Skandinaviska Enskilda Banken AB publ Increases Stake in The Coca-Cola Company (NYSE:KO)

Skandinaviska Enskilda Banken AB publ grew its stake in shares of The Coca-Cola Company (NYSE:KO) by 9.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 911,236 shares of the company’s stock after purchasing an additional 78,390 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Coca-Cola were worth $56,542,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Mainstream Capital Management LLC purchased a new position in Coca-Cola in the 4th quarter worth about $31,000. Retirement Wealth Solutions LLC purchased a new position in shares of Coca-Cola during the 4th quarter valued at $37,000. MilWealth Group LLC bought a new position in Coca-Cola in the 4th quarter worth approximately $40,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Coca-Cola in the third quarter worth about $43,000. Finally, Sugar Maple Asset Management LLC purchased a new position in shares of Coca-Cola in the 4th quarter worth $43,000. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Price Performance

Shares of NYSE:KO opened at $69.95 on Thursday. The company has a market cap of $300.83 billion, a PE ratio of 28.32, a P/E/G ratio of 3.79 and a beta of 0.57. The firm has a 50-day simple moving average of $65.87 and a 200 day simple moving average of $66.61. The Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. On average, sell-side analysts anticipate that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $0.51 dividend. The ex-dividend date is Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.92%. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend 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 firm’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total transaction of $10,327,339.35. Following the completion of the transaction, the chief executive officer now owns 342,546 shares in the company, valued at $24,324,191.46. This trade represents a 29.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lisa Chang sold 13,445 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $71.50, for a total value of $961,317.50. Following the completion of the transaction, the executive vice president now directly owns 94,676 shares in the company, valued at $6,769,334. The trade was a 12.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 288,146 shares of company stock valued at $20,456,524 in the last 90 days. 0.97% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

KO has been the topic of a number of recent analyst reports. Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and increased their price objective for the stock from $69.00 to $75.00 in a research report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their target price for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Wednesday, January 8th. Evercore ISI raised their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Finally, Morgan Stanley increased their price objective on shares of Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus 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.