Point72 Asia Singapore Pte. Ltd. Buys 23,230 Shares of The Coca-Cola Company (NYSE:KO)

Point72 Asia Singapore Pte. Ltd. raised its position in The Coca-Cola Company (NYSE:KO) by 97.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 46,968 shares of the company’s stock after acquiring an additional 23,230 shares during the period. Coca-Cola makes up about 0.8% of Point72 Asia Singapore Pte. Ltd.’s holdings, making the stock its 24th largest holding. Point72 Asia Singapore Pte. Ltd.’s holdings in Coca-Cola were worth $2,924,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in KO. Crowley Wealth Management Inc. bought a new stake in shares of Coca-Cola in the fourth quarter valued at approximately $27,000. Mainstream Capital Management LLC bought a new stake in Coca-Cola during the 4th quarter valued at $31,000. Retirement Wealth Solutions LLC purchased a new stake in shares of Coca-Cola during the fourth quarter worth $37,000. Murphy & Mullick Capital Management Corp purchased a new stake in Coca-Cola during the 4th quarter worth about $38,000. Finally, Hoey Investments Inc. increased its position in shares of Coca-Cola by 41.9% during the fourth quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock valued at $38,000 after buying an additional 181 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Stock Performance

NYSE KO opened at $69.25 on Thursday. The company has a 50-day simple moving average of $70.86 and a two-hundred day simple moving average of $66.68. The Coca-Cola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The firm has a market cap of $298.07 billion, a price-to-earnings ratio of 28.04, a PEG ratio of 3.79 and a beta of 0.47. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.02. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The company had revenue of $11.13 billion during the quarter, compared to analysts’ expectations of $11.23 billion. During the same period in the prior year, the business posted $0.72 EPS. Coca-Cola’s quarterly revenue was down .7% compared to the same quarter last year. On average, equities analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a $0.51 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 annualized dividend and a yield of 2.95%. Coca-Cola’s payout ratio is currently 81.60%.

Insider Activity

In other Coca-Cola news, CFO John Murphy sold 88,658 shares of the company’s stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the completion of the transaction, the chief financial officer now owns 205,511 shares of the company’s stock, valued at $14,815,287.99. This represents a 30.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO James Quincey sold 145,435 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $71.01, for a total value of $10,327,339.35. Following the transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at $24,324,191.46. This trade represents a 29.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 462,407 shares of company stock valued at $32,990,056. 0.97% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on KO shares. Royal Bank of Canada upped their target price on shares of Coca-Cola from $73.00 to $76.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. Piper Sandler lifted their price target on Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Evercore ISI upped their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Cfra Research raised shares of Coca-Cola to a “strong-buy” rating in a research note on Tuesday, April 15th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Coca-Cola from $74.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, April 21st. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Coca-Cola has an average rating of “Buy” and an average price target of $75.59.

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.