Impax Asset Management Group plc Buys 9,108 Shares of The Coca-Cola Company (NYSE:KO)

Impax Asset Management Group plc boosted its stake in shares of The Coca-Cola Company (NYSE:KO) by 6.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 154,591 shares of the company’s stock after buying an additional 9,108 shares during the period. Impax Asset Management Group plc’s holdings in Coca-Cola were worth $9,625,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Hara Capital LLC purchased a new stake in Coca-Cola during the 3rd quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Coca-Cola in the 3rd quarter worth $36,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Coca-Cola in the 3rd quarter worth $43,000. Retirement Wealth Solutions LLC purchased a new position in shares of Coca-Cola in the 4th quarter worth $37,000. Finally, MilWealth Group LLC purchased a new position in shares of Coca-Cola in the 4th quarter worth $40,000. Institutional investors own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on KO shares. Deutsche Bank Aktiengesellschaft upgraded 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 research note on Thursday, December 12th. Piper Sandler dropped their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. DZ Bank upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Thursday, February 13th. JPMorgan Chase & Co. lowered their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company upped their price target on Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Two investment 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. Based on data from MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and a consensus target price of $73.82.

Coca-Cola Stock Performance

Shares of Coca-Cola stock opened at $70.58 on Tuesday. The company has a market capitalization of $304.04 billion, a PE ratio of 28.57, a P/E/G ratio of 3.79 and a beta of 0.61. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The company has a 50-day simple moving average of $63.87 and a two-hundred day simple moving average of $66.42. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates 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 expect that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $0.51 dividend. The ex-dividend date is Friday, March 14th. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 dividend on an annualized basis and a yield of 2.89%. Coca-Cola’s payout ratio is currently 78.54%.

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.