CocaCola Company (The) (NYSE:KO) Shares Purchased by Banque Pictet & Cie SA

Banque Pictet & Cie SA lifted its stake in CocaCola Company (The) (NYSE:KO - Free Report) by 3.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 118,442 shares of the company's stock after acquiring an additional 4,079 shares during the period. Banque Pictet & Cie SA's holdings in CocaCola were worth $8,483,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Axxcess Wealth Management LLC boosted its position in shares of CocaCola by 1.7% in the 1st quarter. Axxcess Wealth Management LLC now owns 142,382 shares of the company's stock worth $10,197,000 after purchasing an additional 2,354 shares in the last quarter. Rehmann Capital Advisory Group raised its stake in CocaCola by 4.5% in the first quarter. Rehmann Capital Advisory Group now owns 32,591 shares of the company's stock valued at $2,334,000 after buying an additional 1,397 shares during the last quarter. Cornerstone Planning Group LLC raised its stake in CocaCola by 45.2% in the first quarter. Cornerstone Planning Group LLC now owns 2,680 shares of the company's stock valued at $196,000 after buying an additional 834 shares during the last quarter. Aspen Wealth Strategies LLC purchased a new stake in CocaCola in the first quarter valued at about $215,000. Finally, Dogwood Wealth Management LLC raised its stake in CocaCola by 34.1% in the first quarter. Dogwood Wealth Management LLC now owns 952 shares of the company's stock valued at $69,000 after buying an additional 242 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at CocaCola

In other CocaCola news, CEO James Quincey sold 266,403 shares of the stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the completion of the transaction, the chief executive officer owned 275,946 shares of the company's stock, valued at $19,884,668.76. This represents a 49.12% decrease in their ownership of the stock. 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 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 of the company's stock, valued at $13,491,148.92. The trade was a 24.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold 415,387 shares of company stock valued at $29,923,985 over the last quarter. 0.90% of the stock is currently owned by insiders.

CocaCola Price Performance

NYSE KO traded down $0.71 during trading hours on Wednesday, reaching $69.53. The company's stock had a trading volume of 33,690,781 shares, compared to its average volume of 16,278,755. The firm has a market capitalization of $299.28 billion, a price-to-earnings ratio of 27.81, a P/E/G ratio of 3.72 and a beta of 0.45. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.10 and a quick ratio of 0.89. The company's 50-day moving average is $71.02 and its two-hundred day moving average is $68.71.

CocaCola (NYSE:KO - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates of $0.71 by $0.02. The company had revenue of $11.13 billion during the quarter, compared to analysts' expectations of $11.23 billion. CocaCola had a return on equity of 45.49% and a net margin of 23.00%. CocaCola's quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.72 EPS. On average, equities analysts predict that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were issued a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.93%. CocaCola's payout ratio is currently 81.60%.

Analyst Upgrades and Downgrades

A number of research firms have commented on KO. Morgan Stanley reiterated an "overweight" rating and issued a $81.00 price target on shares of CocaCola in a research note on Monday, June 9th. Royal Bank Of Canada increased their price target on CocaCola from $73.00 to $76.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Cfra Research upgraded CocaCola to a "strong-buy" rating in a research note on Tuesday, April 15th. JPMorgan Chase & Co. boosted their price target on CocaCola from $74.00 to $78.00 and gave the company an "overweight" rating in a research note on Monday, April 21st. Finally, Barclays reiterated an "overweight" rating on shares of CocaCola in a research note on Thursday, March 27th. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, CocaCola has an average rating of "Buy" and a consensus target price of $76.27.

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.