Skandinaviska Enskilda Banken AB publ Increases Stake in CocaCola Company (The) (NYSE:KO)

Key Points

• Skandinaviska Enskilda Banken AB increased its stake in CocaCola by 0.9% during Q1, owning 919,252 shares valued at approximately $65.9 million.
• CocaCola reported an EPS of $0.87 for the latest quarter, surpassing estimates of $0.83, with a net margin of 25.89%.
• The company will distribute a quarterly dividend of $0.51 on October 1st, reflecting an annualized yield of 2.95%.

Skandinaviska Enskilda Banken AB publ grew its holdings in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 0.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 919,252 shares of the company's stock after purchasing an additional 8,016 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in CocaCola were worth $65,901,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of KO. MorganRosel Wealth Management LLC acquired a new stake in CocaCola in the 1st quarter worth about $25,000. Garde Capital Inc. purchased a new position in shares of CocaCola in the 1st quarter worth about $30,000. Mizuho Securities Co. Ltd. raised its holdings in shares of CocaCola by 360.0% during the 1st quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock valued at $33,000 after buying an additional 360 shares during the period. REAP Financial Group LLC raised its holdings in shares of CocaCola by 57.5% during the 4th quarter. REAP Financial Group LLC now owns 570 shares of the company's stock valued at $35,000 after buying an additional 208 shares during the period. Finally, Moser Wealth Advisors LLC raised its holdings in shares of CocaCola by 449.5% during the 1st quarter. Moser Wealth Advisors LLC now owns 500 shares of the company's stock valued at $36,000 after buying an additional 409 shares during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

CocaCola Price Performance

Shares of NYSE:KO traded down $0.86 during trading on Monday, hitting $68.31. 6,335,502 shares of the company were exchanged, compared to its average volume of 17,293,098. The company has a market capitalization of $294.02 billion, a P/E ratio of 24.20, a price-to-earnings-growth ratio of 3.60 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 business's 50 day moving average is $70.64 and its 200-day moving average is $69.45. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49.

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, topping analysts' consensus estimates of $0.83 by $0.04. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The company had revenue of $12.50 billion for the quarter, compared to analyst estimates of $12.55 billion. During the same quarter in the prior year, the business posted $0.84 EPS. The firm's revenue was up 2.5% compared to the same quarter last year. Equities analysts forecast that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.04 annualized dividend and a yield of 2.99%. CocaCola's dividend payout ratio (DPR) is 72.34%.

Analyst Upgrades and Downgrades

KO has been the subject of several research reports. Cfra Research upgraded CocaCola to a "strong-buy" rating in a research report on Tuesday, April 15th. BNP Paribas restated an "outperform" rating and issued a $83.00 target price on shares of CocaCola in a research note on Monday, July 21st. Morgan Stanley reissued an "overweight" rating and set a $81.00 price objective on shares of CocaCola in a research report on Monday, June 9th. UBS Group cut their price target on CocaCola from $86.00 to $84.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. Finally, Royal Bank Of Canada set a $76.00 target price on CocaCola and gave the stock an "outperform" rating in a report on Monday, July 21st. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $77.21.

Insider Buying and Selling at CocaCola

In other news, EVP Beatriz R. Perez sold 60,326 shares of the firm'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 transaction of $4,335,629.62. Following the completion of the sale, the executive vice president owned 187,716 shares in the company, valued at $13,491,148.92. This trade represents a 24.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO James Quincey sold 266,403 shares of the firm's 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 sale, the chief executive officer owned 275,946 shares of the company's stock, valued at approximately $19,884,668.76. The trade was a 49.12% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 415,387 shares of company stock worth $29,923,985. Insiders own 0.90% of the company's stock.

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.