Godsey & Gibb Inc. Buys 5,482 Shares of The Coca-Cola Company (NYSE:KO)

Godsey & Gibb Inc. raised its holdings in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 1.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 341,734 shares of the company's stock after buying an additional 5,482 shares during the quarter. Coca-Cola comprises 2.4% of Godsey & Gibb Inc.'s investment portfolio, making the stock its 13th largest holding. Godsey & Gibb Inc.'s holdings in Coca-Cola were worth $24,475,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Tallon Kerry Patrick bought a new stake in shares of Coca-Cola in the 4th quarter valued at about $241,000. Brighton Jones LLC lifted its stake in Coca-Cola by 13.3% in the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company's stock valued at $2,433,000 after acquiring an additional 4,591 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in Coca-Cola during the fourth quarter worth $24,472,000. Revolve Wealth Partners LLC grew its holdings in shares of Coca-Cola by 3.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company's stock valued at $548,000 after acquiring an additional 293 shares in the last quarter. Finally, Private Management Group Inc. grew its stake in shares of Coca-Cola by 15.2% in the fourth quarter. Private Management Group Inc. now owns 5,316 shares of the company's stock valued at $331,000 after buying an additional 703 shares in the last quarter. Institutional investors own 70.26% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on KO shares. Piper Sandler increased their price objective on Coca-Cola from $73.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. UBS Group raised their price target on shares of Coca-Cola from $84.00 to $86.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Morgan Stanley restated an "overweight" rating and set a $81.00 price target on shares of Coca-Cola in a report on Monday. Cfra Research raised Coca-Cola to a "strong-buy" rating in a research note on Tuesday, April 15th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Coca-Cola from $74.00 to $78.00 and gave the stock an "overweight" rating in a research note on Monday, April 21st. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $76.00.

Insider Activity at Coca-Cola

In related news, COO Henrique Braun sold 25,277 shares of the company's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $71.47, for a total value of $1,806,547.19. Following the completion of the sale, the chief operating officer now directly owns 52,466 shares in the company, valued at approximately $3,749,745.02. This represents a 32.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO James Quincey sold 266,403 shares of the company's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $72.06, for a total value of $19,197,000.18. Following the transaction, the chief executive officer now owns 275,946 shares of the company's stock, valued at approximately $19,884,668.76. This trade represents a 49.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 440,664 shares of company stock worth $31,730,532 in the last 90 days. Corporate insiders own 0.97% of the company's stock.

Coca-Cola Price Performance

KO traded up $0.41 during trading on Monday, reaching $71.76. 12,277,550 shares of the stock were exchanged, compared to its average volume of 15,806,080. The company has a market capitalization of $308.89 billion, a price-to-earnings ratio of 29.05, a P/E/G ratio of 3.79 and a beta of 0.46. The Coca-Cola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The business's 50 day moving average price is $71.39 and its two-hundred day moving average price is $67.68. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84.

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

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a yield of 2.84%. Coca-Cola's dividend payout ratio (DPR) is presently 81.60%.

About Coca-Cola

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.