Lombard Odier Asset Management Switzerland SA Boosts Stake in CocaCola Company (The) $KO

Lombard Odier Asset Management Switzerland SA increased its holdings in shares of CocaCola Company (The) (NYSE:KO) by 8.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 134,116 shares of the company’s stock after acquiring an additional 10,875 shares during the quarter. Lombard Odier Asset Management Switzerland SA’s holdings in CocaCola were worth $9,489,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Requisite Capital Management LLC grew its position in shares of CocaCola by 2.8% in the second quarter. Requisite Capital Management LLC now owns 5,285 shares of the company’s stock valued at $377,000 after purchasing an additional 142 shares in the last quarter. Paulson Wealth Management Inc. boosted its stake in CocaCola by 2.2% during the second quarter. Paulson Wealth Management Inc. now owns 6,773 shares of the company’s stock worth $479,000 after buying an additional 149 shares during the last quarter. Summitry LLC boosted its stake in CocaCola by 1.9% during the second quarter. Summitry LLC now owns 7,865 shares of the company’s stock worth $556,000 after buying an additional 149 shares during the last quarter. Frisch Financial Group Inc. grew its holdings in CocaCola by 2.5% in the 1st quarter. Frisch Financial Group Inc. now owns 6,145 shares of the company’s stock valued at $443,000 after buying an additional 150 shares in the last quarter. Finally, GDS Wealth Management grew its holdings in CocaCola by 1.8% in the 1st quarter. GDS Wealth Management now owns 8,591 shares of the company’s stock valued at $615,000 after buying an additional 150 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on KO. Bank of America lifted their price target on CocaCola from $78.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, November 7th. UBS Group restated a “buy” rating on shares of CocaCola in a research report on Friday. Weiss Ratings reiterated a “buy (b-)” rating on shares of CocaCola in a report on Wednesday, October 8th. Wells Fargo & Company increased their price target on shares of CocaCola from $75.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Finally, TD Cowen raised their price target on shares of CocaCola from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating and sixteen have assigned a Buy rating to the company. According to MarketBeat.com, CocaCola currently has a consensus rating of “Buy” and an average price target of $78.43.

Insider Activity

In other news, EVP Manuel Arroyo sold 139,689 shares of the stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nancy Quan sold 31,625 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $71.17, for a total transaction of $2,250,751.25. Following the completion of the transaction, the executive vice president directly owned 223,330 shares of the company’s stock, valued at approximately $15,894,396.10. The trade was a 12.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 225,252 shares of company stock worth $15,953,007 in the last quarter. Insiders own 0.90% of the company’s stock.

CocaCola Trading Up 0.3%

Shares of KO stock opened at $70.21 on Tuesday. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The firm has a market cap of $302.01 billion, a PE ratio of 23.25, a price-to-earnings-growth ratio of 3.89 and a beta of 0.39. The company has a 50-day moving average of $69.57 and a two-hundred day moving average of $69.52. 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 (NYSE:KO) last announced its earnings results on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. CocaCola had a return on equity of 43.62% and a net margin of 27.34%.The company had revenue of $11.40 billion for the quarter. On average, analysts predict that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

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

CocaCola 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.