Mirabaud & Cie SA Reduces Holdings in CocaCola Company (The) $KO

Mirabaud & Cie SA reduced its position in shares of CocaCola Company (The) (NYSE:KO) by 37.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,648 shares of the company’s stock after selling 10,735 shares during the period. Mirabaud & Cie SA’s holdings in CocaCola were worth $1,170,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new position in CocaCola during the 2nd quarter worth $3,846,270,000. Vanguard Group Inc. grew its holdings in CocaCola by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 367,441,971 shares of the company’s stock valued at $25,996,519,000 after buying an additional 6,241,163 shares during the period. Laurel Wealth Advisors LLC lifted its stake in shares of CocaCola by 7,239.2% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 6,149,632 shares of the company’s stock valued at $435,086,000 after purchasing an additional 6,065,840 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of CocaCola by 343.3% in the third quarter. Assenagon Asset Management S.A. now owns 4,486,096 shares of the company’s stock worth $297,518,000 after buying an additional 3,474,015 shares during the last quarter. Finally, Amundi lifted its position in shares of CocaCola by 16.0% in the 1st quarter. Amundi now owns 21,236,315 shares of the company’s stock worth $1,554,074,000 after buying an additional 2,922,619 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on KO. Evercore ISI reissued an “outperform” rating on shares of CocaCola in a research note on Tuesday, October 21st. TD Cowen increased their target price on shares of CocaCola from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Bank of America raised their price objective on CocaCola from $78.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Wells Fargo & Company boosted their price target on CocaCola from $75.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Finally, Barclays restated an “overweight” rating on shares of CocaCola in a report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the stock. According to MarketBeat, CocaCola presently has an average rating of “Buy” and an average target price of $79.08.

CocaCola Trading Up 0.2%

CocaCola stock opened at $69.99 on Friday. The company has a market cap of $301.07 billion, a price-to-earnings ratio of 23.18, a P/E/G ratio of 3.89 and a beta of 0.39. The firm has a 50-day moving average of $70.48 and a 200-day moving average of $69.42. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.21 and a quick ratio of 1.00. CocaCola Company has a one year low of $60.62 and a one year high of $74.38.

CocaCola (NYSE:KO) last released its quarterly earnings data on Thursday, March 27th. The company reported $0.55 EPS 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 analysts expect that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Monday, December 1st. CocaCola’s payout ratio is presently 67.55%.

Insider Transactions at CocaCola

In other CocaCola news, EVP Manuel Arroyo sold 139,689 shares of the company’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $70.80, for a total transaction of $9,889,981.20. Following the sale, the executive vice president owned 58,067 shares of the company’s stock, valued at approximately $4,111,143.60. This represents a 70.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 value of $2,864,862.70. Following the sale, the chief operating officer owned 62,621 shares of the company’s stock, valued at approximately $4,441,707.53. The trade was a 39.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 225,252 shares of company stock worth $15,953,007. 0.97% of the stock is currently owned by insiders.

CocaCola Profile

The Coca‑Cola Company (NYSE: KO) is a global beverage manufacturer, marketer and distributor best known for its flagship Coca‑Cola soda. Headquartered in Atlanta, Georgia, the company develops and sells concentrates, syrups and finished beverages across a broad portfolio of brands. Its product range spans sparkling soft drinks, bottled water, sports drinks, juices, ready‑to‑drink teas and coffees, and other still beverages, marketed under both global and regional brand names.

Coca‑Cola’s brand portfolio includes widely recognized names such as Coca‑Cola, Diet Coke, Coca‑Cola Zero Sugar, Sprite, Fanta, Minute Maid, Powerade and Dasani, and in recent years the company has expanded into the coffee and premium beverage categories through acquisitions such as Costa Coffee.