The Coca-Cola Company (NYSE:KO) Shares Bought by Charter Oak Capital Management LLC

Charter Oak Capital Management LLC boosted its holdings in shares of The Coca-Cola Company (NYSE:KO) by 3.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,723 shares of the company’s stock after purchasing an additional 287 shares during the period. Charter Oak Capital Management LLC’s holdings in Coca-Cola were worth $553,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of KO. Norges Bank acquired a new position in shares of Coca-Cola in the fourth quarter worth about $3,402,151,000. Capital International Investors raised its position in shares of Coca-Cola by 96.0% during the 4th quarter. Capital International Investors now owns 24,949,194 shares of the company’s stock worth $1,553,337,000 after purchasing an additional 12,222,885 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Coca-Cola by 18.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company’s stock worth $4,617,400,000 after purchasing an additional 11,569,920 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Coca-Cola during the 4th quarter worth about $500,192,000. Finally, Franklin Resources Inc. raised its position in shares of Coca-Cola by 21.9% during the 4th quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company’s stock worth $2,123,301,000 after purchasing an additional 6,118,819 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Stock Performance

Coca-Cola stock opened at $71.37 on Friday. The firm has a 50 day simple moving average of $71.39 and a 200-day simple moving average of $67.60. The Coca-Cola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. The stock has a market cap of $307.20 billion, a price-to-earnings ratio of 28.89, a price-to-earnings-growth ratio of 3.79 and a beta of 0.46.

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, 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 business had revenue of $11.13 billion during the quarter, compared to analysts’ expectations of $11.23 billion. During the same quarter in the prior year, the company posted $0.72 EPS. The business’s revenue for the quarter was down .7% on a year-over-year basis. On average, analysts expect that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Morgan Stanley upped their price target on shares of Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Wells Fargo & Company upped their price target on shares of Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. upped their price target on shares of Coca-Cola from $74.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, April 21st. Royal Bank of Canada upped their price objective on shares of Coca-Cola from $73.00 to $76.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. Finally, 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. Two investment 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 MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $75.81.

Insider Activity

In related news, COO Henrique Braun sold 25,277 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $71.47, for a total transaction of $1,806,547.19. Following the completion of the transaction, the chief operating officer now owns 52,466 shares of the company’s stock, valued at approximately $3,749,745.02. This trade represents a 32.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO John Murphy sold 88,658 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 205,511 shares of the company’s stock, valued at $14,815,287.99. The trade was a 30.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 440,664 shares of company stock valued at $31,730,532 in the last 90 days. Company insiders own 0.97% of the company’s stock.

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.