The Coca-Cola Company (NYSE:KO) Shares Purchased by New York Life Investment Management LLC

New York Life Investment Management LLC grew its position in shares of The Coca-Cola Company (NYSE:KO) by 0.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 520,945 shares of the company’s stock after buying an additional 2,787 shares during the period. New York Life Investment Management LLC’s holdings in Coca-Cola were worth $32,434,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Hara Capital LLC bought a new position in Coca-Cola during the 3rd quarter worth approximately $35,000. E Fund Management Hong Kong Co. Ltd. bought a new position in Coca-Cola during the 3rd quarter worth approximately $36,000. Retirement Wealth Solutions LLC bought a new position in Coca-Cola during the 4th quarter worth approximately $37,000. MilWealth Group LLC bought a new position in Coca-Cola during the 4th quarter worth approximately $40,000. Finally, MidAtlantic Capital Management Inc. bought a new position in Coca-Cola during the 3rd quarter worth approximately $43,000. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Down 1.0 %

Shares of KO stock opened at $70.80 on Thursday. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53. The stock has a market cap of $304.53 billion, a PE ratio of 28.67, a price-to-earnings-growth ratio of 3.79 and a beta of 0.61. The business’s fifty day moving average is $64.19 and its 200-day moving average is $66.47. 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) last issued 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 return on equity of 45.37% and a net margin of 22.59%. Equities analysts expect that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a dividend yield of 2.88%. Coca-Cola’s dividend payout ratio (DPR) is 82.59%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Jefferies Financial Group raised Coca-Cola from a “hold” rating to a “buy” rating and increased their target price for the stock from $69.00 to $75.00 in a report on Thursday, January 30th. UBS Group increased their target price on Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. DZ Bank raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and raised their price target for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. Finally, Morgan Stanley raised their price target on Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $73.82.

Insider Activity

In related news, insider Bruno Pietracci sold 19,058 shares of Coca-Cola 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.97% 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.