Sky Investment Group LLC Has $9.97 Million Holdings in The Coca-Cola Company (NYSE:KO)

Sky Investment Group LLC boosted its position in shares of The Coca-Cola Company (NYSE:KO) by 0.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 139,143 shares of the company’s stock after buying an additional 990 shares during the period. Coca-Cola makes up approximately 1.8% of Sky Investment Group LLC’s investment portfolio, making the stock its 15th largest position. Sky Investment Group LLC’s holdings in Coca-Cola were worth $9,965,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of KO. Norges Bank acquired a new stake in Coca-Cola during the fourth quarter worth about $3,402,151,000. Capital International Investors grew its stake in Coca-Cola by 96.0% during the fourth quarter. Capital International Investors now owns 24,949,194 shares of the company’s stock worth $1,553,337,000 after buying an additional 12,222,885 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Coca-Cola by 18.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company’s stock worth $4,617,400,000 after buying an additional 11,569,920 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Coca-Cola during the fourth quarter worth about $500,192,000. Finally, Franklin Resources Inc. grew its stake in Coca-Cola by 21.9% during the fourth quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company’s stock worth $2,123,301,000 after buying an additional 6,118,819 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. UBS Group increased their price objective on shares of Coca-Cola from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, April 30th. Morgan Stanley restated an “overweight” rating and issued a $81.00 price target on shares of Coca-Cola in a research note on Monday. Piper Sandler raised their price target on shares of Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Royal Bank of Canada raised their price target on shares of Coca-Cola from $73.00 to $76.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. Finally, DZ Bank upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Thursday, February 13th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Coca-Cola has an average rating of “Buy” and an average price target of $76.00.

Insider Transactions at Coca-Cola

In other news, EVP Beatriz R. Perez sold 60,326 shares of the firm’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the completion of the sale, the executive vice president now owns 187,716 shares of the company’s stock, valued at $13,491,148.92. This trade represents a 24.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO John Murphy sold 88,658 shares of the firm’s stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the sale, the chief financial officer now directly owns 205,511 shares of the company’s stock, valued at approximately $14,815,287.99. This trade represents a 30.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 415,387 shares of company stock valued at $29,923,985 in the last quarter. 0.97% of the stock is currently owned by company insiders.

Coca-Cola Stock Up 0.2%

Coca-Cola stock opened at $72.24 on Friday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The Coca-Cola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The firm has a 50 day moving average price of $71.50 and a two-hundred day moving average price of $67.80. The firm has a market cap of $310.94 billion, a price-to-earnings ratio of 29.25, a PEG ratio of 3.79 and a beta of 0.46.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.02. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The firm had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.23 billion. During the same quarter last year, the business earned $0.72 EPS. The company’s revenue was down .7% compared to the same quarter last year. Equities analysts predict that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.82%. The ex-dividend date is Friday, June 13th. Coca-Cola’s dividend payout ratio (DPR) is 81.60%.

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.