DekaBank Deutsche Girozentrale Sells 694,036 Shares of The Coca-Cola Company (NYSE:KO)

DekaBank Deutsche Girozentrale lessened its holdings in The Coca-Cola Company (NYSE:KO) by 8.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,616,417 shares of the company’s stock after selling 694,036 shares during the quarter. Coca-Cola accounts for approximately 1.0% of DekaBank Deutsche Girozentrale’s investment portfolio, making the stock its 14th biggest position. DekaBank Deutsche Girozentrale owned about 0.18% of Coca-Cola worth $546,641,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. New Millennium Group LLC bought a new position in shares of Coca-Cola during the second quarter worth approximately $26,000. Quarry LP acquired a new position in Coca-Cola in the 2nd quarter valued at $27,000. Redmont Wealth Advisors LLC acquired a new position in Coca-Cola in the 1st quarter valued at $28,000. ESL Trust Services LLC bought a new stake in shares of Coca-Cola during the 1st quarter valued at $28,000. Finally, DiNuzzo Private Wealth Inc. grew its holdings in shares of Coca-Cola by 65.0% during the 1st quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock worth $32,000 after purchasing an additional 206 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Coca-Cola news, EVP Lisa Chang sold 58,122 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $68.51, for a total transaction of $3,981,938.22. Following the completion of the sale, the executive vice president now directly owns 74,067 shares in the company, valued at approximately $5,074,330.17. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Lisa Chang sold 58,122 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $68.51, for a total transaction of $3,981,938.22. Following the completion of the sale, the executive vice president now owns 74,067 shares of the company’s stock, valued at $5,074,330.17. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Bruno Pietracci sold 38,653 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total transaction of $2,667,443.53. The disclosure for this sale can be found here. Insiders sold 319,005 shares of company stock valued at $22,198,147 over the last quarter. Insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Royal Bank of Canada upped their price objective on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Cfra restated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Morgan Stanley decreased their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday. Citigroup upped their price objective on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, Truist Financial lifted their target price on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $71.80.

Coca-Cola Stock Performance

Shares of Coca-Cola stock opened at $66.92 on Friday. The stock has a market cap of $288.42 billion, a price-to-earnings ratio of 27.09, a P/E/G ratio of 3.91 and a beta of 0.60. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The Coca-Cola Company has a twelve month low of $55.10 and a twelve month high of $73.53. The company’s fifty day moving average is $70.66 and its 200 day moving average is $66.06.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The company had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The firm’s revenue was down .8% compared to the same quarter last year. During the same period last year, the company earned $0.74 earnings per share. Sell-side analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is presently 78.54%.

About Coca-Cola

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.