Flossbach Von Storch SE Cuts Stake in CocaCola Company (The) (NYSE:KO)

Flossbach Von Storch SE lessened its position in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 10.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 993,108 shares of the company's stock after selling 117,561 shares during the quarter. Flossbach Von Storch SE's holdings in CocaCola were worth $71,126,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sage Financial Management Group Inc. acquired a new stake in shares of CocaCola in the first quarter valued at about $216,000. Voleon Capital Management LP acquired a new stake in shares of CocaCola in the fourth quarter valued at about $2,513,000. Cornerstone Wealth Management LLC grew its position in shares of CocaCola by 3.3% in the first quarter. Cornerstone Wealth Management LLC now owns 121,279 shares of the company's stock valued at $8,686,000 after purchasing an additional 3,920 shares during the period. Clark Capital Management Group Inc. grew its position in shares of CocaCola by 31.8% in the fourth quarter. Clark Capital Management Group Inc. now owns 848,868 shares of the company's stock valued at $52,851,000 after purchasing an additional 204,681 shares during the period. Finally, StoneX Group Inc. grew its position in shares of CocaCola by 80.0% in the fourth quarter. StoneX Group Inc. now owns 51,775 shares of the company's stock valued at $3,224,000 after purchasing an additional 23,009 shares during the period. Institutional investors and hedge funds own 70.26% of the company's stock.

Insider Buying and Selling

In related news, 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 transaction of $4,335,629.62. Following the completion of the transaction, the executive vice president owned 187,716 shares of the company's stock, valued at approximately $13,491,148.92. This trade represents a 24.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO John Murphy sold 88,658 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the transaction, the chief financial officer directly owned 205,511 shares of the company's stock, valued at $14,815,287.99. The trade was a 30.14% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 415,387 shares of company stock valued at $29,923,985. Company insiders own 0.97% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on KO shares. JPMorgan Chase & Co. lifted their target price on shares of CocaCola from $74.00 to $78.00 and gave the company an "overweight" rating in a research report on Monday, April 21st. Morgan Stanley reissued an "overweight" rating and issued a $81.00 price target on shares of CocaCola in a research note on Monday, June 9th. Cfra Research raised shares of CocaCola to a "strong-buy" rating in a research note on Tuesday, April 15th. UBS Group raised their price target on shares of CocaCola from $84.00 to $86.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Finally, Barclays reissued an "overweight" rating on shares of CocaCola in a research note on Thursday, March 27th. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, CocaCola has an average rating of "Buy" and an average target price of $76.27.

CocaCola Trading Up 0.5%

KO stock traded up $0.32 during trading on Thursday, reaching $69.80. 14,593,645 shares of the stock were exchanged, compared to its average volume of 16,304,017. The company has a current ratio of 1.10, a quick ratio of 0.89 and a debt-to-equity ratio of 1.57. The business has a 50 day moving average price of $70.93 and a 200-day moving average price of $68.77. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The firm has a market capitalization of $300.46 billion, a price-to-earnings ratio of 27.92, a P/E/G ratio of 3.64 and a beta of 0.45.

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

CocaCola Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were given a dividend of $0.51 per share. The ex-dividend date was Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.92%. CocaCola's payout ratio is currently 81.60%.

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.