The Coca-Cola Company (NYSE:KO) Shares Sold by Hamel Associates Inc.

Hamel Associates Inc. cut its holdings in shares of The Coca-Cola Company (NYSE:KO) by 0.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 113,191 shares of the company’s stock after selling 909 shares during the period. Coca-Cola comprises approximately 2.3% of Hamel Associates Inc.’s investment portfolio, making the stock its 18th biggest holding. Hamel Associates Inc.’s holdings in Coca-Cola were worth $7,205,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in KO. Gilbert & Cook Inc. increased its holdings in shares of Coca-Cola by 5.6% during the 4th quarter. Gilbert & Cook Inc. now owns 15,971 shares of the company’s stock valued at $941,000 after purchasing an additional 841 shares in the last quarter. Accretive Wealth Partners LLC increased its holdings in Coca-Cola by 1.4% in the fourth quarter. Accretive Wealth Partners LLC now owns 25,843 shares of the company’s stock valued at $1,523,000 after buying an additional 351 shares in the last quarter. Aveo Capital Partners LLC raised its position in shares of Coca-Cola by 13.9% in the fourth quarter. Aveo Capital Partners LLC now owns 9,709 shares of the company’s stock worth $572,000 after acquiring an additional 1,182 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in shares of Coca-Cola by 1.5% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 25,125 shares of the company’s stock worth $1,481,000 after acquiring an additional 360 shares in the last quarter. Finally, Gryphon Financial Partners LLC grew its position in shares of Coca-Cola by 72.0% during the 4th quarter. Gryphon Financial Partners LLC now owns 17,973 shares of the company’s stock valued at $1,034,000 after acquiring an additional 7,521 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Price Performance

Shares of Coca-Cola stock traded down $0.93 on Thursday, hitting $71.63. 9,617,578 shares of the company were exchanged, compared to its average volume of 13,093,215. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The company has a 50-day moving average price of $67.18 and a 200 day moving average price of $63.41. The stock has a market capitalization of $308.58 billion, a price-to-earnings ratio of 28.78, a price-to-earnings-growth ratio of 4.05 and a beta of 0.59. The Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $73.53.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The company had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.78 billion. During the same quarter in the previous year, the company posted $0.78 earnings per share. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, sell-side analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 2.71%. The ex-dividend date is Friday, September 13th. Coca-Cola’s payout ratio is currently 77.60%.

Insiders Place Their Bets

In related news, insider Nikolaos Koumettis sold 80,891 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $62.34, for a total value of $5,042,744.94. Following the transaction, the insider now directly owns 218,880 shares in the company, valued at $13,644,979.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Coca-Cola news, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the completion of the sale, the insider now directly owns 1,883,546 shares in the company, valued at $1,742,280,050. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Nikolaos Koumettis sold 80,891 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $62.34, for a total transaction of $5,042,744.94. Following the completion of the transaction, the insider now owns 218,880 shares in the company, valued at $13,644,979.20. The disclosure for this sale can be found here. Insiders have sold 1,074,910 shares of company stock valued at $585,972,318 over the last ninety days. Company insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on KO. Truist Financial upped their price target on Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. BNP Paribas initiated coverage on Coca-Cola in a research report on Monday, June 24th. They set an “outperform” rating and a $72.00 target price on the stock. JPMorgan Chase & Co. lifted their price target on shares of Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Wells Fargo & Company upped their price objective on shares of Coca-Cola from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $70.73.

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.