Allianz SE Raises Stake in CocaCola Company (The) (NYSE:KO)

Key Points

• Allianz SE has increased its holdings in CocaCola Company by 3.0%, acquiring an additional 4,821 shares, bringing its total to 167,942 shares valued at approximately $12 million.
• Several institutional investors, including Northern Trust Corp and Capital International Investors, have also significantly increased their stakes in CocaCola, indicating strong institutional interest in the stock.
• CocaCola has announced a quarterly dividend of $0.51 per share, reflecting an annualized dividend yield of 3.0%, which will be paid on October 1st.

Allianz SE raised its position in CocaCola Company (The) (NYSE:KO - Free Report) by 3.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 167,942 shares of the company's stock after purchasing an additional 4,821 shares during the quarter. Allianz SE's holdings in CocaCola were worth $12,028,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in shares of CocaCola by 13.3% during the fourth quarter. Brighton Jones LLC now owns 39,072 shares of the company's stock valued at $2,433,000 after purchasing an additional 4,591 shares in the last quarter. Revolve Wealth Partners LLC grew its holdings in CocaCola by 3.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company's stock worth $548,000 after purchasing an additional 293 shares during the last quarter. Bank Pictet & Cie Europe AG grew its holdings in CocaCola by 12.2% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 19,102 shares of the company's stock worth $1,189,000 after purchasing an additional 2,072 shares during the last quarter. Thoroughbred Financial Services LLC lifted its stake in shares of CocaCola by 3.4% during the fourth quarter. Thoroughbred Financial Services LLC now owns 39,947 shares of the company's stock worth $2,487,000 after buying an additional 1,325 shares during the period. Finally, Landscape Capital Management L.L.C. lifted its stake in shares of CocaCola by 159.4% during the fourth quarter. Landscape Capital Management L.L.C. now owns 30,975 shares of the company's stock worth $1,929,000 after buying an additional 19,036 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

CocaCola Trading Up 0.3%

NYSE:KO traded up $0.22 on Tuesday, hitting $69.18. The stock had a trading volume of 3,611,167 shares, compared to its average volume of 17,140,041. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. The stock has a market cap of $297.74 billion, a price-to-earnings ratio of 24.53, a PEG ratio of 3.58 and a beta of 0.44. The company has a fifty day moving average price of $70.27 and a two-hundred day moving average price of $69.73. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38.

CocaCola (NYSE:KO - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.04. The company had revenue of $12.50 billion for 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%. CocaCola's revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.84 EPS. Equities research analysts expect that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.9%. The ex-dividend date is Monday, September 15th. CocaCola's payout ratio is presently 72.34%.

Insider Buying and Selling at CocaCola

In other news, EVP Beatriz R. Perez sold 60,326 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $71.87, for a total value of $4,335,629.62. Following the transaction, the executive vice president directly owned 187,716 shares in the company, valued at approximately $13,491,148.92. This represents a 24.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO John Murphy sold 88,658 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the completion of the transaction, the chief financial officer owned 205,511 shares in the company, valued at approximately $14,815,287.99. This represents a 30.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 415,387 shares of company stock worth $29,923,985 in the last ninety days. 0.97% of the stock is owned by insiders.

Analysts Set New Price Targets

KO has been the subject of several research reports. Cfra Research upgraded shares of CocaCola to a "strong-buy" rating in a research note on Tuesday, April 15th. JPMorgan Chase & Co. boosted their target price on shares of CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. UBS Group cut their price objective on shares of CocaCola from $86.00 to $84.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the company an "outperform" rating in a report on Monday, July 21st. Finally, Morgan Stanley reissued an "overweight" rating and set a $81.00 target price on shares of CocaCola in a research note on Monday, June 9th. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $77.21.

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.