Fisher Asset Management LLC Buys 4,933,527 Shares of The Coca-Cola Company (NYSE:KO)

Fisher Asset Management LLC boosted its position in The Coca-Cola Company (NYSE:KO) by 11,138.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,977,819 shares of the company’s stock after purchasing an additional 4,933,527 shares during the quarter. Fisher Asset Management LLC owned about 0.12% of Coca-Cola worth $293,343,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. ZRC Wealth Management LLC lifted its position in shares of Coca-Cola by 213.3% during 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 purchased a new position in Coca-Cola in the 4th quarter worth approximately $30,000. Financial Connections Group Inc. purchased a new stake in Coca-Cola in the fourth quarter worth about $38,000. Avion Wealth raised its stake in Coca-Cola by 64.8% during the fourth quarter. Avion Wealth now owns 819 shares of the company’s stock valued at $48,000 after buying an additional 322 shares during the last quarter. Finally, Fortitude Family Office LLC purchased a new position in shares of Coca-Cola during the fourth quarter valued at approximately $53,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 247,188 shares of Coca-Cola stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total value of $15,063,636.72. Following the completion of the transaction, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at approximately $26,968,753.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Nancy Quan sold 57,368 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total value of $3,491,990.16. Following the sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $13,594,097.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $15,063,636.72. Following the sale, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at $26,968,753.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 323,107 shares of company stock worth $19,657,742. 0.97% of the stock is owned by insiders.

Analysts Set New Price Targets

KO has been the subject of several research reports. Evercore ISI upped their target price on Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday. Barclays raised their target price on Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday. UBS Group lifted their target price on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday. Citigroup upped their price objective on Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.27.

Coca-Cola Trading Up 0.3 %

Shares of KO stock traded up $0.18 on Friday, hitting $62.17. The company had a trading volume of 11,623,828 shares, compared to its average volume of 14,021,238. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.95 and a current ratio of 1.04. The Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $64.25. The stock’s 50-day moving average is $60.22 and its two-hundred day moving average is $59.06. The firm has a market cap of $268.03 billion, a P/E ratio of 24.87, a P/E/G ratio of 3.54 and a beta of 0.57.

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

Coca-Cola Increases Dividend

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