Weiss Multi Strategy Advisers LLC Invests $10.56 Million in The Coca-Cola Co (KO) Stock

Weiss Multi Strategy Advisers LLC acquired a new stake in The Coca-Cola Co (NYSE:KO) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 223,000 shares of the company’s stock, valued at approximately $10,559,000.

Several other hedge funds also recently added to or reduced their stakes in KO. Oregon Public Employees Retirement Fund grew its position in shares of The Coca-Cola by 4,577.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 19,634,956 shares of the company’s stock worth $415,000 after buying an additional 19,215,135 shares in the last quarter. BlackRock Inc. grew its position in shares of The Coca-Cola by 2.9% during the fourth quarter. BlackRock Inc. now owns 253,865,694 shares of the company’s stock worth $12,020,541,000 after buying an additional 7,272,015 shares in the last quarter. Geode Capital Management LLC grew its position in shares of The Coca-Cola by 10.8% during the fourth quarter. Geode Capital Management LLC now owns 46,561,672 shares of the company’s stock worth $2,200,726,000 after buying an additional 4,528,987 shares in the last quarter. California Public Employees Retirement System grew its position in shares of The Coca-Cola by 34.3% during the fourth quarter. California Public Employees Retirement System now owns 16,348,417 shares of the company’s stock worth $774,098,000 after buying an additional 4,176,279 shares in the last quarter. Finally, Vanguard Group Inc grew its position in shares of The Coca-Cola by 1.4% during the third quarter. Vanguard Group Inc now owns 289,055,893 shares of the company’s stock worth $13,351,492,000 after buying an additional 3,918,108 shares in the last quarter. 67.83% of the stock is owned by institutional investors and hedge funds.

The Coca-Cola stock opened at $47.48 on Monday. The firm has a market capitalization of $202.55 billion, a price-to-earnings ratio of 22.83, a price-to-earnings-growth ratio of 3.19 and a beta of 0.52. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.05 and a quick ratio of 0.95. The Coca-Cola Co has a 12 month low of $41.45 and a 12 month high of $50.84.

The Coca-Cola (NYSE:KO) last released its quarterly earnings data on Thursday, February 14th. The company reported $0.43 EPS for the quarter, hitting analysts’ consensus estimates of $0.43. The firm had revenue of $7.10 billion during the quarter, compared to the consensus estimate of $7.07 billion. The Coca-Cola had a net margin of 20.20% and a return on equity of 43.91%. The firm’s revenue was down 5.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.39 earnings per share. On average, analysts anticipate that The Coca-Cola Co will post 2.09 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from The Coca-Cola’s previous quarterly dividend of $0.39. The Coca-Cola’s payout ratio is currently 76.92%.

A number of analysts have recently weighed in on the stock. Royal Bank of Canada reissued a “buy” rating and set a $56.00 price target on shares of The Coca-Cola in a research report on Wednesday, February 13th. Deutsche Bank reissued a “buy” rating and set a $53.00 price target on shares of The Coca-Cola in a research report on Thursday. Zacks Investment Research raised shares of The Coca-Cola from a “sell” rating to a “hold” rating in a research report on Tuesday, April 16th. Wells Fargo & Co raised their price target on shares of The Coca-Cola from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $51.00 price target on shares of The Coca-Cola in a research report on Thursday, February 14th. Sixteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $50.60.

In other The Coca-Cola news, insider Beatriz R. Perez sold 21,742 shares of the firm’s stock in a transaction on Monday, February 4th. The stock was sold at an average price of $48.76, for a total value of $1,060,139.92. Following the sale, the insider now directly owns 92,645 shares in the company, valued at $4,517,370.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Beatriz R. Perez sold 10,000 shares of the firm’s stock in a transaction on Friday, February 1st. The shares were sold at an average price of $48.50, for a total value of $485,000.00. Following the completion of the sale, the senior vice president now owns 92,645 shares in the company, valued at $4,493,282.50. The disclosure for this sale can be found here. Insiders own 1.33% of the company’s stock.

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The Coca-Cola Profile

The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plant–based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

Read More: Asset Allocation

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Institutional Ownership by Quarter for The Coca-Cola (NYSE:KO)

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