KLP Kapitalforvaltning AS Makes New $110.06 Million Investment in The Coca-Cola Company (NYSE:KO)

KLP Kapitalforvaltning AS purchased a new position in The Coca-Cola Company (NYSE:KO) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 1,767,700 shares of the company’s stock, valued at approximately $110,057,000. Coca-Cola makes up about 0.5% of KLP Kapitalforvaltning AS’s holdings, making the stock its 27th biggest holding.

Several other hedge funds have also recently added to or reduced their stakes in KO. Charles Schwab Investment Management Inc. grew its position in Coca-Cola by 18.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company’s stock worth $4,617,400,000 after purchasing an additional 11,569,920 shares in the last quarter. FMR LLC grew its position in Coca-Cola by 13.7% during the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company’s stock worth $6,680,205,000 after purchasing an additional 11,206,995 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Coca-Cola during the 4th quarter worth approximately $500,192,000. Wellington Management Group LLP grew its position in Coca-Cola by 14.5% during the 3rd quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock worth $2,271,885,000 after purchasing an additional 4,013,996 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Coca-Cola by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock worth $6,664,005,000 after purchasing an additional 2,966,964 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Lisa Chang sold 13,445 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The shares were 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 approximately $6,769,334. This represents a 12.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James Quincey sold 145,435 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total transaction of $10,327,339.35. Following the transaction, the chief executive officer now owns 342,546 shares in the company, valued at $24,324,191.46. The trade was a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 313,423 shares of company stock valued at $22,263,071. 0.97% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on KO shares. JPMorgan Chase & Co. lowered their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their target price for the company from $69.00 to $75.00 in a research note on Thursday, January 30th. Barclays lifted their target price on shares of Coca-Cola from $66.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Royal Bank of Canada reissued an “outperform” rating and set a $69.00 target price on shares of Coca-Cola in a research note on Thursday, February 6th. Finally, UBS Group lifted their target price on shares of Coca-Cola from $72.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Two research 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $74.24.

Coca-Cola Stock Performance

NYSE KO opened at $68.58 on Friday. The stock has a market cap of $295.12 billion, a P/E ratio of 27.76, a PEG ratio of 3.79 and a beta of 0.57. The company’s 50-day simple moving average is $67.00 and its 200 day simple moving average is $66.52. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53. 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 posted its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. As a group, research analysts forecast that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders 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 2.97%. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date is Friday, March 14th. Coca-Cola’s dividend payout ratio is currently 82.59%.

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.