Channel Wealth LLC Has $676,000 Stake in The Coca-Cola Company (NYSE:KO)

Channel Wealth LLC decreased its stake in shares of The Coca-Cola Company (NYSE:KO) by 75.8% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 9,439 shares of the company’s stock after selling 29,549 shares during the period. Channel Wealth LLC’s holdings in Coca-Cola were worth $676,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Peachtree Investment Partners LLC increased its position in Coca-Cola by 1.4% in the 4th quarter. Peachtree Investment Partners LLC now owns 11,189 shares of the company’s stock valued at $697,000 after buying an additional 157 shares in the last quarter. Fort Sheridan Advisors LLC increased its position in Coca-Cola by 3.3% in the 4th quarter. Fort Sheridan Advisors LLC now owns 4,993 shares of the company’s stock valued at $311,000 after buying an additional 161 shares in the last quarter. Excalibur Management Corp increased its position in Coca-Cola by 0.6% in the 4th quarter. Excalibur Management Corp now owns 29,412 shares of the company’s stock valued at $1,831,000 after buying an additional 161 shares in the last quarter. Tradition Wealth Management LLC increased its position in Coca-Cola by 3.0% in the 4th quarter. Tradition Wealth Management LLC now owns 5,737 shares of the company’s stock valued at $357,000 after buying an additional 167 shares in the last quarter. Finally, Aviance Capital Partners LLC increased its position in Coca-Cola by 0.7% in the 4th quarter. Aviance Capital Partners LLC now owns 23,988 shares of the company’s stock valued at $1,493,000 after buying an additional 171 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Price Performance

Coca-Cola stock opened at $71.39 on Thursday. The Coca-Cola Company has a 12 month low of $60.62 and a 12 month high of $74.38. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The business’s 50 day simple moving average is $71.41 and its 200 day simple moving average is $67.45. The company has a market cap of $307.28 billion, a price-to-earnings ratio of 28.90, a PEG ratio of 3.79 and a beta of 0.47.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.71 by $0.02. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The business had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.23 billion. During the same quarter in the prior year, the business earned $0.72 earnings per share. Coca-Cola’s revenue for the quarter was down .7% on a year-over-year basis. Sell-side analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 annualized dividend and a yield of 2.86%. Coca-Cola’s payout ratio is 81.60%.

Insider Activity at Coca-Cola

In other Coca-Cola news, insider Nikolaos Koumettis sold 55,500 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $71.01, for a total transaction of $3,941,055.00. Following the sale, the insider now owns 246,909 shares of the company’s stock, valued at $17,533,008.09. The trade was a 18.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Henrique Braun sold 25,277 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $71.47, for a total transaction of $1,806,547.19. Following the sale, the chief operating officer now directly owns 52,466 shares in the company, valued at $3,749,745.02. The trade was a 32.51% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 496,164 shares of company stock worth $35,671,587. Insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on KO shares. Piper Sandler lifted their price target on Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Wells Fargo & Company lifted their price target on Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Evercore ISI lifted their price target on Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. JPMorgan Chase & Co. lifted their price target on Coca-Cola from $74.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, April 21st. Finally, Royal Bank of Canada lifted their price target on Coca-Cola from $73.00 to $76.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $75.81.

Coca-Cola Company 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.