Skandinaviska Enskilda Banken AB publ Purchases 8,100 Shares of The Coca-Cola Company (NYSE:KO)

Skandinaviska Enskilda Banken AB publ grew its holdings in shares of The Coca-Cola Company (NYSE:KO) by 1.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 822,104 shares of the company’s stock after buying an additional 8,100 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Coca-Cola were worth $52,323,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of KO. New Millennium Group LLC purchased a new position in shares of Coca-Cola in the second quarter worth about $26,000. Tidemark LLC bought a new stake in shares of Coca-Cola during the 4th quarter valued at about $26,000. ESL Trust Services LLC bought a new stake in Coca-Cola during the first quarter valued at approximately $28,000. Redmont Wealth Advisors LLC purchased a new position in Coca-Cola in the first quarter worth $28,000. Finally, Frazier Financial Advisors LLC purchased a new position in shares of Coca-Cola during the 4th quarter valued at about $31,000. Institutional investors own 70.26% of the company’s stock.

Insider Activity

In related news, EVP Nancy Quan sold 19,304 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $64.96, for a total transaction of $1,253,987.84. Following the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at $14,507,516.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO James Quincey sold 42,397 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $70.02, for a total value of $2,968,637.94. Following the completion of the transaction, the chief executive officer now directly owns 442,546 shares in the company, valued at $30,987,070.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nancy Quan sold 19,304 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $64.96, for a total transaction of $1,253,987.84. Following the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $14,507,516.80. The disclosure for this sale can be found here. Insiders have sold 974,715 shares of company stock valued at $579,704,927 in the last ninety days. 0.97% of the stock is currently owned by company insiders.

Coca-Cola Price Performance

Coca-Cola stock opened at $70.63 on Friday. The company has a 50-day moving average price of $68.98 and a 200 day moving average price of $64.22. The stock has a market cap of $304.27 billion, a P/E ratio of 28.25, a PEG ratio of 3.93 and a beta of 0.60. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The Coca-Cola Company has a 12-month low of $51.55 and a 12-month high of $73.53.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The business had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.78 billion. During the same period in the previous year, the firm posted $0.78 earnings per share. The company’s revenue was up 3.3% on a year-over-year basis. Sell-side analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend is Friday, September 13th. Coca-Cola’s dividend payout ratio (DPR) is 77.60%.

Analysts Set New Price Targets

Several brokerages recently weighed in on KO. Barclays increased their target price on Coca-Cola from $69.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Morgan Stanley increased their price target on shares of Coca-Cola from $70.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 27th. Citigroup boosted their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. StockNews.com cut Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Finally, BNP Paribas initiated coverage on shares of Coca-Cola in a report on Monday, June 24th. They set an “outperform” rating and a $72.00 price target on the stock. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average target price of $71.07.

Coca-Cola Profile

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.