Mitsubishi UFJ Asset Management Co. Ltd. Purchases 1,792,879 Shares of The Coca-Cola Company (NYSE:KO)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in The Coca-Cola Company (NYSE:KO) by 13.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,266,972 shares of the company’s stock after purchasing an additional 1,792,879 shares during the quarter. Coca-Cola comprises 0.9% of Mitsubishi UFJ Asset Management Co. Ltd.’s investment portfolio, making the stock its 17th biggest position. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.35% of Coca-Cola worth $942,736,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Crowley Wealth Management Inc. purchased a new position in shares of Coca-Cola during the fourth quarter worth about $27,000. Mainstream Capital Management LLC bought a new stake in Coca-Cola during the fourth quarter valued at approximately $31,000. Retirement Wealth Solutions LLC purchased a new position in Coca-Cola in the 4th quarter worth approximately $37,000. Murphy & Mullick Capital Management Corp bought a new position in shares of Coca-Cola in the 4th quarter worth $38,000. Finally, MilWealth Group LLC purchased a new stake in shares of Coca-Cola during the 4th quarter valued at $40,000. 70.26% of the stock is owned by institutional investors.

Coca-Cola Stock Performance

Shares of NYSE:KO opened at $70.02 on Thursday. 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 company has a 50-day moving average price of $67.45 and a 200-day moving average price of $66.43. The company has a market cap of $301.32 billion, a price-to-earnings ratio of 28.35, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, beating 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%. As a group, equities analysts anticipate that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.51 per share. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date is Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.91%. Coca-Cola’s payout ratio is presently 82.59%.

Insider Activity at Coca-Cola

In other Coca-Cola news, insider Bruno Pietracci sold 19,058 shares of the stock in a transaction 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Henrique Braun sold 25,277 shares of the business’s stock in a transaction 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 sale, the chief operating officer now owns 52,466 shares in the company, valued at approximately $3,749,745.02. This trade represents a 32.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 313,423 shares of company stock worth $22,263,071 over the last 90 days. 0.97% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

KO has been the subject of several research reports. DZ Bank upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Thursday, February 13th. Piper Sandler upped their price objective on Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Barclays raised their price objective on Coca-Cola from $66.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and upped their target price for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. Finally, Evercore ISI lifted their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Two equities research 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 data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $74.24.

About Coca-Cola

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.