Hanson & Doremus Investment Management Has $3.61 Million Stock Holdings in The Coca-Cola Company (NYSE:KO)

Hanson & Doremus Investment Management lifted its position in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 15.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,431 shares of the company's stock after purchasing an additional 6,917 shares during the period. Hanson & Doremus Investment Management's holdings in Coca-Cola were worth $3,612,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Voleon Capital Management LP acquired a new position in shares of Coca-Cola during the 4th quarter worth about $2,513,000. Clark Capital Management Group Inc. increased its stake in shares of Coca-Cola by 31.8% during the 4th quarter. Clark Capital Management Group Inc. now owns 848,868 shares of the company's stock worth $52,851,000 after purchasing an additional 204,681 shares during the last quarter. Alphinity Investment Management Pty Ltd increased its stake in shares of Coca-Cola by 8.1% during the 4th quarter. Alphinity Investment Management Pty Ltd now owns 10,484,527 shares of the company's stock worth $652,767,000 after purchasing an additional 783,161 shares during the last quarter. StoneX Group Inc. increased its stake in shares of Coca-Cola by 80.0% during the 4th quarter. StoneX Group Inc. now owns 51,775 shares of the company's stock worth $3,224,000 after purchasing an additional 23,009 shares during the last quarter. Finally, Fortress Financial Group LLC bought a new stake in shares of Coca-Cola during the 4th quarter worth about $416,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Stock Performance

NYSE KO opened at $70.94 on Monday. The firm has a 50-day moving average price of $71.56 and a two-hundred day moving average price of $67.89. The company has a market capitalization of $305.36 billion, a P/E ratio of 28.72, a P/E/G ratio of 3.79 and a beta of 0.46. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The Coca-Cola Company has a 12-month low of $60.62 and a 12-month high of $74.38.

Coca-Cola (NYSE:KO - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.71 by $0.02. The company had revenue of $11.13 billion during the quarter, compared to analysts' expectations of $11.23 billion. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The business's revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.72 EPS. Analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date is Friday, June 13th. Coca-Cola's dividend payout ratio is 81.60%.

Insider Buying and Selling

In other Coca-Cola news, CEO James Quincey sold 266,403 shares of the company's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $72.06, for a total value of $19,197,000.18. Following the completion of the transaction, the chief executive officer now directly owns 275,946 shares in the company, valued at approximately $19,884,668.76. This represents a 49.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Beatriz R. Perez sold 60,326 shares of the company's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the completion of the sale, the executive vice president now directly owns 187,716 shares in the company, valued at approximately $13,491,148.92. This represents a 24.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 415,387 shares of company stock worth $29,923,985 in the last three months. 0.97% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Morgan Stanley reaffirmed an "overweight" rating and set a $81.00 target price on shares of Coca-Cola in a report on Monday, June 9th. Royal Bank of Canada lifted their target price on shares of Coca-Cola from $73.00 to $76.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Piper Sandler lifted their target price on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. Barclays reaffirmed an "overweight" rating on shares of Coca-Cola in a report on Thursday, March 27th. Finally, UBS Group lifted their target price on shares of Coca-Cola from $84.00 to $86.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Coca-Cola presently has an average rating of "Buy" and a consensus target price of $76.00.

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.

Want to see what other hedge funds are holding KO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Coca-Cola Company (NYSE:KO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.