DekaBank Deutsche Girozentrale Acquires 53,634 Shares of CocaCola Company (The) (NYSE:KO)

DekaBank Deutsche Girozentrale lifted its holdings in shares of CocaCola Company (The) (NYSE:KO) by 0.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,670,051 shares of the company’s stock after purchasing an additional 53,634 shares during the period. CocaCola comprises approximately 1.1% of DekaBank Deutsche Girozentrale’s investment portfolio, making the stock its 13th largest holding. DekaBank Deutsche Girozentrale owned 0.18% of CocaCola worth $541,876,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC increased its position in shares of CocaCola by 13.3% in the fourth quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock worth $2,433,000 after purchasing an additional 4,591 shares during the last quarter. Revolve Wealth Partners LLC grew its position in CocaCola by 3.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock valued at $548,000 after acquiring an additional 293 shares during the last quarter. Bank Pictet & Cie Europe AG grew its holdings in shares of CocaCola by 12.2% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 19,102 shares of the company’s stock valued at $1,189,000 after purchasing an additional 2,072 shares during the last quarter. Proficio Capital Partners LLC grew its holdings in shares of CocaCola by 46.2% during the 4th quarter. Proficio Capital Partners LLC now owns 10,843 shares of the company’s stock valued at $675,000 after purchasing an additional 3,426 shares during the last quarter. Finally, Bell Investment Advisors Inc grew its stake in shares of CocaCola by 10.1% during the fourth quarter. Bell Investment Advisors Inc now owns 2,826 shares of the company’s stock valued at $176,000 after buying an additional 260 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on KO. Royal Bank Of Canada raised their target price on CocaCola from $73.00 to $76.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. UBS Group lifted their price objective on CocaCola from $84.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, April 30th. Morgan Stanley restated an “overweight” rating and set a $81.00 price target on shares of CocaCola in a research report on Monday, June 9th. Cfra Research upgraded shares of CocaCola to a “strong-buy” rating in a report on Tuesday, April 15th. Finally, Barclays reissued an “overweight” rating on shares of CocaCola in a research note on Thursday, March 27th. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, CocaCola presently has a consensus rating of “Buy” and a consensus target price of $76.27.

Insider Buying and Selling

In other CocaCola news, CEO James Quincey sold 266,403 shares of the business’s stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the sale, the chief executive officer directly owned 275,946 shares of the company’s stock, valued at $19,884,668.76. The trade was a 49.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO John Murphy sold 88,658 shares of the business’s stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total value of $6,391,355.22. Following the transaction, the chief financial officer directly owned 205,511 shares in the company, valued at approximately $14,815,287.99. This represents a 30.14% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 415,387 shares of company stock worth $29,923,985. Insiders own 0.97% of the company’s stock.

CocaCola Price Performance

NYSE:KO traded down $0.76 on Tuesday, reaching $70.25. 1,675,160 shares of the company’s stock traded hands, compared to its average volume of 17,274,371. The company has a quick ratio of 0.89, a current ratio of 1.10 and a debt-to-equity ratio of 1.57. The stock has a 50-day simple moving average of $71.06 and a 200-day simple moving average of $68.70. The firm has a market cap of $302.36 billion, a PE ratio of 28.08, a P/E/G ratio of 3.74 and a beta of 0.45. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38.

CocaCola (NYSE:KO) last issued its earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.02. The company had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.23 billion. CocaCola had a return on equity of 45.49% and a net margin of 23.00%. The firm’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter last year, the company earned $0.72 EPS. Equities research analysts forecast that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date was Friday, June 13th. CocaCola’s payout ratio is 81.60%.

About CocaCola

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.