1,308 Shares in The Coca-Cola Company (NYSE:KO) Purchased by Sunbeam Capital Management LLC

Sunbeam Capital Management LLC acquired a new stake in shares of The Coca-Cola Company (NYSE:KO) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 1,308 shares of the company’s stock, valued at approximately $81,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Crowley Wealth Management Inc. bought a new stake in Coca-Cola in the 4th quarter worth about $27,000. Mainstream Capital Management LLC purchased a new position in shares of Coca-Cola during the fourth quarter valued at approximately $31,000. Murphy & Mullick Capital Management Corp purchased a new position in shares of Coca-Cola during the fourth quarter valued at approximately $38,000. Hoey Investments Inc. lifted its position in Coca-Cola by 41.9% during the fourth quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock valued at $38,000 after purchasing an additional 181 shares during the period. Finally, MilWealth Group LLC purchased a new stake in Coca-Cola in the fourth quarter worth approximately $40,000. Institutional investors own 70.26% of the company’s stock.

Insider Activity at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 145,435 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total transaction of $10,327,339.35. Following the completion of the transaction, the chief executive officer now owns 342,546 shares in the company, valued at $24,324,191.46. This trade represents a 29.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO John Murphy sold 88,658 shares of the company’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 sale, the chief financial officer now directly owns 205,511 shares in the company, valued at $14,815,287.99. This trade represents a 30.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 462,407 shares of company stock valued at $32,990,056. Corporate insiders own 0.90% of the company’s stock.

Coca-Cola Price Performance

Shares of Coca-Cola stock opened at $71.81 on Friday. The company has a market capitalization of $309.09 billion, a price-to-earnings ratio of 29.07, a PEG ratio of 3.79 and a beta of 0.47. 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 stock’s 50-day simple moving average is $71.09 and its 200-day simple moving average is $66.98. 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 posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.02. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The business had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.23 billion. During the same period in the prior year, the company posted $0.72 EPS. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. As a group, analysts expect that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 annualized dividend and a yield of 2.84%. Coca-Cola’s payout ratio is 81.60%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on KO shares. Barclays reiterated an “overweight” rating on shares of Coca-Cola in a research note on Thursday, March 27th. Morgan Stanley increased their target price on Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. UBS Group boosted their price target on Coca-Cola from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, April 30th. DZ Bank upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Coca-Cola from $74.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, April 21st. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $75.81.

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.