The Coca-Cola Company (NYSE:KO) Shares Bought by Cibc World Markets Corp

Cibc World Markets Corp lifted its position in The Coca-Cola Company (NYSE:KO) by 71.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,754,564 shares of the company’s stock after acquiring an additional 732,709 shares during the quarter. Coca-Cola accounts for approximately 0.6% of Cibc World Markets Corp’s holdings, making the stock its 29th largest position. Cibc World Markets Corp’s holdings in Coca-Cola were worth $109,239,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Mainstream Capital Management LLC acquired a new position in shares of Coca-Cola in the 4th quarter worth approximately $31,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Coca-Cola in the 3rd quarter worth approximately $43,000. Retirement Wealth Solutions LLC bought a new stake in shares of Coca-Cola in the 4th quarter worth approximately $37,000. MilWealth Group LLC bought a new stake in shares of Coca-Cola in the 4th quarter worth approximately $40,000. Finally, Hara Capital LLC lifted its holdings in shares of Coca-Cola by 43.7% in the 4th quarter. Hara Capital LLC now owns 691 shares of the company’s stock worth $43,000 after purchasing an additional 210 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Activity at Coca-Cola

In related news, EVP Lisa Chang sold 13,445 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $71.50, for a total transaction of $961,317.50. Following the transaction, the executive vice president now directly owns 94,676 shares in the company, valued at $6,769,334. The trade was a 12.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Bruno Pietracci sold 19,058 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $70.56, for a total value of $1,344,732.48. 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 three months. Company insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. UBS Group raised their price target on Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Wells Fargo & Company raised their price target on Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Evercore ISI raised their price target on Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 price target on shares of Coca-Cola in a report on Thursday, February 6th. Finally, JPMorgan Chase & Co. cut their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Two investment 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $74.24.

Coca-Cola Price Performance

Shares of NYSE:KO opened at $69.16 on Monday. The Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53. The business has a 50-day moving average of $66.18 and a two-hundred day moving average of $66.54. The stock has a market capitalization of $297.47 billion, a P/E ratio of 28.00, a P/E/G ratio of 3.79 and a beta of 0.57. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, topping 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%. On average, equities research analysts predict that The Coca-Cola Company will post 2.96 EPS 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. Investors of record on Friday, March 14th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.95%. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date is Friday, March 14th. Coca-Cola’s payout ratio is currently 82.59%.

Coca-Cola 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.