Breakwater Capital Group Reduces Stake in The Coca-Cola Company (NYSE:KO)

Breakwater Capital Group cut its holdings in shares of The Coca-Cola Company (NYSE:KO) by 2.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,635 shares of the company’s stock after selling 213 shares during the period. Breakwater Capital Group’s holdings in Coca-Cola were worth $475,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KO. Massachusetts Financial Services Co. MA boosted its position in shares of Coca-Cola by 9.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,653 shares of the company’s stock valued at $233,000 after purchasing an additional 329 shares in the last quarter. One Capital Management LLC purchased a new stake in shares of Coca-Cola in the 2nd quarter worth about $482,000. WealthPLAN Partners LLC increased its stake in shares of Coca-Cola by 2.2% in the 2nd quarter. WealthPLAN Partners LLC now owns 17,649 shares of the company’s stock worth $1,123,000 after acquiring an additional 382 shares in the last quarter. Luts & Greenleigh Group Inc. purchased a new position in Coca-Cola during the 2nd quarter valued at about $1,383,000. Finally, Lmcg Investments LLC boosted its stake in Coca-Cola by 1.9% during the second quarter. Lmcg Investments LLC now owns 407,458 shares of the company’s stock worth $25,935,000 after acquiring an additional 7,473 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction on Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.97% of the stock is owned by insiders.

Coca-Cola Price Performance

Shares of NYSE:KO opened at $61.98 on Wednesday. The company has a market capitalization of $267.00 billion, a P/E ratio of 25.61, a P/E/G ratio of 3.83 and a beta of 0.61. The Coca-Cola Company has a 1-year low of $57.93 and a 1-year high of $73.53. The firm’s 50 day simple moving average is $62.78 and its two-hundred day simple moving average is $66.47. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90.

Coca-Cola (NYSE:KO) last issued its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.03. The company had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. Coca-Cola’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.74 EPS. Research analysts expect that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 3.13%. The ex-dividend date was Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on KO shares. Piper Sandler initiated coverage on shares of Coca-Cola in a report on Tuesday, January 7th. They set an “overweight” rating and a $74.00 target price for the company. Barclays lowered their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Wells Fargo & Company decreased their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their price target for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. Finally, Morgan Stanley lowered their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Coca-Cola presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.60.

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.