analysis on Coca-Cola
Coca-Cola Trading Up 1.1 %
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Shares of Coca-Cola stock opened at $70.80 on Friday. The stock has a market capitalization of $304.70 billion, a PE ratio of 28.66, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53. The stock has a 50 day moving average price of $67.62 and a two-hundred day moving average price of $66.46. 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 - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (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%. As a group, equities analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.
Coca-Cola Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Coca-Cola's previous quarterly dividend of $0.49. Coca-Cola's dividend payout ratio is currently 82.59%.
Coca-Cola Company Profile
(Free Report)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.
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