The Coca-Cola Company (NYSE:KO) Shares Bought by Davis Capital Management

Davis Capital Management boosted its stake in shares of The Coca-Cola Company (NYSE:KOFree Report) by 2.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,539 shares of the company’s stock after buying an additional 768 shares during the quarter. Coca-Cola accounts for approximately 1.5% of Davis Capital Management’s portfolio, making the stock its 16th largest holding. Davis Capital Management’s holdings in Coca-Cola were worth $1,671,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. ZRC Wealth Management LLC boosted its position in shares of Coca-Cola by 213.3% in the 4th quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock worth $26,000 after buying an additional 320 shares in the last quarter. Tidemark LLC purchased a new stake in shares of Coca-Cola in the fourth quarter valued at about $26,000. Private Wealth Management Group LLC purchased a new stake in shares of Coca-Cola in the fourth quarter valued at about $27,000. Criterion Capital Advisors LLC acquired a new stake in shares of Coca-Cola in the fourth quarter valued at approximately $30,000. Finally, Frazier Financial Advisors LLC purchased a new position in shares of Coca-Cola during the 4th quarter worth approximately $31,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Stock Up 0.0 %

KO traded up $0.01 on Wednesday, reaching $62.63. The company’s stock had a trading volume of 10,651,661 shares, compared to its average volume of 9,991,376. The Coca-Cola Company has a 1 year low of $51.55 and a 1 year high of $64.36. The business’s 50 day moving average is $61.98 and its 200 day moving average is $60.53. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.04 and a quick ratio of 0.86. The stock has a market cap of $269.81 billion, a price-to-earnings ratio of 25.05, a price-to-earnings-growth ratio of 3.54 and a beta of 0.59.

Coca-Cola (NYSE:KOGet Free Report) last released its earnings results on Tuesday, April 30th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.70 by $0.02. The company had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $11.01 billion. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. The business’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.68 EPS. As a group, research analysts forecast that The Coca-Cola Company will post 2.82 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend is Friday, June 14th. Coca-Cola’s payout ratio is currently 77.60%.

Insider Activity

In other Coca-Cola news, EVP Beatriz R. Perez sold 57,298 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the sale, the executive vice president now owns 167,107 shares in the company, valued at $10,358,962.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Nikolaos Koumettis sold 80,891 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $62.34, for a total transaction of $5,042,744.94. Following the sale, the insider now owns 218,880 shares in the company, valued at $13,644,979.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Beatriz R. Perez sold 57,298 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the completion of the transaction, the executive vice president now directly owns 167,107 shares in the company, valued at approximately $10,358,962.93. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 223,665 shares of company stock worth $13,995,465. 0.97% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

KO has been the topic of a number of analyst reports. Argus increased their target price on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, May 22nd. UBS Group increased their price objective on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Evercore ISI boosted their target price on shares of Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Barclays upped their target price on shares of Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Finally, Morgan Stanley boosted their price objective on shares of Coca-Cola from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, June 10th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Coca-Cola currently has an average rating of “Moderate Buy” and an average target price of $68.55.

Get Our Latest Report on Coca-Cola

Coca-Cola Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

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