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

Flossbach Von Storch SE lessened its position in CocaCola Company (The) (NYSE:KO) by 13.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 863,021 shares of the company’s stock after selling 130,087 shares during the period. Flossbach Von Storch SE’s holdings in CocaCola were worth $61,059,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in KO. 1248 Management LLC acquired a new position in CocaCola during the 1st quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd boosted its position in shares of CocaCola by 5,142.9% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock worth $26,000 after purchasing an additional 360 shares in the last quarter. 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. GFG Capital LLC purchased a new position in CocaCola in the second quarter valued at about $34,000. Finally, MMA Asset Management LLC acquired a new stake in shares of CocaCola during the 2nd quarter valued at approximately $34,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on KO shares. TD Cowen upped their price target on CocaCola from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Wells Fargo & Company upped their target price on CocaCola from $75.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Piper Sandler raised their price target on CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Cowen reiterated a “buy” rating on shares of CocaCola in a research report on Wednesday, October 22nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating and sixteen have issued a Buy rating to the stock. According to MarketBeat, CocaCola currently has an average rating of “Buy” and a consensus price target of $78.43.

Insiders Place Their Bets

In other news, EVP Monica Howard Douglas sold 13,548 shares of the business’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $69.93, for a total transaction of $947,411.64. Following the completion of the sale, the executive vice president directly owned 37,725 shares of the company’s stock, valued at $2,638,109.25. The trade was a 26.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Max R. Levchin acquired 7,206 shares of the company’s stock in a transaction dated Friday, October 24th. The shares were purchased at an average price of $69.87 per share, with a total value of $503,483.22. Following the completion of the acquisition, the director owned 14,267 shares in the company, valued at approximately $996,835.29. The trade was a 102.05% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.97% of the stock is owned by company insiders.

CocaCola Stock Performance

NYSE KO opened at $70.61 on Friday. The business’s 50-day moving average price is $67.75 and its 200 day moving average price is $69.53. The company has a current ratio of 1.21, a quick ratio of 1.00 and a debt-to-equity ratio of 1.30. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The company has a market capitalization of $303.75 billion, a PE ratio of 23.38, a price-to-earnings-growth ratio of 3.57 and a beta of 0.43.

CocaCola (NYSE:KO) last posted its quarterly earnings data on Thursday, March 27th. The company reported $0.55 EPS for the quarter. The company had revenue of $11.40 billion during the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. On average, research analysts predict that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.04 dividend on an annualized basis and a yield of 2.9%. CocaCola’s dividend payout ratio (DPR) is currently 67.55%.

CocaCola 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.