Chapin Davis Inc. Has $870,000 Stock Position in The Coca-Cola Company (NYSE:KO)

Chapin Davis Inc. lifted its position in shares of The Coca-Cola Company (NYSE:KO) by 44.4% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,226 shares of the company’s stock after buying an additional 4,377 shares during the quarter. Chapin Davis Inc.’s holdings in Coca-Cola were worth $870,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of KO. Morgan Stanley raised its stake in Coca-Cola by 2.5% in the third quarter. Morgan Stanley now owns 80,448,083 shares of the company’s stock valued at $4,503,484,000 after purchasing an additional 1,950,146 shares in the last quarter. Norges Bank bought a new position in Coca-Cola in the fourth quarter valued at about $2,808,056,000. Price T Rowe Associates Inc. MD grew its position in Coca-Cola by 7.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 40,564,179 shares of the company’s stock valued at $2,390,448,000 after acquiring an additional 2,893,061 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Coca-Cola by 5.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 15,171,216 shares of the company’s stock valued at $894,028,000 after acquiring an additional 814,779 shares during the last quarter. Finally, Vontobel Asset Management Inc. grew its position in Coca-Cola by 2.7% in the fourth quarter. Vontobel Asset Management Inc. now owns 14,337,691 shares of the company’s stock valued at $890,866,000 after acquiring an additional 378,447 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 19,304 shares of the company’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $63.44, for a total value of $1,224,645.76. Following the completion of the sale, the executive vice president now owns 223,330 shares in the company, valued at $14,168,055.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Coca-Cola news, EVP Nancy Quan sold 19,304 shares of the company’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $63.44, for a total value of $1,224,645.76. Following the completion of the sale, the executive vice president now owns 223,330 shares in the company, valued at $14,168,055.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Nikolaos Koumettis sold 80,891 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $62.34, for a total value of $5,042,744.94. Following the completion of the sale, the insider now owns 218,880 shares of the company’s stock, valued at approximately $13,644,979.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 223,665 shares of company stock valued at $13,995,465. 0.97% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

KO has been the topic of several analyst reports. UBS Group upped 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 1st. Morgan Stanley boosted their price target on Coca-Cola from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, June 10th. Barclays boosted their price target on Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. BNP Paribas initiated coverage on Coca-Cola in a research note on Monday, June 24th. They issued an “outperform” rating and a $72.00 price target on the stock. Finally, Evercore ISI boosted their price target on Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and an average price target of $68.83.

Coca-Cola Stock Up 1.0 %

KO stock traded up $0.61 during midday trading on Monday, hitting $64.26. The stock had a trading volume of 1,147,215 shares, compared to its average volume of 13,027,672. The firm has a market cap of $276.83 billion, a price-to-earnings ratio of 25.46, a price-to-earnings-growth ratio of 3.60 and a beta of 0.59. The business has a 50-day moving average of $62.72 and a two-hundred day moving average of $60.78. The Coca-Cola Company has a 52-week low of $51.55 and a 52-week high of $64.36. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.04 and a quick ratio of 0.86.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, April 30th. The company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. The firm had revenue of $11.30 billion for 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 company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.68 earnings per share. As a group, equities research analysts forecast that The Coca-Cola Company will post 2.82 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend is Friday, June 14th. Coca-Cola’s dividend payout ratio is 77.60%.

Coca-Cola Company Profile

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.