Allianz SE Invests $10.12 Million in The Coca-Cola Company (NYSE:KO)

Allianz SE purchased a new position in The Coca-Cola Company (NYSE:KO) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 163,121 shares of the company’s stock, valued at approximately $10,122,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of KO. Transamerica Financial Advisors Inc. raised its holdings in Coca-Cola by 16.1% in the fourth quarter. Transamerica Financial Advisors Inc. now owns 15,703 shares of the company’s stock valued at $978,000 after acquiring an additional 2,183 shares in the last quarter. Intrust Bank NA raised its position in shares of Coca-Cola by 3.9% during the 4th quarter. Intrust Bank NA now owns 29,132 shares of the company’s stock valued at $1,814,000 after acquiring an additional 1,090 shares in the last quarter. Allstate Corp lifted its stake in Coca-Cola by 2,983.3% during the fourth quarter. Allstate Corp now owns 121,728 shares of the company’s stock worth $7,579,000 after purchasing an additional 117,780 shares during the last quarter. Brown Brothers Harriman & Co. boosted its holdings in Coca-Cola by 1.8% in the fourth quarter. Brown Brothers Harriman & Co. now owns 218,894 shares of the company’s stock worth $13,628,000 after purchasing an additional 3,859 shares during the period. Finally, RiverFront Investment Group LLC boosted its holdings in Coca-Cola by 16.4% in the fourth quarter. RiverFront Investment Group LLC now owns 122,309 shares of the company’s stock worth $7,615,000 after purchasing an additional 17,263 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Down 0.5 %

KO stock opened at $70.36 on Friday. The company’s 50 day simple moving average is $67.77 and its 200-day simple moving average is $66.45. The Coca-Cola Company has a 52-week low of $57.93 and a 52-week 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. The firm has a market capitalization of $302.80 billion, a P/E ratio of 28.49, a P/E/G ratio of 3.79 and a beta of 0.57.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, topping 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%. As a group, equities research analysts anticipate that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $0.51 per share. The ex-dividend date is Friday, March 14th. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 dividend on an annualized basis and a yield of 2.90%. Coca-Cola’s payout ratio is presently 82.59%.

Insider Buying and Selling at Coca-Cola

In related news, CEO James Quincey sold 145,435 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total value of $10,327,339.35. Following the transaction, the chief executive officer now owns 342,546 shares in the company, valued at approximately $24,324,191.46. This represents a 29.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Nikolaos Koumettis sold 54,708 shares of Coca-Cola stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $70.96, for a total transaction of $3,882,079.68. Following the completion of the sale, the insider now owns 246,909 shares of the company’s stock, valued at $17,520,662.64. This trade represents a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 313,423 shares of company stock worth $22,263,071. 0.97% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on KO shares. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their price objective for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. UBS Group increased their price target on Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Barclays boosted their price objective on Coca-Cola from $66.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Wells Fargo & Company upped their price objective on Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Finally, TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Wednesday, January 8th. Two research 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $74.24.

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.