Assenagon Asset Management S.A. Buys 3,737,646 Shares of The Coca-Cola Company (NYSE:KO)

Assenagon Asset Management S.A. grew its stake in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 497.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,489,635 shares of the company's stock after purchasing an additional 3,737,646 shares during the period. Coca-Cola makes up 0.5% of Assenagon Asset Management S.A.'s investment portfolio, making the stock its 24th largest holding. Assenagon Asset Management S.A. owned approximately 0.10% of Coca-Cola worth $321,548,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently modified their holdings of KO. Integrated Advisors Network LLC boosted its stake in Coca-Cola by 87.6% during the first quarter. Integrated Advisors Network LLC now owns 97,771 shares of the company's stock worth $7,003,000 after acquiring an additional 45,663 shares in the last quarter. Gibson Capital LLC boosted its stake in Coca-Cola by 5.8% during the first quarter. Gibson Capital LLC now owns 6,880 shares of the company's stock worth $493,000 after acquiring an additional 378 shares in the last quarter. Sanibel Captiva Trust Company Inc. boosted its stake in Coca-Cola by 6.1% during the first quarter. Sanibel Captiva Trust Company Inc. now owns 73,713 shares of the company's stock worth $5,279,000 after acquiring an additional 4,225 shares in the last quarter. Curated Wealth Partners LLC bought a new stake in Coca-Cola during the first quarter worth about $221,000. Finally, Dividend Assets Capital LLC boosted its stake in Coca-Cola by 13.4% during the first quarter. Dividend Assets Capital LLC now owns 10,440 shares of the company's stock worth $748,000 after acquiring an additional 1,233 shares in the last quarter. Institutional investors own 70.26% of the company's stock.

Coca-Cola Stock Performance

KO stock traded down $1.30 during midday trading on Friday, reaching $70.94. 17,424,785 shares of the company's stock traded hands, compared to its average volume of 15,884,646. The Coca-Cola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The stock has a market cap of $305.36 billion, a P/E ratio of 28.72, a PEG ratio of 3.79 and a beta of 0.46. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The stock's 50-day moving average is $71.56 and its 200 day moving average is $67.84.

Coca-Cola (NYSE:KO - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, beating analysts' consensus estimates of $0.71 by $0.02. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The business had revenue of $11.13 billion during the quarter, compared to analysts' expectations of $11.23 billion. During the same period in the prior year, the company earned $0.72 earnings per share. The firm's revenue was down .7% on a year-over-year basis. As a group, analysts anticipate that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a $0.51 dividend. The ex-dividend date is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.88%. Coca-Cola's payout ratio is currently 81.60%.

Insiders Place Their Bets

In other Coca-Cola news, CEO James Quincey sold 266,403 shares of the company's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $72.06, for a total value of $19,197,000.18. Following the completion of the transaction, the chief executive officer now directly owns 275,946 shares in the company, valued at $19,884,668.76. This represents a 49.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available 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 now owns 205,511 shares of the company's stock, valued at approximately $14,815,287.99. The trade was a 30.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 415,387 shares of company stock worth $29,923,985 over the last three months. 0.97% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently commented on KO. Morgan Stanley reissued an "overweight" rating and set a $81.00 price objective on shares of Coca-Cola in a research note on Monday, June 9th. Royal Bank of Canada upped their target price on shares of Coca-Cola from $73.00 to $76.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Barclays reiterated an "overweight" rating on shares of Coca-Cola in a research note on Thursday, March 27th. Cfra Research upgraded shares of Coca-Cola to a "strong-buy" rating in a research note on Tuesday, April 15th. Finally, UBS Group upped their target price on shares of Coca-Cola from $84.00 to $86.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $76.00.

Coca-Cola 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.