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:KOFree Report) 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:KOGet Free Report) 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.

Read Our Latest Research Report on KO

About Coca-Cola

(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.

Further Reading

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

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