Chesapeake Wealth Management Purchases 1,494 Shares of The Coca-Cola Company (NYSE:KO)

Chesapeake Wealth Management grew its holdings in shares of The Coca-Cola Company (NYSE:KO) by 6.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,429 shares of the company’s stock after buying an additional 1,494 shares during the period. Chesapeake Wealth Management’s holdings in Coca-Cola were worth $1,684,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. New Millennium Group LLC purchased a new position in Coca-Cola during the second quarter valued at $26,000. Quarry LP purchased a new position in shares of Coca-Cola in the 2nd quarter worth about $27,000. Hara Capital LLC purchased a new position in shares of Coca-Cola in the 3rd quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Coca-Cola during the 3rd quarter valued at about $36,000. Finally, Mount Lucas Management LP bought a new stake in Coca-Cola during the 2nd quarter valued at about $38,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Coca-Cola

In related news, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $15,968,095. This represents a 7.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James Quincey sold 102,533 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the sale, the chief executive officer now owns 442,546 shares in the company, valued at approximately $30,987,070.92. The trade was a 18.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 303,748 shares of company stock valued at $20,677,431 over the last 90 days. 0.97% of the stock is currently owned by corporate insiders.

Coca-Cola Trading Up 0.2 %

Shares of Coca-Cola stock opened at $61.85 on Tuesday. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The stock has a market capitalization of $266.44 billion, a PE ratio of 25.56, a P/E/G ratio of 3.75 and a beta of 0.61. The Coca-Cola Company has a 1-year low of $56.96 and a 1-year high of $73.53. The company’s fifty day simple moving average is $68.43 and its 200-day simple moving average is $66.54.

Coca-Cola (NYSE:KO) last released its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The company had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. During the same period in the previous year, the business earned $0.74 earnings per share. Coca-Cola’s quarterly revenue was down .8% compared to the same quarter last year. As a group, equities analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s payout ratio is 80.17%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on KO. Citigroup upped their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Cfra reiterated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Barclays decreased their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Truist Financial increased their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $72.36.

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.