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

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.

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

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.