Chapin Davis Inc. Purchases 153 Shares of The Coca-Cola Company (NYSE:KO)

Chapin Davis Inc. raised its position in The Coca-Cola Company (NYSE:KO) by 1.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,312 shares of the company’s stock after purchasing an additional 153 shares during the quarter. Chapin Davis Inc.’s holdings in Coca-Cola were worth $1,100,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. New Millennium Group LLC bought a new stake in Coca-Cola in the second quarter worth approximately $26,000. Quarry LP purchased a new position in shares of Coca-Cola during the second quarter valued at approximately $27,000. ESL Trust Services LLC purchased a new position in Coca-Cola in the first quarter worth $28,000. Redmont Wealth Advisors LLC purchased a new position in Coca-Cola in the first quarter worth $28,000. Finally, DiNuzzo Private Wealth Inc. boosted its position in Coca-Cola by 65.0% in the first quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock worth $32,000 after purchasing an additional 206 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Stock Down 1.7 %

Coca-Cola stock opened at $69.01 on Tuesday. The business has a fifty day moving average of $70.35 and a two-hundred day moving average of $65.15. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The firm has a market cap of $297.29 billion, a P/E ratio of 27.60, a P/E/G ratio of 3.97 and a beta of 0.60. The Coca-Cola Company has a twelve month low of $52.11 and a twelve month high of $73.53.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.81 by $0.03. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The firm had revenue of $12.40 billion during the quarter, compared to analyst estimates of $11.78 billion. During the same quarter in the prior year, the business posted $0.78 EPS. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were paid a $0.485 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a yield of 2.81%. Coca-Cola’s dividend payout ratio (DPR) is 77.60%.

Insider Buying and Selling

In related news, EVP Nancy Quan sold 19,304 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $64.96, for a total value of $1,253,987.84. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at $14,507,516.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Coca-Cola news, EVP Nancy Quan sold 19,304 shares of the stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $64.96, for a total transaction of $1,253,987.84. Following the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $14,507,516.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James Quincey sold 42,397 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $70.02, for a total value of $2,968,637.94. Following the sale, the chief executive officer now directly owns 442,546 shares in the company, valued at $30,987,070.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 376,096 shares of company stock worth $25,982,352 in the last 90 days. Insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on KO. Royal Bank of Canada boosted their target price on Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Cfra restated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. BNP Paribas assumed coverage on Coca-Cola in a report on Monday, June 24th. They issued an “outperform” rating and a $72.00 price objective for the company. Wells Fargo & Company increased their price objective on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Finally, StockNews.com lowered Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $71.07.

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.