CocaCola Company (The) (NYSE:KO) Shares Acquired by E Fund Management Co. Ltd.

Key Points

• E Fund Management Co. Ltd. increased its stake in Coca-Cola by 22.1%, now owning 53,627 shares valued at $3,841,000 as of the latest quarterly report.
• CEO James Quincey sold 266,403 shares of Coca-Cola at an average price of $72.06, significantly reducing his ownership by 49.12%.
• Coca-Cola's latest earnings report showed an EPS of $0.87, exceeding expectations, with a quarterly revenue of $12.50 billion, reflecting a 2.5% year-over-year growth.

E Fund Management Co. Ltd. raised its position in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 22.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,627 shares of the company's stock after acquiring an additional 9,708 shares during the period. E Fund Management Co. Ltd.'s holdings in CocaCola were worth $3,841,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Brighton Jones LLC increased its position in CocaCola by 13.3% during the fourth quarter. Brighton Jones LLC now owns 39,072 shares of the company's stock valued at $2,433,000 after acquiring an additional 4,591 shares during the last quarter. Revolve Wealth Partners LLC increased its position in CocaCola by 3.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company's stock valued at $548,000 after acquiring an additional 293 shares during the last quarter. Bank Pictet & Cie Europe AG increased its position in CocaCola by 12.2% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 19,102 shares of the company's stock valued at $1,189,000 after acquiring an additional 2,072 shares during the last quarter. Renaissance Technologies LLC increased its position in CocaCola by 59.6% during the fourth quarter. Renaissance Technologies LLC now owns 5,013 shares of the company's stock valued at $310,000 after acquiring an additional 1,873 shares during the last quarter. Finally, Mariner LLC increased its stake in CocaCola by 7.5% in the fourth quarter. Mariner LLC now owns 1,404,724 shares of the company's stock worth $87,458,000 after purchasing an additional 97,901 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total value of $2,584,063.60. Following the transaction, the insider owned 209,513 shares in the company, valued at $14,477,348.30. The trade was a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James Quincey sold 266,403 shares of CocaCola stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $72.06, for a total value of $19,197,000.18. Following the completion of the transaction, the chief executive officer owned 275,946 shares in the company, valued at $19,884,668.76. This trade represents a 49.12% decrease in their position. The disclosure for this sale can be found here. 0.97% of the stock is owned by insiders.

CocaCola Stock Down 1.3%

Shares of CocaCola stock traded down $0.89 during trading on Thursday, hitting $69.57. 10,708,941 shares of the stock traded hands, compared to its average volume of 14,306,699. The firm has a market cap of $299.40 billion, a P/E ratio of 24.67, a price-to-earnings-growth ratio of 3.67 and a beta of 0.44. 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 52-week low of $60.62 and a 52-week high of $74.38. The stock's fifty day simple moving average is $70.05 and its 200 day simple moving average is $70.06.

CocaCola (NYSE:KO - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.83 by $0.04. The firm had revenue of $12.50 billion for the quarter, compared to analyst estimates of $12.55 billion. CocaCola had a return on equity of 44.91% and a net margin of 25.89%. The business's revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.84 earnings per share. On average, equities analysts predict that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The business also recently announced 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. This represents a $2.04 annualized dividend and a yield of 2.9%. The ex-dividend date is Monday, September 15th. CocaCola's payout ratio is 72.34%.

Analyst Ratings Changes

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

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.