Baader Bank Aktiengesellschaft Cuts Stake in CocaCola Company (The) (NYSE:KO)

Key Points

• Baader Bank Aktiengesellschaft reduced its stake in CocaCola Company by 41.8%, owning 16,127 shares after selling 11,578 shares, which were valued at approximately $1.15 million according to its latest SEC filing.
• CEO James Quincey sold 266,403 shares of CocaCola, resulting in a 49.12% decrease in his holdings, while EVP Beatriz R. Perez sold 60,326 shares, leading to a 24.32% drop in her position.
• The company announced a quarterly dividend of $0.51 per share, scheduled for payment on October 1st, representing an annualized yield of 2.94% and a payout ratio of 72.34%.

Baader Bank Aktiengesellschaft lowered its holdings in CocaCola Company (The) (NYSE:KO - Free Report) by 41.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,127 shares of the company's stock after selling 11,578 shares during the period. Baader Bank Aktiengesellschaft's holdings in CocaCola were worth $1,153,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. MorganRosel Wealth Management LLC bought a new stake in CocaCola during the 1st quarter worth approximately $25,000. Garde Capital Inc. bought a new stake in CocaCola during the 1st quarter worth approximately $30,000. Mizuho Securities Co. Ltd. increased its holdings in CocaCola by 360.0% during the 1st quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock worth $33,000 after acquiring an additional 360 shares during the period. Ridgewood Investments LLC increased its holdings in CocaCola by 148.4% during the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company's stock worth $34,000 after acquiring an additional 285 shares during the period. Finally, Moser Wealth Advisors LLC increased its holdings in CocaCola by 449.5% during the 1st quarter. Moser Wealth Advisors LLC now owns 500 shares of the company's stock worth $36,000 after acquiring an additional 409 shares during the period. Institutional investors own 70.26% of the company's stock.

CocaCola Trading Up 0.9%

KO traded up $0.59 during trading on Friday, hitting $68.48. 2,970,357 shares of the stock traded hands, compared to its average volume of 17,184,957. The firm has a market capitalization of $294.70 billion, a P/E ratio of 24.26, a price-to-earnings-growth ratio of 3.58 and a beta of 0.45. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.21 and a quick ratio of 0.98. The firm has a 50-day moving average of $70.39 and a 200 day moving average of $69.54. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38.

CocaCola (NYSE:KO - Get Free Report) last announced its quarterly 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. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The business had revenue of $12.50 billion during the quarter, compared to analysts' expectations of $12.55 billion. During the same quarter in the prior year, the company posted $0.84 EPS. The firm's revenue for the quarter was up 2.5% compared to the same quarter last year. Equities research analysts anticipate that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Monday, September 15th. CocaCola's dividend payout ratio (DPR) is presently 72.34%.

Analyst Ratings Changes

A number of equities analysts have commented on KO shares. BNP Paribas reissued an "outperform" rating and issued a $83.00 price target on shares of CocaCola in a research note on Monday, July 21st. Morgan Stanley reissued an "overweight" rating and issued a $81.00 price target on shares of CocaCola in a research note on Monday, June 9th. JPMorgan Chase & Co. boosted their price target on shares of CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada set a $76.00 price target on shares of CocaCola and gave the stock an "outperform" rating in a research note on Monday, July 21st. Finally, UBS Group cut their price target on shares of CocaCola from $86.00 to $84.00 and set a "buy" rating for the company in a research note on Wednesday, July 23rd. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, CocaCola currently has a consensus rating of "Buy" and an average target price of $77.21.

Insider Buying and Selling

In related news, CFO John Murphy sold 88,658 shares of the stock in a transaction dated 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 completion of the transaction, the chief financial officer directly owned 205,511 shares in the company, valued at $14,815,287.99. This trade represents a 30.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Beatriz R. Perez sold 60,326 shares of the stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the completion of the transaction, the executive vice president owned 187,716 shares of the company's stock, valued at approximately $13,491,148.92. The trade was a 24.32% 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 in the last three months. 0.97% of the stock is owned by corporate insiders.

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.