Swiss National Bank Sells 581,200 Shares of The Coca-Cola Company (NYSE:KO)

Swiss National Bank lessened its stake in shares of The Coca-Cola Company (NYSE:KO) by 4.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 11,566,500 shares of the company’s stock after selling 581,200 shares during the period. Coca-Cola accounts for 0.5% of Swiss National Bank’s holdings, making the stock its 25th biggest position. Swiss National Bank’s holdings in Coca-Cola were worth $720,130,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Rakuten Securities Inc. increased its stake in shares of Coca-Cola by 103.1% in the fourth quarter. Rakuten Securities Inc. now owns 4,516 shares of the company’s stock worth $281,000 after purchasing an additional 2,292 shares in the last quarter. Essential Planning LLC. bought a new position in Coca-Cola in the 4th quarter worth $10,232,000. Liberty Wealth Management LLC increased its stake in Coca-Cola by 2.5% in the 4th quarter. Liberty Wealth Management LLC now owns 8,995 shares of the company’s stock worth $560,000 after buying an additional 216 shares in the last quarter. Great Lakes Advisors LLC increased its stake in Coca-Cola by 21.2% in the 4th quarter. Great Lakes Advisors LLC now owns 18,010 shares of the company’s stock worth $1,121,000 after buying an additional 3,148 shares in the last quarter. Finally, Truvestments Capital LLC raised its holdings in Coca-Cola by 7.9% during the fourth quarter. Truvestments Capital LLC now owns 47,144 shares of the company’s stock valued at $2,935,000 after acquiring an additional 3,436 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Trading Down 1.5 %

Shares of KO stock opened at $69.95 on Thursday. The company has a market cap of $300.83 billion, a PE ratio of 28.32, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53. The stock’s 50 day simple moving average is $65.87 and its two-hundred day simple moving average is $66.61. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. Research analysts predict that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio (DPR) is 82.59%.

Analyst Ratings Changes

Several research firms recently issued reports on KO. DZ Bank upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Thursday, February 13th. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Wednesday, January 8th. UBS Group lifted their price objective on shares of Coca-Cola from $72.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. dropped their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Finally, Morgan Stanley raised their target price on shares of Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $74.24.

Insider Buying and Selling

In other news, CEO James Quincey sold 145,435 shares of Coca-Cola stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total transaction of $10,327,339.35. Following the completion of the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $24,324,191.46. This trade represents a 29.80 % 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 link. Also, insider Nikolaos Koumettis sold 55,500 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $71.01, for a total transaction of $3,941,055.00. Following the completion of the transaction, the insider now owns 246,909 shares in the company, valued at approximately $17,533,008.09. The trade was a 18.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 288,146 shares of company stock valued at $20,456,524. Company insiders own 0.97% of the company’s stock.

Coca-Cola Company 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.