Chapin Davis Inc. Buys 4,377 Shares of The Coca-Cola Company (NYSE:KO)

Chapin Davis Inc. grew its stake in shares of The Coca-Cola Company (NYSE:KO) by 44.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,226 shares of the company’s stock after acquiring 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.

Other large investors have also recently made changes to their positions in the company. Enterprise Bank & Trust Co grew its holdings in shares of Coca-Cola by 3.4% in the 4th quarter. Enterprise Bank & Trust Co now owns 5,021 shares of the company’s stock worth $296,000 after acquiring an additional 167 shares during the last quarter. Goelzer Investment Management Inc. raised its holdings in Coca-Cola by 1.8% during the 4th quarter. Goelzer Investment Management Inc. now owns 9,681 shares of the company’s stock worth $571,000 after buying an additional 169 shares during the period. Elk River Wealth Management LLC lifted its stake in Coca-Cola by 1.6% during the fourth quarter. Elk River Wealth Management LLC now owns 10,838 shares of the company’s stock valued at $639,000 after buying an additional 170 shares in the last quarter. KRS Capital Management LLC boosted its holdings in shares of Coca-Cola by 3.8% in the fourth quarter. KRS Capital Management LLC now owns 4,645 shares of the company’s stock worth $274,000 after buying an additional 170 shares during the period. Finally, Wayfinding Financial LLC increased its position in shares of Coca-Cola by 1.8% in the fourth quarter. Wayfinding Financial LLC now owns 9,734 shares of the company’s stock worth $573,000 after acquiring an additional 175 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on KO shares. Argus raised their target price on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. BNP Paribas initiated coverage on Coca-Cola in a research note on Monday, June 24th. They set an “outperform” rating and a $72.00 target price on the stock. StockNews.com lowered shares of Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, June 14th. 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. Finally, Barclays increased their target price on shares of Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $68.83.

Insider Buying and Selling at Coca-Cola

In related news, insider Nikolaos Koumettis sold 80,891 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $62.34, for a total transaction of $5,042,744.94. Following the sale, the insider now directly owns 218,880 shares in the company, valued at approximately $13,644,979.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Coca-Cola 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 of the company’s stock, valued at approximately $13,644,979.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Nancy Quan sold 19,304 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $63.44, for a total transaction of $1,224,645.76. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $14,168,055.20. The disclosure for this sale can be found here. Insiders have sold a total of 223,665 shares of company stock worth $13,995,465 over the last ninety days. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

NYSE KO traded up $0.61 during trading on Monday, reaching $64.26. 1,147,215 shares of the company traded hands, compared to its average volume of 13,027,672. The Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $64.36. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 1.04. The stock’s 50 day moving average price is $62.72 and its two-hundred day moving average price is $60.78. The company has a market cap of $276.83 billion, a price-to-earnings ratio of 25.46, a P/E/G ratio of 3.60 and a beta of 0.59.

Coca-Cola (NYSE:KO) last announced its quarterly 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 business had revenue of $11.30 billion for the quarter, compared to analyst estimates of $11.01 billion. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. Coca-Cola’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.68 EPS. As a group, analysts anticipate that The Coca-Cola Company will post 2.82 EPS for the current year.

Coca-Cola Announces Dividend

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