Flossbach Von Storch SE Cuts Stock Position in CocaCola Company (The) $KO

Flossbach Von Storch SE trimmed its holdings in shares of CocaCola Company (The) (NYSE:KO) by 13.1% in the second quarter, Holdings Channel reports. The firm owned 863,021 shares of the company’s stock after selling 130,087 shares during the period. Flossbach Von Storch SE’s holdings in CocaCola were worth $61,059,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in KO. 1248 Management LLC acquired a new stake in shares of CocaCola in the first quarter valued at about $26,000. Caitong International Asset Management Co. Ltd boosted its holdings in CocaCola by 5,142.9% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock worth $26,000 after acquiring an additional 360 shares during the period. Ridgewood Investments LLC grew its position in CocaCola by 148.4% in the first quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock valued at $34,000 after acquiring an additional 285 shares in the last quarter. GFG Capital LLC purchased a new stake in shares of CocaCola during the second quarter valued at approximately $34,000. Finally, MMA Asset Management LLC acquired a new position in shares of CocaCola during the second quarter worth $34,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on KO. Bank of America raised their price target on shares of CocaCola from $78.00 to $80.00 and gave the company a “buy” rating in a report on Friday. JPMorgan Chase & Co. raised their target price on CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CocaCola in a research report on Wednesday, October 8th. BNP Paribas reissued an “outperform” rating and issued a $83.00 price target on shares of CocaCola in a report on Monday, July 21st. Finally, Cowen restated a “buy” rating on shares of CocaCola in a research note on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $78.43.

Insider Buying and Selling at CocaCola

In related news, EVP Monica Howard Douglas sold 13,548 shares of the business’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $69.93, for a total transaction of $947,411.64. Following the completion of the sale, the executive vice president owned 37,725 shares of the company’s stock, valued at $2,638,109.25. This represents a 26.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Max R. Levchin acquired 7,206 shares of the company’s stock in a transaction that occurred on Friday, October 24th. The shares were acquired at an average price of $69.87 per share, for a total transaction of $503,483.22. Following the purchase, the director owned 14,267 shares of the company’s stock, valued at $996,835.29. This trade represents a 102.05% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.97% of the stock is owned by insiders.

CocaCola Stock Up 2.2%

NYSE:KO opened at $70.61 on Friday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.00 and a current ratio of 1.21. The company has a market capitalization of $303.75 billion, a price-to-earnings ratio of 23.38, a price-to-earnings-growth ratio of 3.57 and a beta of 0.43. CocaCola Company has a one year low of $60.62 and a one year high of $74.38. The stock has a 50-day simple moving average of $67.75 and a 200 day simple moving average of $69.53.

CocaCola (NYSE:KO) last released its earnings results on Thursday, March 27th. The company reported $0.55 EPS for the quarter. The company had revenue of $11.40 billion for the quarter. CocaCola had a return on equity of 43.62% and a net margin of 27.34%. Sell-side analysts predict that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Monday, December 1st. CocaCola’s payout ratio is currently 67.55%.

CocaCola 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.