Lighthouse Investment Partners LLC Has $29.60 Million Holdings in The Coca-Cola Company (NYSE:KO)

Lighthouse Investment Partners LLC lifted its holdings in shares of The Coca-Cola Company (NYSE:KO) by 552.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 475,425 shares of the company’s stock after purchasing an additional 402,595 shares during the period. Coca-Cola accounts for 1.0% of Lighthouse Investment Partners LLC’s holdings, making the stock its 12th biggest holding. Lighthouse Investment Partners LLC’s holdings in Coca-Cola were worth $29,600,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Crowley Wealth Management Inc. bought a new stake in shares of Coca-Cola during the fourth quarter worth about $27,000. Mainstream Capital Management LLC purchased a new position in Coca-Cola in the fourth quarter valued at about $31,000. Retirement Wealth Solutions LLC purchased a new position in Coca-Cola in the fourth quarter valued at about $37,000. Murphy & Mullick Capital Management Corp purchased a new position in Coca-Cola in the fourth quarter valued at about $38,000. Finally, Hoey Investments Inc. raised its position in shares of Coca-Cola by 41.9% in the fourth quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock valued at $38,000 after purchasing an additional 181 shares during the period. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Trading Down 0.8%

Shares of NYSE:KO opened at $70.62 on Monday. The Coca-Cola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The firm has a market capitalization of $303.97 billion, a price-to-earnings ratio of 28.59, a price-to-earnings-growth ratio of 3.79 and a beta of 0.47. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. The business’s 50 day moving average price is $70.95 and its 200-day moving average price is $66.63.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.71 by $0.02. The business had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.23 billion. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The company’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.72 EPS. On average, equities research analysts forecast that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date is Friday, June 13th. Coca-Cola’s dividend payout ratio is presently 81.60%.

Insider Transactions at Coca-Cola

In related news, EVP Beatriz R. Perez sold 60,326 shares of the company’s stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the transaction, the executive vice president now owns 187,716 shares of the company’s stock, valued at $13,491,148.92. This represents a 24.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO James Quincey sold 145,435 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total value of $10,327,339.35. Following the transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at $24,324,191.46. This represents a 29.80% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 462,407 shares of company stock valued at $32,990,056. 0.97% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on KO shares. Barclays reaffirmed an “overweight” rating on shares of Coca-Cola in a report on Thursday, March 27th. Wells Fargo & Company raised their price objective on shares of Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Piper Sandler upped their price objective on shares of Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Morgan Stanley upped their price objective on shares of Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Finally, JPMorgan Chase & Co. increased their price target on shares of Coca-Cola from $74.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, April 21st. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $75.59.

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.