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Swiss National Bank Lowers Position in CocaCola Company (The) (NYSE:KO)

CocaCola logo with Consumer Staples background

Key Points

  • The Swiss National Bank reduced its stake in CocaCola Company by 0.2%, selling 24,400 shares, and now holds about 0.27% of CocaCola, valued at approximately $826.6 million.
  • Despite the stake reduction by the Swiss National Bank, several institutional investors increased their holdings in CocaCola, indicating continued interest and investment in the company.
  • CocaCola announced a quarterly dividend of $0.51, with a scheduled payment date on October 1, representing an annualized dividend yield of 2.9%.
  • Looking to Export and Analyze CocaCola Data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Swiss National Bank lowered its holdings in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 0.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,542,100 shares of the company's stock after selling 24,400 shares during the period. CocaCola accounts for 0.6% of Swiss National Bank's investment portfolio, making the stock its 23rd largest holding. Swiss National Bank owned 0.27% of CocaCola worth $826,645,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of KO. Brighton Jones LLC boosted its stake in CocaCola by 13.3% during the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company's stock worth $2,433,000 after purchasing an additional 4,591 shares during the period. Revolve Wealth Partners LLC lifted its stake in shares of CocaCola by 3.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company's stock worth $548,000 after acquiring an additional 293 shares during the period. Bank Pictet & Cie Europe AG lifted its stake in shares of CocaCola by 12.2% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 19,102 shares of the company's stock worth $1,189,000 after acquiring an additional 2,072 shares during the period. Renaissance Technologies LLC lifted its stake in shares of CocaCola by 59.6% in the 4th quarter. Renaissance Technologies LLC now owns 5,013 shares of the company's stock worth $310,000 after acquiring an additional 1,873 shares during the period. Finally, DRW Securities LLC lifted its stake in shares of CocaCola by 294.8% in the 4th quarter. DRW Securities LLC now owns 17,153 shares of the company's stock worth $1,068,000 after acquiring an additional 12,808 shares during the period. Institutional investors and hedge funds own 70.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. UBS Group reduced their target price 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. BNP Paribas restated an "outperform" rating and issued a $83.00 target price on shares of CocaCola in a research note on Monday, July 21st. Morgan Stanley restated an "overweight" rating and issued a $81.00 target price on shares of CocaCola in a research note on Monday, June 9th. Cfra Research upgraded shares of CocaCola to a "strong-buy" rating in a research note on Tuesday, April 15th. Finally, Royal Bank Of Canada set a $76.00 target price on shares of CocaCola and gave the stock an "outperform" rating in a research note on Monday, July 21st. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $77.21.

Read Our Latest Research Report on KO

Insider Transactions at CocaCola

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

CocaCola Price Performance

Shares of NYSE KO traded down $0.11 during midday trading on Friday, hitting $70.32. The company had a trading volume of 9,229,863 shares, compared to its average volume of 14,864,419. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. The business has a 50-day simple moving average of $70.13 and a two-hundred day simple moving average of $69.89. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The firm has a market capitalization of $302.63 billion, a price-to-earnings ratio of 24.94, a price-to-earnings-growth ratio of 3.66 and a beta of 0.44.

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, beating the consensus estimate of $0.83 by $0.04. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The firm had revenue of $12.50 billion during the quarter, compared to the consensus estimate of $12.55 billion. During the same period last year, the firm posted $0.84 EPS. The firm's revenue for the quarter was up 2.5% on a year-over-year basis. Equities research analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Dividend Announcement

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

CocaCola Company Profile

(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.

Further Reading

Institutional Ownership by Quarter for CocaCola (NYSE:KO)

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