Deutsche Bank AG Boosts Stake in CocaCola Company (The) (NYSE:KO)

Key Points

• Deutsche Bank AG increased its stake in Coca-Cola by 8.0%, acquiring an additional 988,201 shares to hold a total of 13,376,070 shares worth approximately $957.99 million.
• Coca-Cola's CEO, James Quincey, sold 266,403 shares at an average price of $72.06, resulting in a transaction valued at about $19.19 million, which reduced his ownership by 49.12%.
• Currently, Coca-Cola has a consensus rating of "Buy" from analysts, with a price target averaging $77.21, reflecting positive sentiment towards the stock despite some recent target price adjustments.

Deutsche Bank AG raised its stake in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 8.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,376,070 shares of the company's stock after buying an additional 988,201 shares during the quarter. Deutsche Bank AG owned about 0.31% of CocaCola worth $957,994,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in KO. MorganRosel Wealth Management LLC purchased a new position in shares of CocaCola during the first quarter valued at approximately $25,000. Garde Capital Inc. purchased a new position in shares of CocaCola during the 1st quarter worth $30,000. Mizuho Securities Co. Ltd. boosted its holdings in shares of CocaCola by 360.0% during the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock worth $33,000 after purchasing an additional 360 shares during the last quarter. Ridgewood Investments LLC grew 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 purchasing an additional 285 shares during the period. Finally, Moser Wealth Advisors LLC increased its stake in CocaCola by 449.5% in the first quarter. Moser Wealth Advisors LLC now owns 500 shares of the company's stock valued at $36,000 after purchasing an additional 409 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at CocaCola

In other news, CEO James Quincey sold 266,403 shares of the business's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the transaction, the chief executive officer directly 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.97% of the stock is owned by company insiders.

Analyst Ratings Changes

KO has been the topic of a number of research analyst reports. Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the stock an "outperform" rating in a research note on Monday, July 21st. BNP Paribas reissued an "outperform" rating and issued a $83.00 target price on shares of CocaCola in a research report on Monday, July 21st. Cfra Research raised shares of CocaCola to a "strong-buy" rating in a research report on Tuesday, April 15th. Morgan Stanley reaffirmed an "overweight" rating and set a $81.00 price target on shares of CocaCola in a research note on Monday, June 9th. Finally, UBS Group lowered their price objective 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 research analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $77.21.

CocaCola Stock Up 0.6%

Shares of NYSE KO opened at $69.49 on Thursday. The stock has a fifty day moving average price of $70.19 and a 200 day moving average price of $69.73. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.49. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The company has a market cap of $299.07 billion, a P/E ratio of 24.64, a P/E/G ratio of 3.59 and a beta of 0.44.

CocaCola (NYSE:KO - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.04. CocaCola had a return on equity of 44.91% and a net margin of 25.89%. The company had revenue of $12.50 billion during the quarter, compared to the consensus estimate of $12.55 billion. During the same quarter in the prior year, the business earned $0.84 earnings per share. The company's revenue was up 2.5% compared to the same quarter last year. Research analysts anticipate that CocaCola Company will post 2.96 EPS for the current fiscal 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 given 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 2.9%. CocaCola's dividend payout ratio (DPR) is 72.34%.

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.

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