Hutchinson Capital Management CA Grows Holdings in The Coca-Cola Company (NYSE:KO)

Hutchinson Capital Management CA increased its holdings in The Coca-Cola Company (NYSE:KO) by 91.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,945 shares of the company’s stock after acquiring an additional 5,240 shares during the period. Hutchinson Capital Management CA’s holdings in Coca-Cola were worth $697,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Coca-Cola in the 4th quarter worth approximately $2,808,056,000. Price T Rowe Associates Inc. MD raised its stake in shares of Coca-Cola by 21.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock valued at $3,016,023,000 after buying an additional 8,733,326 shares during the period. Fisher Asset Management LLC lifted its position in shares of Coca-Cola by 11,127.2% during the 4th quarter. Fisher Asset Management LLC now owns 4,972,733 shares of the company’s stock valued at $293,043,000 after buying an additional 4,928,441 shares during the last quarter. Pathstone Holdings LLC bought a new position in shares of Coca-Cola during the 4th quarter worth $193,342,000. Finally, Putnam Investments LLC increased its holdings in Coca-Cola by 32.8% in the 4th quarter. Putnam Investments LLC now owns 12,032,095 shares of the company’s stock worth $709,051,000 after acquiring an additional 2,973,234 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on KO. Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Truist Financial raised their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. TD Cowen boosted their target price on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a report on Thursday, July 25th. StockNews.com lowered Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Finally, Bank of America boosted their price objective on Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $70.73.

Insiders Place Their Bets

In related news, CEO James Quincey sold 102,533 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total value of $7,179,360.66. Following the completion of the transaction, the chief executive officer now directly owns 442,546 shares in the company, valued at approximately $30,987,070.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO James Quincey sold 102,533 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total value of $7,179,360.66. Following the transaction, the chief executive officer now owns 442,546 shares in the company, valued at approximately $30,987,070.92. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Nikolaos Koumettis sold 80,891 shares of Coca-Cola stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $62.34, for a total transaction of $5,042,744.94. Following the completion of the transaction, the insider now directly owns 218,880 shares of the company’s stock, valued at $13,644,979.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,055,606 shares of company stock worth $584,747,672. 0.97% of the stock is currently owned by corporate insiders.

Coca-Cola Price Performance

KO stock opened at $71.87 on Tuesday. The firm has a 50 day simple moving average of $67.65 and a two-hundred day simple moving average of $63.65. The stock has a market cap of $309.75 billion, a PE ratio of 28.75, a P/E/G ratio of 3.94 and a beta of 0.60. The Coca-Cola Company has a one year low of $51.55 and a one year high of $73.53. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.81 by $0.03. The firm had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The company’s revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.78 EPS. On average, analysts predict that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a yield of 2.70%. Coca-Cola’s dividend payout ratio is presently 77.60%.

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.