Skandinaviska Enskilda Banken AB publ Sells 83,423 Shares of CocaCola Company (The) $KO

by · The Cerbat Gem

Skandinaviska Enskilda Banken AB publ lessened its stake in CocaCola Company (The) (NYSE:KO – Free Report) by 9.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 835,829 shares of the company’s stock after selling 83,423 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in CocaCola were worth $59,147,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Colonial Trust Advisors grew its position in shares of CocaCola by 4.5% in the 2nd quarter. Colonial Trust Advisors now owns 196,382 shares of the company’s stock worth $13,894,000 after buying an additional 8,402 shares during the last quarter. Norges Bank purchased a new stake in CocaCola during the second quarter valued at approximately $3,846,270,000. Measured Wealth Private Client Group LLC purchased a new stake in CocaCola during the second quarter valued at approximately $223,000. Level Four Advisory Services LLC lifted its position in CocaCola by 1.5% during the second quarter. Level Four Advisory Services LLC now owns 102,425 shares of the company’s stock valued at $7,247,000 after acquiring an additional 1,482 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in CocaCola by 2.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 824,684 shares of the company’s stock valued at $58,346,000 after acquiring an additional 18,136 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

KO has been the topic of several analyst reports. Cowen reaffirmed a “buy” rating on shares of CocaCola in a report on Wednesday, October 22nd. Evercore ISI restated an “outperform” rating on shares of CocaCola in a research note on Tuesday, October 21st. TD Cowen upped their target price on CocaCola from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Barclays reiterated an “overweight” rating on shares of CocaCola in a research note on Thursday, October 23rd. Finally, Wells Fargo & Company boosted their price target on CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating and sixteen have assigned a Buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $78.43.

Read Our Latest Analysis on CocaCola

CocaCola Stock Up 0.6%

CocaCola stock opened at $73.02 on Friday. The business’s 50-day simple moving average is $68.90 and its two-hundred day simple moving average is $69.53. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.00 and a current ratio of 1.21. The company has a market cap of $314.11 billion, a PE ratio of 24.18, a PEG ratio of 3.57 and a beta of 0.43. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38.

CocaCola (NYSE:KO – Get Free Report) last announced its quarterly earnings data on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. The firm 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%. Equities analysts anticipate that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

The firm also recently disclosed 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. This represents a $2.04 annualized dividend and a yield of 2.8%. The ex-dividend date is Monday, December 1st. CocaCola’s payout ratio is presently 67.55%.

Insiders Place Their Bets

In other news, COO Henrique Braun sold 40,390 shares of the stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $70.93, for a total value of $2,864,862.70. Following the sale, the chief operating officer owned 62,621 shares in the company, valued at $4,441,707.53. This represents a 39.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Monica Howard Douglas sold 13,548 shares of the firm’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $69.93, for a total transaction of $947,411.64. Following the transaction, the executive vice president directly owned 37,725 shares of the company’s stock, valued at approximately $2,638,109.25. This trade represents a 26.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 225,252 shares of company stock worth $15,953,007. Company insiders own 0.90% of the company’s stock.

About CocaCola

(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.

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