Flossbach Von Storch AG raised its holdings in shares of Coca-Cola Co (The) (NYSE:KO) by 753.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,443,869 shares of the company’s stock after purchasing an additional 4,805,893 shares during the quarter. Coca-Cola accounts for about 1.6% of Flossbach Von Storch AG’s portfolio, making the stock its 18th largest position. Flossbach Von Storch AG owned about 0.13% of Coca-Cola worth $240,891,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. PrairieView Partners LLC bought a new position in Coca-Cola during the first quarter valued at $27,000. Pearl River Capital LLC purchased a new stake in shares of Coca-Cola in the first quarter valued at $30,000. Stonebridge Financial Planning Group LLC purchased a new stake in shares of Coca-Cola in the fourth quarter valued at $38,000. HighMark Wealth Management LLC purchased a new stake in shares of Coca-Cola in the fourth quarter valued at $44,000. Finally, Wealth Alliance purchased a new stake in shares of Coca-Cola in the fourth quarter valued at $90,000. Institutional investors and hedge funds own 67.93% of the company’s stock.
In other news, SVP Lisa Chang purchased 1,650 shares of the stock in a transaction dated Monday, April 27th. The shares were acquired at an average cost of $46.74 per share, for a total transaction of $77,121.00. Following the acquisition, the senior vice president now owns 5,826 shares of the company’s stock, valued at $272,307.24. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO James Quincey sold 66,673 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $59.08, for a total transaction of $3,939,040.84. Following the completion of the sale, the chief executive officer now owns 467,407 shares in the company, valued at $27,614,405.56. The disclosure for this sale can be found here. 1.01% of the stock is currently owned by company insiders.
KO has been the topic of several recent analyst reports. Cfra reduced their target price on shares of Coca-Cola from $60.00 to $55.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, April 21st. Royal Bank of Canada reduced their target price on shares of Coca-Cola from $57.00 to $55.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 22nd. UBS Group increased their target price on shares of Coca-Cola from $63.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, January 31st. HSBC raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research note on Tuesday, March 24th. Finally, Goldman Sachs Group initiated coverage on shares of Coca-Cola in a research note on Wednesday, April 1st. They issued a “neutral” rating and a $46.00 price target on the stock. One analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Coca-Cola currently has an average rating of “Buy” and an average target price of $54.55.
NYSE KO traded down $0.14 during trading on Friday, reaching $45.03. 13,007,667 shares of the company’s stock traded hands, compared to its average volume of 17,496,358. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.87 and a quick ratio of 0.76. The firm has a market cap of $194.00 billion, a price-to-earnings ratio of 19.41, a price-to-earnings-growth ratio of 5.01 and a beta of 0.56. The company’s 50 day simple moving average is $45.85 and its two-hundred day simple moving average is $51.99. Coca-Cola Co has a 12-month low of $36.27 and a 12-month high of $60.13.
Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, April 21st. The company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.07. The business had revenue of $8.60 billion for the quarter, compared to the consensus estimate of $8.32 billion. Coca-Cola had a net margin of 26.95% and a return on equity of 45.26%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.48 EPS. Research analysts expect that Coca-Cola Co will post 1.87 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date is Friday, June 12th. Coca-Cola’s dividend payout ratio is currently 77.73%.
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.
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