AMF Tjanstepension AB Invests $28.44 Million in The Coca-Cola Company (NYSE:KO)

AMF Tjanstepension AB acquired a new stake in shares of The Coca-Cola Company (NYSE:KO) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 464,852 shares of the company’s stock, valued at approximately $28,440,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Coca-Cola during the fourth quarter valued at $2,808,056,000. Fisher Asset Management LLC increased its stake in Coca-Cola by 11,138.6% during the 4th quarter. Fisher Asset Management LLC now owns 4,977,819 shares of the company’s stock valued at $293,343,000 after purchasing an additional 4,933,527 shares in the last quarter. Pathstone Holdings LLC purchased a new position in Coca-Cola in the fourth quarter worth about $193,342,000. Putnam Investments LLC lifted its stake in shares of Coca-Cola by 32.8% in the fourth quarter. Putnam Investments LLC now owns 12,032,095 shares of the company’s stock worth $709,051,000 after buying an additional 2,973,234 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Coca-Cola by 7.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 40,564,179 shares of the company’s stock worth $2,390,448,000 after buying an additional 2,893,061 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Insiders Place Their Bets

In other Coca-Cola news, insider Nikolaos Koumettis sold 80,891 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $62.34, for a total value of $5,042,744.94. Following the completion of the transaction, the insider now directly owns 218,880 shares in the company, valued at $13,644,979.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Nancy Quan sold 19,304 shares of Coca-Cola stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $63.44, for a total transaction of $1,224,645.76. Following the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $14,168,055.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nikolaos Koumettis sold 80,891 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $62.34, for a total value of $5,042,744.94. Following the completion of the transaction, the insider now owns 218,880 shares of the company’s stock, valued at $13,644,979.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 223,665 shares of company stock worth $13,995,465. Company insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

Shares of Coca-Cola stock traded down $0.26 on Friday, hitting $63.65. 17,357,860 shares of the company’s stock were exchanged, compared to its average volume of 13,125,760. The Coca-Cola Company has a 1 year low of $51.55 and a 1 year high of $64.36. The company has a 50-day simple moving average of $62.72 and a 200-day simple moving average of $60.77. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 1.04. The stock has a market capitalization of $274.20 billion, a PE ratio of 25.46, a PEG ratio of 3.62 and a beta of 0.59.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.02. The company had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $11.01 billion. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. Coca-Cola’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.68 earnings per share. As a group, equities analysts anticipate that The Coca-Cola Company will post 2.82 EPS for the current year.

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 3.05%. The ex-dividend date is Friday, June 14th. Coca-Cola’s dividend payout ratio is 77.60%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on KO. Morgan Stanley boosted their price objective on shares of Coca-Cola from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. Evercore ISI increased their price objective on Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. BNP Paribas started coverage on Coca-Cola in a report on Monday. They issued an “outperform” rating and a $72.00 price objective for the company. Barclays upped their target price on shares of Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola currently has an average rating of “Moderate Buy” and an average target price of $68.83.

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.