Campbell Capital Management Inc. Sells 259 Shares of The Coca-Cola Company (NYSE:KO)

Campbell Capital Management Inc. lowered its stake in shares of The Coca-Cola Company (NYSE:KO) by 0.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 40,095 shares of the company’s stock after selling 259 shares during the quarter. Coca-Cola makes up approximately 1.0% of Campbell Capital Management Inc.’s holdings, making the stock its 24th biggest holding. Campbell Capital Management Inc.’s holdings in Coca-Cola were worth $2,496,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its stake in shares of Coca-Cola by 18.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company’s stock valued at $4,617,400,000 after purchasing an additional 11,569,920 shares during the last quarter. FMR LLC boosted its stake in shares of Coca-Cola by 13.7% in the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company’s stock valued at $6,680,205,000 after purchasing an additional 11,206,995 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Coca-Cola in the 4th quarter valued at about $500,192,000. Wellington Management Group LLP boosted its stake in shares of Coca-Cola by 14.5% in the 3rd quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock valued at $2,271,885,000 after purchasing an additional 4,013,996 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Coca-Cola in the 3rd quarter valued at about $269,382,000. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Price Performance

NYSE KO opened at $69.16 on Friday. 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 $57.93 and a 12-month high of $73.53. The company has a market capitalization of $297.47 billion, a PE ratio of 28.00, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57. The firm’s 50 day moving average is $66.18 and its 200-day moving average is $66.61.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. Equities research analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $0.51 dividend. The ex-dividend date is Friday, March 14th. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.95%. Coca-Cola’s dividend payout ratio (DPR) is 82.59%.

Insider Activity

In related news, CEO James Quincey sold 145,435 shares of the firm’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $71.01, for a total value of $10,327,339.35. Following the completion of the transaction, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at approximately $24,324,191.46. This trade represents a 29.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nikolaos Koumettis sold 54,708 shares of the firm’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $70.96, for a total transaction of $3,882,079.68. Following the completion of the transaction, the insider now directly owns 246,909 shares of the company’s stock, valued at $17,520,662.64. This represents a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 313,423 shares of company stock worth $22,263,071 over the last ninety days. Insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on KO shares. DZ Bank raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Thursday, February 13th. Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their target price for the company from $69.00 to $75.00 in a research note on Thursday, January 30th. Barclays increased their price target on shares of Coca-Cola from $66.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Evercore ISI increased their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Finally, Piper Sandler increased their price target on shares of Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus target price of $74.24.

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.