Erste Asset Management GmbH Sells 175,637 Shares of The Coca-Cola Company (NYSE:KO)

Erste Asset Management GmbH lessened its position in The Coca-Cola Company (NYSE:KO) by 62.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 104,313 shares of the company’s stock after selling 175,637 shares during the period. Erste Asset Management GmbH’s holdings in Coca-Cola were worth $6,510,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Mainstream Capital Management LLC acquired a new position in shares of Coca-Cola in the fourth quarter valued at approximately $31,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Coca-Cola in the third quarter valued at approximately $43,000. Retirement Wealth Solutions LLC acquired a new position in shares of Coca-Cola in the fourth quarter valued at approximately $37,000. MilWealth Group LLC acquired a new position in shares of Coca-Cola in the fourth quarter valued at approximately $40,000. Finally, Hara Capital LLC boosted its holdings in shares of Coca-Cola by 43.7% in the fourth quarter. Hara Capital LLC now owns 691 shares of the company’s stock valued at $43,000 after buying an additional 210 shares during the period. Institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on KO shares. Piper Sandler upped their price target on shares of Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Wells Fargo & Company increased their target price on shares of Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Jefferies Financial Group upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and increased their target price for the stock from $69.00 to $75.00 in a report on Thursday, January 30th. Royal Bank of Canada restated an “outperform” rating and set a $69.00 target price on shares of Coca-Cola in a report on Thursday, February 6th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $74.24.

Coca-Cola Stock Performance

Shares of KO stock opened at $69.59 on Friday. The stock has a market cap of $299.29 billion, a P/E ratio of 28.17, a P/E/G ratio of 3.79 and a beta of 0.57. The company has a fifty day moving average price of $66.03 and a two-hundred day moving average price of $66.63. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53. 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 issued its quarterly earnings data 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 net margin of 22.59% and a return on equity of 45.37%. As a group, equities analysts predict that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.93%. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Friday, March 14th. Coca-Cola’s dividend payout ratio is presently 82.59%.

Insiders Place Their Bets

In related news, COO Henrique Braun sold 25,277 shares of Coca-Cola stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $71.47, for a total transaction of $1,806,547.19. Following the sale, the chief operating officer now directly owns 52,466 shares in the company, valued at $3,749,745.02. This trade represents a 32.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lisa Chang sold 13,445 shares of Coca-Cola stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $71.50, for a total transaction of $961,317.50. Following the sale, the executive vice president now owns 94,676 shares in the company, valued at approximately $6,769,334. This represents a 12.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 313,423 shares of company stock worth $22,263,071 over the last ninety days. Corporate insiders own 0.97% of the company’s stock.

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.