MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH reduced its stake in The Coca-Cola Company (NYSE:KO - Free Report) by 69.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 3,425 shares of the company's stock after selling 7,720 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in Coca-Cola were worth $245,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. lifted its holdings in Coca-Cola by 18.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company's stock worth $4,617,400,000 after purchasing an additional 11,569,920 shares during the last quarter. Norges Bank bought a new position in Coca-Cola in the 4th quarter worth approximately $3,402,151,000. Northern Trust Corp increased its position in Coca-Cola by 9.5% in the 4th quarter. Northern Trust Corp now owns 43,802,296 shares of the company's stock worth $2,727,131,000 after buying an additional 3,811,756 shares during the period. Franklin Resources Inc. increased its position in Coca-Cola by 21.9% in the 4th quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company's stock worth $2,123,301,000 after buying an additional 6,118,819 shares during the period. Finally, Capital International Investors increased its position in Coca-Cola by 96.0% in the 4th quarter. Capital International Investors now owns 24,949,194 shares of the company's stock worth $1,553,337,000 after buying an additional 12,222,885 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.
Coca-Cola Stock Performance
Shares of NYSE:KO opened at $70.94 on Monday. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. The stock has a market capitalization of $305.36 billion, a price-to-earnings ratio of 28.72, a price-to-earnings-growth ratio of 3.79 and a beta of 0.46. The business's fifty day moving average price is $71.56 and its two-hundred day moving average price is $67.89. The Coca-Cola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38.
Coca-Cola (NYSE:KO - Get Free Report) last posted its quarterly earnings data 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 analyst estimates of $11.23 billion. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The business's revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.72 earnings per share. As a group, analysts predict that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.
Coca-Cola Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola's dividend payout ratio is currently 81.60%.
Insiders Place Their Bets
In other Coca-Cola news, EVP Beatriz R. Perez sold 60,326 shares of the business's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $71.87, for a total value of $4,335,629.62. Following the transaction, the executive vice president now owns 187,716 shares of the company's stock, valued at approximately $13,491,148.92. The trade was a 24.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO John Murphy sold 88,658 shares of the company's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total value of $6,391,355.22. Following the transaction, the chief financial officer now directly owns 205,511 shares in the company, valued at $14,815,287.99. This trade represents a 30.14% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 415,387 shares of company stock valued at $29,923,985. 0.97% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
Several brokerages have commented on KO. Barclays reaffirmed an "overweight" rating on shares of Coca-Cola in a research report on Thursday, March 27th. Cfra Research raised Coca-Cola to a "strong-buy" rating in a research report on Tuesday, April 15th. Royal Bank of Canada boosted their price objective on Coca-Cola from $73.00 to $76.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Morgan Stanley restated an "overweight" rating and set a $81.00 price objective on shares of Coca-Cola in a research report on Monday, June 9th. Finally, Piper Sandler boosted their price objective on Coca-Cola from $73.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, February 28th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Coca-Cola presently has a consensus rating of "Buy" and an average price target of $76.00.
Read Our Latest Analysis on Coca-Cola
About Coca-Cola
(
Free Report)
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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