Tokio Marine Asset Management Co. Ltd. Increases Holdings in CocaCola Company (The) (NYSE:KO)

Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 7.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 123,487 shares of the company's stock after purchasing an additional 8,810 shares during the quarter. Tokio Marine Asset Management Co. Ltd.'s holdings in CocaCola were worth $8,844,000 at the end of the most recent reporting period.

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Other large investors have also recently made changes to their positions in the company. Nuveen LLC bought a new position in shares of CocaCola during the 1st quarter worth $1,508,657,000. Capital International Investors grew its stake in shares of CocaCola by 96.0% during the 4th quarter. Capital International Investors now owns 24,949,194 shares of the company's stock worth $1,553,337,000 after acquiring an additional 12,222,885 shares during the period. GAMMA Investing LLC grew its stake in shares of CocaCola by 8,419.4% during the 1st quarter. GAMMA Investing LLC now owns 5,961,004 shares of the company's stock worth $426,927,000 after acquiring an additional 5,891,034 shares during the period. Capital Research Global Investors grew its stake in shares of CocaCola by 119.0% during the 4th quarter. Capital Research Global Investors now owns 9,458,248 shares of the company's stock worth $588,871,000 after acquiring an additional 5,139,352 shares during the period. Finally, Northern Trust Corp grew its stake in shares of CocaCola by 9.5% during the 4th quarter. Northern Trust Corp now owns 43,802,296 shares of the company's stock worth $2,727,131,000 after acquiring an additional 3,811,756 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on KO. UBS Group cut their price target on CocaCola from $86.00 to $84.00 and set a "buy" rating for the company in a research note on Wednesday, July 23rd. Morgan Stanley reiterated an "overweight" rating and set a $81.00 price target on shares of CocaCola in a research note on Monday, June 9th. Cfra Research upgraded CocaCola to a "strong-buy" rating in a research note on Tuesday, April 15th. JPMorgan Chase & Co. increased their price target on CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Finally, Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the stock an "outperform" rating in a research note on Monday, July 21st. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $77.21.

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Get Our Latest Research Report on KO

Insider Activity

In other news, CEO James Quincey sold 266,403 shares of the business's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the completion of the transaction, the chief executive officer owned 275,946 shares of the company's stock, valued at approximately $19,884,668.76. The trade was a 49.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nikolaos Koumettis sold 37,396 shares of the business's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total value of $2,584,063.60. Following the transaction, the insider directly owned 209,513 shares of the company's stock, valued at $14,477,348.30. The trade was a 15.15% decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.

CocaCola Price Performance

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Shares of NYSE KO opened at $70.75 on Wednesday. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.49. The firm has a market capitalization of $304.48 billion, a price-to-earnings ratio of 25.09, a PEG ratio of 3.68 and a beta of 0.44. The business has a 50-day moving average of $70.09 and a 200-day moving average of $70.02.

CocaCola (NYSE:KO - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.83 by $0.04. CocaCola had a return on equity of 44.91% and a net margin of 25.89%. The company had revenue of $12.50 billion during the quarter, compared to analyst estimates of $12.55 billion. During the same quarter in the previous year, the firm earned $0.84 earnings per share. CocaCola's revenue was up 2.5% on a year-over-year basis. Sell-side analysts expect that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.04 annualized dividend and a dividend yield of 2.9%. CocaCola's payout ratio is presently 72.34%.

CocaCola 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.

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