CocaCola Company (The) $KO Shares Sold by DekaBank Deutsche Girozentrale

Key Points

• DekaBank Deutsche Girozentrale reduced its stake in CocaCola by 0.7%, selling 53,634 shares and now holding approximately $536.99 million worth of stock.
• Recent analyst reports show a mix of ratings for CocaCola, with BNP Paribas maintaining an "outperform" rating and setting a target price at $83.00, while Wells Fargo lowered its target from $78.00 to $75.00.
• CocaCola recently announced a quarterly dividend of $0.51 per share, with a dividend yield of 3.0%, reflecting strong ongoing profitability amid its operations.

DekaBank Deutsche Girozentrale cut its stake in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 0.7% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 7,616,417 shares of the company's stock after selling 53,634 shares during the period. CocaCola comprises about 1.0% of DekaBank Deutsche Girozentrale's holdings, making the stock its 15th biggest holding. DekaBank Deutsche Girozentrale owned 0.18% of CocaCola worth $536,991,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC acquired a new position in CocaCola during the first quarter worth $25,000. 1248 Management LLC acquired a new stake in shares of CocaCola in the first quarter valued at about $26,000. Garde Capital Inc. acquired a new stake in shares of CocaCola in the first quarter valued at about $30,000. Ridgewood Investments LLC raised its position in shares of 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 buying an additional 285 shares during the last quarter. Finally, GFG Capital LLC acquired a new stake in shares of CocaCola in the second quarter valued at about $34,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

KO has been the subject of a number of recent research reports. BNP Paribas reiterated an "outperform" rating and issued a $83.00 target price on shares of CocaCola in a research report on Monday, July 21st. Wells Fargo & Company dropped their price objective on shares of CocaCola from $78.00 to $75.00 and set an "overweight" rating for the company in a report on Thursday, September 25th. UBS Group dropped their price objective on shares of CocaCola from $84.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, September 11th. Weiss Ratings reissued a "buy (b-)" rating on shares of CocaCola in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. upped their price objective on shares of CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $76.69.

Insider Activity

In other news, insider Nikolaos Koumettis sold 37,396 shares of the stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total transaction of $2,584,063.60. Following the sale, the insider owned 209,513 shares of the company's stock, valued at approximately $14,477,348.30. This represents a 15.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.90% of the company's stock.

CocaCola Trading Up 1.3%

NYSE KO opened at $68.45 on Monday. The firm's 50-day moving average is $67.84 and its two-hundred day moving average is $69.69. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38. 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 stock has a market capitalization of $294.60 billion, a P/E ratio of 24.27, a PEG ratio of 3.57 and a beta of 0.43.

CocaCola (NYSE:KO - Get Free Report) last posted its earnings results on Thursday, March 27th. The company reported $0.55 EPS for the quarter. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The company had revenue of $11.40 billion for the quarter. On average, sell-side analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Monday, December 1st. CocaCola's dividend payout ratio is currently 72.34%.

About CocaCola

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.