ING Groep NV Acquires 94,391 Shares of CocaCola Company (The) (NYSE:KO)

ING Groep NV increased its holdings in CocaCola Company (The) (NYSE:KO) by 14.2% during the 1st quarter, Holdings Channel reports. The firm owned 757,548 shares of the company’s stock after buying an additional 94,391 shares during the period. ING Groep NV’s holdings in CocaCola were worth $54,256,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Earned Wealth Advisors LLC bought a new stake in shares of CocaCola in the first quarter worth about $507,000. SGL Investment Advisors Inc. grew its stake in shares of CocaCola by 16.9% in the first quarter. SGL Investment Advisors Inc. now owns 6,129 shares of the company’s stock worth $436,000 after purchasing an additional 886 shares during the last quarter. NewEdge Wealth LLC grew its stake in shares of CocaCola by 6.5% in the first quarter. NewEdge Wealth LLC now owns 289,697 shares of the company’s stock worth $20,748,000 after purchasing an additional 17,668 shares during the last quarter. Allianz SE boosted its position in CocaCola by 3.0% during the 1st quarter. Allianz SE now owns 167,942 shares of the company’s stock valued at $12,028,000 after acquiring an additional 4,821 shares in the last quarter. Finally, Novus Advisors LLC bought a new stake in CocaCola during the 1st quarter valued at approximately $210,000. 70.26% of the stock is owned by institutional investors.

CocaCola Price Performance

Shares of NYSE KO opened at $68.87 on Monday. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The firm has a market cap of $296.39 billion, a P/E ratio of 24.42, a PEG ratio of 3.58 and a beta of 0.44. The company has a 50 day moving average of $70.33 and a 200 day moving average of $69.69. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49.

CocaCola (NYSE:KO) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.04. The company had revenue of $12.50 billion during the quarter, compared to analyst estimates of $12.55 billion. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.84 EPS. As a group, research analysts expect that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be paid a dividend of $0.51 per share. The ex-dividend date is Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a yield of 3.0%. CocaCola’s payout ratio is currently 72.34%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. UBS Group cut their price objective on CocaCola from $86.00 to $84.00 and set a “buy” rating on the stock in a research report on Wednesday, July 23rd. Morgan Stanley reaffirmed an “overweight” rating and set a $81.00 price objective on shares of CocaCola in a research report on Monday, June 9th. BNP Paribas reaffirmed an “outperform” rating and set a $83.00 price objective on shares of CocaCola in a research report on Monday, July 21st. JPMorgan Chase & Co. lifted their price objective on CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a research report on Wednesday, July 23rd. Finally, Cfra Research upgraded shares of CocaCola to a “strong-buy” rating in a report on Tuesday, April 15th. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $77.21.

Insider Buying and Selling at CocaCola

In other CocaCola news, CFO John Murphy sold 88,658 shares of the business’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the completion of the sale, the chief financial officer directly owned 205,511 shares in the company, valued at approximately $14,815,287.99. The trade was a 30.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $4,335,629.62. Following the completion of the sale, the executive vice president owned 187,716 shares of the company’s stock, valued at $13,491,148.92. This trade represents a 24.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 415,387 shares of company stock worth $29,923,985. Insiders own 0.90% of the company’s stock.

CocaCola 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.