LGT Group Foundation Acquires 409,445 Shares of CocaCola Company (The) (NYSE:KO)

Key Points

• LGT Group Foundation increased its stake in Coca-Cola by 46.2% during the first quarter, owning approximately 1.3% of its total holdings in the company, valued at about $92.76 million.
• Several hedge funds have also shown interest in Coca-Cola, with notable recent acquisitions and increases in holdings by firms like Mizuho Securities and Ridgewood Investments.
• Coca-Cola has declared a quarterly dividend of $0.51 per share, with an annualized dividend yield of 2.9%, highlighting the company's commitment to returning value to its shareholders.

LGT Group Foundation boosted its position in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 46.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,295,205 shares of the company's stock after purchasing an additional 409,445 shares during the period. CocaCola makes up 1.3% of LGT Group Foundation's holdings, making the stock its 18th biggest holding. LGT Group Foundation's holdings in CocaCola were worth $92,763,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. MorganRosel Wealth Management LLC purchased a new stake in shares of CocaCola during the 1st quarter worth approximately $25,000. Garde Capital Inc. purchased a new position in CocaCola during the 1st quarter worth $30,000. Mizuho Securities Co. Ltd. grew its stake in shares of CocaCola by 360.0% during the 1st 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 period. Ridgewood Investments LLC grew its stake in shares of CocaCola by 148.4% during the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company's stock worth $34,000 after purchasing an additional 285 shares during the period. Finally, REAP Financial Group LLC grew its stake in shares of CocaCola by 57.5% during the 4th quarter. REAP Financial Group LLC now owns 570 shares of the company's stock worth $35,000 after purchasing an additional 208 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

KO has been the topic of several analyst reports. JPMorgan Chase & Co. raised their price target on shares of CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Morgan Stanley restated an "overweight" rating and issued a $81.00 price target on shares of CocaCola in a report on Monday, June 9th. BNP Paribas reaffirmed an "outperform" rating and issued a $83.00 price objective on shares of CocaCola in a research report on Monday, July 21st. 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 report on Wednesday, July 23rd. Finally, Royal Bank Of Canada set a $76.00 price target on shares of CocaCola and gave the stock an "outperform" rating in a research report on Monday, July 21st. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $77.21.

Insiders Place Their Bets

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

CocaCola Stock Down 0.8%

Shares of CocaCola stock traded down $0.57 during trading on Thursday, hitting $69.89. 1,055,397 shares of the stock traded hands, compared to its average volume of 16,864,895. The stock has a market cap of $300.78 billion, a P/E ratio of 24.78, a PEG ratio of 3.68 and a beta of 0.44. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.98 and a current ratio of 1.21. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The company has a fifty day moving average price of $70.08 and a two-hundred day moving average price of $70.02.

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 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 firm had revenue of $12.50 billion during the quarter, compared to analyst estimates of $12.55 billion. During the same period in the previous year, the company earned $0.84 EPS. The company's revenue for the quarter was up 2.5% on a year-over-year basis. Equities research analysts predict that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Monday, September 15th. CocaCola's dividend payout ratio is presently 72.34%.

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.