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Sunbeam Capital Management LLC Buys New Shares in The Coca-Cola Company (NYSE:KO)

Coca-Cola logo with Consumer Staples background

Sunbeam Capital Management LLC purchased a new position in shares of The Coca-Cola Company (NYSE:KO - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 13,692 shares of the company's stock, valued at approximately $852,000. Coca-Cola comprises approximately 0.8% of Sunbeam Capital Management LLC's portfolio, making the stock its 29th largest position.

A number of other large investors have also bought and sold shares of KO. Charles Schwab Investment Management Inc. lifted its holdings in Coca-Cola by 18.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company's stock worth $4,617,400,000 after buying an additional 11,569,920 shares in the last quarter. Norges Bank acquired a new position in Coca-Cola during the 4th quarter worth $3,402,151,000. Northern Trust Corp lifted its holdings in Coca-Cola by 9.5% during the 4th quarter. Northern Trust Corp now owns 43,802,296 shares of the company's stock worth $2,727,131,000 after buying an additional 3,811,756 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Coca-Cola by 21.9% during the 4th quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company's stock worth $2,123,301,000 after buying an additional 6,118,819 shares in the last quarter. Finally, Capital International Investors lifted its holdings in Coca-Cola by 96.0% during the 4th quarter. Capital International Investors now owns 24,949,194 shares of the company's stock worth $1,553,337,000 after buying an additional 12,222,885 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Trading Up 0.1%

Shares of KO traded up $0.06 during trading hours on Thursday, reaching $71.21. The stock had a trading volume of 4,549,646 shares, compared to its average volume of 17,546,738. 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 52 week low of $60.62 and a 52 week high of $74.38. The firm has a 50-day moving average of $71.23 and a 200 day moving average of $67.14. The company has a market cap of $306.52 billion, a P/E ratio of 28.83, a P/E/G ratio of 3.79 and a beta of 0.47.

Coca-Cola (NYSE:KO - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.71 by $0.02. The firm had revenue of $11.13 billion during the quarter, compared to analysts' expectations of $11.23 billion. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The company's revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 EPS. On average, 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date is Friday, June 13th. Coca-Cola's dividend payout ratio (DPR) is presently 81.60%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Barclays reaffirmed an "overweight" rating on shares of Coca-Cola in a report on Thursday, March 27th. JPMorgan Chase & Co. increased their price target on Coca-Cola from $74.00 to $78.00 and gave the company an "overweight" rating in a research note on Monday, April 21st. Piper Sandler increased their price target on Coca-Cola from $73.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. DZ Bank raised Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price target on the stock in a research note on Thursday, February 13th. Finally, Wells Fargo & Company increased their price target on Coca-Cola from $70.00 to $75.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $75.81.

Read Our Latest Analysis on KO

Insiders Place Their Bets

In related news, EVP Beatriz R. Perez sold 60,326 shares of Coca-Cola stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $71.87, for a total value of $4,335,629.62. Following the sale, the executive vice president now owns 187,716 shares of the company's stock, valued at approximately $13,491,148.92. The trade was a 24.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO John Murphy sold 88,658 shares of Coca-Cola stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total value of $6,391,355.22. Following the completion of the sale, the chief financial officer now directly owns 205,511 shares in the company, valued at approximately $14,815,287.99. This represents a 30.14% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 229,761 shares of company stock worth $16,474,587. Corporate insiders own 0.97% of the company's stock.

Coca-Cola Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

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