The Coca-Cola Company (NYSE:KO) Shares Sold by Bridge Creek Capital Management LLC

Bridge Creek Capital Management LLC decreased its position in shares of The Coca-Cola Company (NYSE:KO) by 0.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 85,764 shares of the company’s stock after selling 380 shares during the quarter. Coca-Cola comprises about 1.9% of Bridge Creek Capital Management LLC’s investment portfolio, making the stock its 10th largest holding. Bridge Creek Capital Management LLC’s holdings in Coca-Cola were worth $6,142,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Crowley Wealth Management Inc. acquired a new position in shares of Coca-Cola during the fourth quarter valued at $27,000. Mainstream Capital Management LLC acquired a new position in shares of Coca-Cola during the fourth quarter valued at $31,000. REAP Financial Group LLC boosted its holdings in shares of Coca-Cola by 57.5% during the fourth quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock valued at $35,000 after acquiring an additional 208 shares during the period. Murphy & Mullick Capital Management Corp acquired a new position in shares of Coca-Cola during the fourth quarter valued at $38,000. Finally, Hoey Investments Inc. boosted its holdings in shares of 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 acquiring an additional 181 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on KO. UBS Group upped their price objective on shares of Coca-Cola from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, April 30th. Piper Sandler upped their price objective on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. 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 report on Thursday, February 13th. Barclays reaffirmed an “overweight” rating on shares of Coca-Cola in a report on Thursday, March 27th. Finally, Morgan Stanley upped their price objective on shares of Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $75.81.

Insiders Place Their Bets

In other Coca-Cola news, CFO John Murphy sold 88,658 shares of the business’s stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the sale, the chief financial officer now owns 205,511 shares in the company, valued at approximately $14,815,287.99. The trade was a 30.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nikolaos Koumettis sold 55,500 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $71.01, for a total value of $3,941,055.00. Following the completion of the transaction, the insider now owns 246,909 shares in the company, valued at $17,533,008.09. This represents a 18.35% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 229,761 shares of company stock worth $16,474,587. Company insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

NYSE KO opened at $71.98 on Tuesday. The stock’s 50-day moving average price is $71.39 and its two-hundred day moving average price is $67.39. 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 company has a market cap of $309.80 billion, a PE ratio of 29.14, a PEG ratio of 3.79 and a beta of 0.47. The Coca-Cola Company has a 1 year low of $60.62 and a 1 year high of $74.38.

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

Coca-Cola Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued 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 2.83%. Coca-Cola’s payout ratio is presently 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.