Clare Market Investments LLC Acquires 425 Shares of The Coca-Cola Company (NYSE:KO)

Clare Market Investments LLC lifted its holdings in The Coca-Cola Company (NYSE:KO) by 1.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,713 shares of the company’s stock after acquiring an additional 425 shares during the period. Clare Market Investments LLC’s holdings in Coca-Cola were worth $2,056,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in KO. Crowley Wealth Management Inc. bought a new stake in Coca-Cola in the fourth quarter worth about $27,000. Mainstream Capital Management LLC bought a new stake in Coca-Cola in the fourth quarter worth about $31,000. REAP Financial Group LLC lifted its stake in Coca-Cola by 57.5% in the fourth quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock worth $35,000 after purchasing an additional 208 shares during the last quarter. Murphy & Mullick Capital Management Corp bought a new stake in Coca-Cola in the fourth quarter worth about $38,000. Finally, Hoey Investments Inc. lifted its stake in Coca-Cola by 41.9% in the fourth quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock worth $38,000 after purchasing an additional 181 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on KO shares. Piper Sandler raised their price objective on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Cfra Research raised shares of Coca-Cola to a “strong-buy” rating in a research note on Tuesday, April 15th. DZ Bank raised shares of 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 Thursday, February 13th. Evercore ISI raised their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Finally, Barclays reaffirmed an “overweight” rating on shares of Coca-Cola in a research report on Thursday, March 27th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $75.81.

Insiders Place Their Bets

In related news, insider Nikolaos Koumettis sold 55,500 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $71.01, for a total transaction of $3,941,055.00. Following the completion of the transaction, the insider now directly owns 246,909 shares in the company, valued at $17,533,008.09. The trade was a 18.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO James Quincey sold 266,403 shares of the business’s stock in a transaction on Friday, May 30th. The shares were sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the transaction, the chief executive officer now owns 275,946 shares of the company’s stock, valued at $19,884,668.76. This represents a 49.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 496,164 shares of company stock valued at $35,671,587. 0.97% of the stock is currently owned by insiders.

Coca-Cola Stock Performance

Shares of KO stock opened at $71.39 on Thursday. The firm has a market cap of $307.28 billion, a price-to-earnings ratio of 28.90, a PEG ratio of 3.79 and a beta of 0.47. The company’s 50 day moving average is $71.41 and its 200 day moving average is $67.45. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The Coca-Cola Company has a 52-week low of $60.62 and a 52-week high of $74.38.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.02. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The company had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.23 billion. During the same period last year, the company posted $0.72 earnings per share. Coca-Cola’s revenue was down .7% compared to the same quarter last year. On average, sell-side analysts anticipate that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola’s dividend payout ratio is currently 81.60%.

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.