Flossbach Von Storch AG boosted its holdings in Coca-Cola Co (The) (NYSE:KO) by 753.3% in the first quarter, HoldingsChannel.com reports. The firm owned 5,443,869 shares of the company’s stock after buying an additional 4,805,893 shares during the quarter. Coca-Cola comprises about 1.6% of Flossbach Von Storch AG’s investment portfolio, making the stock its 18th largest holding. Flossbach Von Storch AG’s holdings in Coca-Cola were worth $240,891,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. SignalPoint Asset Management LLC increased its position in Coca-Cola by 2.8% during the 4th quarter. SignalPoint Asset Management LLC now owns 6,443 shares of the company’s stock worth $357,000 after purchasing an additional 174 shares in the last quarter. Weaver Consulting Group boosted its stake in Coca-Cola by 4.1% in the 4th quarter. Weaver Consulting Group now owns 4,816 shares of the company’s stock worth $262,000 after buying an additional 188 shares during the last quarter. Financial Advisory Service Inc. boosted its stake in Coca-Cola by 1.0% in the 4th quarter. Financial Advisory Service Inc. now owns 19,770 shares of the company’s stock worth $1,094,000 after buying an additional 189 shares during the last quarter. Versant Capital Management Inc boosted its stake in Coca-Cola by 3.7% in the 4th quarter. Versant Capital Management Inc now owns 5,400 shares of the company’s stock worth $298,000 after buying an additional 195 shares during the last quarter. Finally, Orser Capital Management LLC boosted its stake in Coca-Cola by 4.6% in the 4th quarter. Orser Capital Management LLC now owns 4,539 shares of the company’s stock worth $251,000 after buying an additional 200 shares during the last quarter. 67.93% of the stock is owned by hedge funds and other institutional investors.
In other Coca-Cola news, SVP Lisa Chang acquired 1,650 shares of the company’s stock in a transaction on Monday, April 27th. The shares were bought at an average cost of $46.74 per share, for a total transaction of $77,121.00. Following the acquisition, the senior vice president now directly owns 5,826 shares of the company’s stock, valued at $272,307.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James Quincey sold 66,673 shares of Coca-Cola stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $59.08, for a total value of $3,939,040.84. Following the sale, the chief executive officer now owns 467,407 shares in the company, valued at $27,614,405.56. The disclosure for this sale can be found here. 1.01% of the stock is owned by insiders.
Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, April 21st. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.44 by $0.07. The business had revenue of $8.60 billion for the quarter, compared to the consensus estimate of $8.32 billion. Coca-Cola had a return on equity of 45.26% and a net margin of 26.95%. The company’s revenue was up 7.2% on a year-over-year basis. During the same period last year, the business posted $0.48 EPS. Equities research analysts expect that Coca-Cola Co will post 1.87 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Friday, June 12th. This represents a $1.64 annualized dividend and a yield of 3.64%. Coca-Cola’s dividend payout ratio is presently 77.73%.
A number of brokerages have issued reports on KO. Cfra decreased their price target on Coca-Cola from $60.00 to $55.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, April 21st. DZ Bank raised Coca-Cola from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a research note on Wednesday, March 25th. Citigroup decreased their price target on Coca-Cola from $63.00 to $51.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 22nd. Jefferies Financial Group decreased their price target on Coca-Cola from $48.00 to $47.00 and set a “hold” rating on the stock in a research note on Wednesday, April 22nd. Finally, Barclays reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Coca-Cola in a research note on Thursday, April 23rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $54.55.
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plant-based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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