The Coca-Cola Company (NYSE:KO) Shares Sold by Chatham Capital Group Inc.

Chatham Capital Group Inc. lessened its stake in shares of The Coca-Cola Company (NYSE:KO) by 2.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,540 shares of the company’s stock after selling 1,602 shares during the quarter. Chatham Capital Group Inc.’s holdings in Coca-Cola were worth $4,193,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Peachtree Investment Partners LLC lifted its stake in Coca-Cola by 1.4% in the 4th quarter. Peachtree Investment Partners LLC now owns 11,189 shares of the company’s stock valued at $697,000 after buying an additional 157 shares in the last quarter. Fort Sheridan Advisors LLC boosted its stake in shares of Coca-Cola by 3.3% during the fourth quarter. Fort Sheridan Advisors LLC now owns 4,993 shares of the company’s stock valued at $311,000 after acquiring an additional 161 shares during the last quarter. Excalibur Management Corp boosted its stake in shares of Coca-Cola by 0.6% during the fourth quarter. Excalibur Management Corp now owns 29,412 shares of the company’s stock valued at $1,831,000 after acquiring an additional 161 shares during the last quarter. Tradition Wealth Management LLC increased its position in Coca-Cola by 3.0% during the 4th quarter. Tradition Wealth Management LLC now owns 5,737 shares of the company’s stock worth $357,000 after purchasing an additional 167 shares in the last quarter. Finally, Aviance Capital Partners LLC raised its stake in Coca-Cola by 0.7% in the 4th quarter. Aviance Capital Partners LLC now owns 23,988 shares of the company’s stock valued at $1,493,000 after purchasing an additional 171 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of Coca-Cola from $74.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, April 21st. Royal Bank of Canada raised their target price on Coca-Cola from $73.00 to $76.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. Morgan Stanley boosted their price target on Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Piper Sandler raised their price objective on Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Finally, Evercore ISI lifted their price objective on Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Coca-Cola has a consensus rating of “Buy” and an average price target of $75.81.

Coca-Cola Price Performance

Shares of NYSE KO opened at $71.39 on Thursday. The Coca-Cola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The firm has a 50-day moving average of $71.41 and a two-hundred day moving average of $67.45. The company has a market capitalization of $307.28 billion, a price-to-earnings ratio of 28.90, a PEG ratio of 3.79 and a beta of 0.47.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.71 by $0.02. The business had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.23 billion. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The business’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the prior year, the business earned $0.72 earnings per share. As a group, analysts expect that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

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

Insider Buying and Selling

In related news, CFO John Murphy sold 88,658 shares of the business’s stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total value of $6,391,355.22. Following the completion of the sale, the chief financial officer now owns 205,511 shares of the company’s stock, valued at approximately $14,815,287.99. The trade was a 30.14% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Nikolaos Koumettis sold 55,500 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 246,909 shares in the company, valued at approximately $17,533,008.09. The trade was a 18.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 496,164 shares of company stock worth $35,671,587 in the last three months. 0.97% of the stock is currently owned by insiders.

Coca-Cola Company 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.