Chapin Davis Inc. Has $1.34 Million Position in CocaCola Company (The) (NYSE:KO)

Chapin Davis Inc. raised its holdings in CocaCola Company (The) (NYSE:KO) by 22.6% in the first quarter, Holdings Channel.com reports. The fund owned 18,771 shares of the company’s stock after acquiring an additional 3,459 shares during the quarter. Chapin Davis Inc.’s holdings in CocaCola were worth $1,344,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in KO. Peachtree Investment Partners LLC grew its stake in CocaCola by 1.4% during the fourth quarter. Peachtree Investment Partners LLC now owns 11,189 shares of the company’s stock worth $697,000 after purchasing an additional 157 shares during the period. Braun Bostich & Associates Inc. boosted its holdings in shares of CocaCola by 3.8% during the 1st quarter. Braun Bostich & Associates Inc. now owns 4,308 shares of the company’s stock worth $309,000 after buying an additional 159 shares in the last quarter. Fort Sheridan Advisors LLC grew its position in shares of CocaCola by 3.3% during the 4th quarter. Fort Sheridan Advisors LLC now owns 4,993 shares of the company’s stock worth $311,000 after buying an additional 161 shares during the period. Excalibur Management Corp increased its stake in shares of CocaCola by 0.6% in the 4th 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 in the last quarter. Finally, Tradition Wealth Management LLC lifted its position in shares of CocaCola by 3.0% during the 4th quarter. Tradition Wealth Management LLC now owns 5,737 shares of the company’s stock valued at $357,000 after acquiring an additional 167 shares during the period. 70.26% of the stock is owned by institutional investors.

Insider Transactions at CocaCola

In related news, EVP Beatriz R. Perez sold 60,326 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $71.87, for a total value of $4,335,629.62. Following the sale, the executive vice president now owns 187,716 shares in the company, valued at approximately $13,491,148.92. This trade represents a 24.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO John Murphy sold 88,658 shares of CocaCola stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total value of $6,391,355.22. Following the sale, the chief financial officer now directly owns 205,511 shares of the company’s stock, valued at $14,815,287.99. This represents a 30.14% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 415,387 shares of company stock valued at $29,923,985. 0.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

KO has been the subject of several research analyst reports. Barclays reaffirmed an “overweight” rating on shares of CocaCola in a research note on Thursday, March 27th. JPMorgan Chase & Co. boosted their target price on CocaCola from $74.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, April 21st. Piper Sandler upped their price target on CocaCola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Cfra Research raised CocaCola to a “strong-buy” rating in a research note on Tuesday, April 15th. Finally, UBS Group boosted their price objective on CocaCola from $84.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, April 30th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $76.00.

CocaCola Stock Down 0.5%

CocaCola stock opened at $68.84 on Monday. The firm has a 50 day simple moving average of $71.50 and a 200 day simple moving average of $68.11. The company has a current ratio of 1.10, a quick ratio of 0.89 and a debt-to-equity ratio of 1.57. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The firm has a market capitalization of $296.32 billion, a price-to-earnings ratio of 27.54, a P/E/G ratio of 3.61 and a beta of 0.46.

CocaCola (NYSE:KO) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.02. The company had revenue of $11.13 billion during the quarter, compared to analysts’ expectations of $11.23 billion. CocaCola had a return on equity of 45.49% and a net margin of 23.00%. The firm’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.72 earnings per share. On average, analysts predict that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.96%. The ex-dividend date of this dividend is Friday, June 13th. CocaCola’s dividend payout ratio is presently 81.60%.

About CocaCola

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.