Sunbeam Capital Management LLC Makes New $852,000 Investment in The Coca-Cola Company (NYSE:KO)

Sunbeam Capital Management LLC bought a new position in shares of The Coca-Cola Company (NYSE:KO - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 13,692 shares of the company's stock, valued at approximately $852,000. Coca-Cola makes up about 0.8% of Sunbeam Capital Management LLC's holdings, making the stock its 29th biggest position.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in Coca-Cola in the fourth quarter valued at about $3,402,151,000. Capital International Investors raised its stake in Coca-Cola by 96.0% in the fourth quarter. Capital International Investors now owns 24,949,194 shares of the company's stock valued at $1,553,337,000 after purchasing an additional 12,222,885 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Coca-Cola by 18.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company's stock worth $4,617,400,000 after acquiring an additional 11,569,920 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Coca-Cola during the fourth quarter worth about $500,192,000. Finally, Franklin Resources Inc. raised its stake in Coca-Cola by 21.9% during the fourth quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company's stock worth $2,123,301,000 after acquiring an additional 6,118,819 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Jefferies Financial Group raised Coca-Cola from a "hold" rating to a "buy" rating and boosted their target price for the stock from $69.00 to $75.00 in a research note on Thursday, January 30th. Piper Sandler boosted their target price on Coca-Cola from $73.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. Cfra Research raised Coca-Cola to a "strong-buy" rating in a research note on Tuesday, April 15th. Evercore ISI boosted their price target on Coca-Cola from $72.00 to $75.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Finally, Barclays restated an "overweight" rating on shares of Coca-Cola in a report on Thursday, March 27th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $75.81.

Coca-Cola Stock Performance

Shares of KO stock traded down $0.04 on Tuesday, hitting $71.73. 10,658,148 shares of the stock were exchanged, compared to its average volume of 15,711,147. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The firm has a market capitalization of $308.75 billion, a PE ratio of 29.04, a P/E/G ratio of 3.79 and a beta of 0.47. The Coca-Cola Company has a one year low of $60.62 and a one year high of $74.38. The firm's 50 day moving average is $71.14 and its two-hundred day moving average is $67.08.

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, topping the consensus estimate of $0.71 by $0.02. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The business had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.23 billion. During the same quarter last year, the company earned $0.72 EPS. The firm's revenue was down .7% compared to the same quarter last year. Sell-side analysts expect that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a $0.51 dividend. The ex-dividend date is Friday, June 13th. This represents a $2.04 annualized dividend and a yield of 2.84%. Coca-Cola's dividend payout ratio is currently 81.60%.

Insiders Place Their Bets

In other news, COO Henrique Braun sold 25,277 shares of Coca-Cola stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $71.47, for a total transaction of $1,806,547.19. Following the completion of the sale, the chief operating officer now owns 52,466 shares in the company, valued at approximately $3,749,745.02. This trade represents a 32.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Nikolaos Koumettis sold 54,708 shares of Coca-Cola stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $70.96, for a total value of $3,882,079.68. Following the sale, the insider now owns 246,909 shares of the company's stock, valued at approximately $17,520,662.64. This trade represents a 18.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 284,469 shares of company stock worth $20,356,667 in the last quarter. 0.97% of the stock is owned by company insiders.

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.