Elgethun Capital Management Acquires 268 Shares of The Coca-Cola Company (NYSE:KO)

Elgethun Capital Management raised its holdings in shares of The Coca-Cola Company (NYSE:KO) by 2.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 10,781 shares of the company’s stock after purchasing an additional 268 shares during the quarter. Elgethun Capital Management’s holdings in Coca-Cola were worth $671,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Crowley Wealth Management Inc. bought a new stake in shares of Coca-Cola in the 4th quarter valued at $27,000. Mainstream Capital Management LLC bought a new stake in shares of Coca-Cola in the fourth quarter worth about $31,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Coca-Cola during the fourth quarter worth about $38,000. Retirement Wealth Solutions LLC acquired a new position in shares of Coca-Cola in the 4th quarter valued at approximately $37,000. Finally, Hoey Investments Inc. grew its position in shares of Coca-Cola by 41.9% in the 4th quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock valued at $38,000 after purchasing an additional 181 shares during the period. 70.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Piper Sandler lifted 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. Morgan Stanley boosted their price objective on shares of Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. UBS Group increased their target price on Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. cut their price target on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Finally, Wells Fargo & Company increased their price objective on Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.24.

Insider Buying and Selling

In other Coca-Cola news, COO Henrique Braun sold 25,277 shares of the stock in a transaction that occurred 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 transaction, the chief operating officer now owns 52,466 shares in the company, valued at $3,749,745.02. This represents a 32.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Lisa Chang sold 13,445 shares of Coca-Cola stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $71.50, for a total transaction of $961,317.50. Following the completion of the sale, the executive vice president now owns 94,676 shares of the company’s stock, valued at approximately $6,769,334. The trade was a 12.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 313,423 shares of company stock valued at $22,263,071. 0.97% of the stock is owned by company insiders.

Coca-Cola Stock Performance

NYSE KO opened at $69.87 on Monday. The stock has a market cap of $300.67 billion, a PE ratio of 28.29, a P/E/G ratio of 3.79 and a beta of 0.45. 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 firm has a 50-day moving average of $68.72 and a 200-day moving average of $66.38. The Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.95.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. On average, sell-side analysts anticipate that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid a $0.51 dividend. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a dividend yield of 2.92%. Coca-Cola’s dividend payout ratio is 82.59%.

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.