Bank Julius Baer & Co. Ltd Zurich Decreases Stock Holdings in CocaCola Company (The) $KO

Bank Julius Baer & Co. Ltd Zurich lessened its stake in CocaCola Company (The) (NYSE:KO) by 6.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,172,365 shares of the company’s stock after selling 227,601 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich owned approximately 0.07% of CocaCola worth $224,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. 1248 Management LLC purchased a new position in CocaCola in the 1st quarter valued at about $26,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of CocaCola by 5,142.9% during the second quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock valued at $26,000 after acquiring an additional 360 shares during the last quarter. Ridgewood Investments LLC lifted its position in shares of CocaCola by 148.4% in the first quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock valued at $34,000 after acquiring an additional 285 shares in the last quarter. MMA Asset Management LLC acquired a new stake in shares of CocaCola in the second quarter worth approximately $34,000. Finally, GFG Capital LLC purchased a new stake in shares of CocaCola during the second quarter worth approximately $34,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at CocaCola

In other CocaCola news, EVP Nancy Quan sold 31,625 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $71.17, for a total value of $2,250,751.25. Following the transaction, the executive vice president owned 223,330 shares of the company’s stock, valued at $15,894,396.10. This represents a 12.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Henrique Braun sold 40,390 shares of the stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $70.93, for a total transaction of $2,864,862.70. Following the transaction, the chief operating officer directly owned 62,621 shares of the company’s stock, valued at approximately $4,441,707.53. This trade represents a 39.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 225,252 shares of company stock worth $15,953,007 in the last 90 days. Insiders own 0.97% of the company’s stock.

CocaCola Stock Up 2.5%

Shares of NYSE KO opened at $72.96 on Monday. The company has a market capitalization of $313.85 billion, a P/E ratio of 24.16, a P/E/G ratio of 3.57 and a beta of 0.43. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.21 and a quick ratio of 1.00. The company has a 50 day simple moving average of $68.39 and a 200-day simple moving average of $69.46. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38.

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

CocaCola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, December 1st. CocaCola’s dividend payout ratio (DPR) is presently 67.55%.

Analysts Set New Price Targets

Several brokerages have issued reports on KO. Bank of America lifted their target price on shares of CocaCola from $78.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Cowen restated a “buy” rating on shares of CocaCola in a research report on Wednesday, October 22nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CocaCola in a research note on Wednesday, October 8th. UBS Group decreased their target price on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, September 11th. Finally, Barclays restated an “overweight” rating on shares of CocaCola in a research report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating and sixteen have assigned a Buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $78.43.

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.