LGT Fund Management Co Ltd. Has $3.23 Million Stock Position in The Coca-Cola Company (NYSE:KO)

LGT Fund Management Co Ltd. boosted its position in The Coca-Cola Company (NYSE:KO) by 27.3% in the 4th quarter, HoldingsChannel reports. The firm owned 55,000 shares of the company’s stock after acquiring an additional 11,800 shares during the period. Coca-Cola makes up about 1.4% of LGT Fund Management Co Ltd.’s portfolio, making the stock its 20th largest position. LGT Fund Management Co Ltd.’s holdings in Coca-Cola were worth $3,231,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the company. ZRC Wealth Management LLC raised its holdings in Coca-Cola by 213.3% in the 4th quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock valued at $26,000 after acquiring an additional 320 shares during the period. Criterion Capital Advisors LLC bought a new position in Coca-Cola in the 4th quarter valued at about $30,000. Financial Connections Group Inc. bought a new position in Coca-Cola in the 4th quarter valued at about $38,000. Avion Wealth increased its holdings in shares of Coca-Cola by 64.8% during the fourth quarter. Avion Wealth now owns 819 shares of the company’s stock worth $48,000 after purchasing an additional 322 shares during the period. Finally, Fortitude Family Office LLC bought a new position in shares of Coca-Cola during the fourth quarter worth approximately $53,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Coca-Cola

In related news, EVP Nancy Quan sold 57,368 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total transaction of $3,491,990.16. Following the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at $13,594,097.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO James Quincey sold 247,188 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $26,968,753.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nancy Quan sold 57,368 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total transaction of $3,491,990.16. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $13,594,097.10. The disclosure for this sale can be found here. Insiders sold a total of 323,107 shares of company stock valued at $19,657,742 over the last three months. Corporate insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

KO has been the topic of several analyst reports. Citigroup increased their price target on shares of Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Barclays raised their target price on shares of Coca-Cola from $66.00 to $68.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. JPMorgan Chase & Co. raised their target price on shares of Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday. UBS Group raised their target price on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Evercore ISI lifted their price target on shares of Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $68.18.

Coca-Cola Trading Up 0.4 %

NYSE KO traded up $0.23 during mid-day trading on Thursday, reaching $62.16. 2,792,483 shares of the stock were exchanged, compared to its average volume of 13,947,826. The Coca-Cola Company has a one year low of $51.55 and a one year high of $64.25. The stock has a 50 day simple moving average of $60.21 and a 200-day simple moving average of $59.04. The stock has a market cap of $267.98 billion, a P/E ratio of 24.84, a P/E/G ratio of 3.53 and a beta of 0.57. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.04 and a quick ratio of 0.95.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The business had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $11.01 billion. During the same quarter last year, the firm earned $0.68 earnings per share. Coca-Cola’s quarterly revenue was up 2.7% on a year-over-year basis. On average, analysts anticipate that The Coca-Cola Company will post 2.81 EPS for the current year.

Coca-Cola Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were paid a $0.485 dividend. This is an increase from Coca-Cola’s previous quarterly dividend of $0.46. This represents a $1.94 annualized dividend and a yield of 3.12%. The ex-dividend date was Thursday, March 14th. Coca-Cola’s payout ratio is 77.60%.

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.