Chapin Davis Inc. Has $965,000 Holdings in The Coca-Cola Company (NYSE:KO)

Chapin Davis Inc. boosted its holdings in shares of The Coca-Cola Company (NYSE:KO) by 6.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,159 shares of the company’s stock after buying an additional 933 shares during the quarter. Chapin Davis Inc.’s holdings in Coca-Cola were worth $965,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of KO. Tidemark LLC acquired a new position in shares of Coca-Cola in the fourth quarter valued at approximately $26,000. ESL Trust Services LLC acquired a new position in shares of Coca-Cola in the first quarter valued at approximately $28,000. Redmont Wealth Advisors LLC acquired a new position in shares of Coca-Cola in the first quarter valued at approximately $28,000. Private Wealth Management Group LLC acquired a new position in shares of Coca-Cola in the fourth quarter valued at approximately $27,000. Finally, Criterion Capital Advisors LLC acquired a new position in shares of Coca-Cola in the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Barclays upped their target price on Coca-Cola from $69.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. StockNews.com downgraded Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. TD Cowen upped their target price on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Argus increased their price target on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Finally, Bank of America increased their price target on Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and a consensus target price of $70.20.

Insider Activity

In other news, EVP Nancy Quan sold 19,304 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $63.44, for a total value of $1,224,645.76. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $14,168,055.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Lisa Chang sold 58,122 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $68.51, for a total value of $3,981,938.22. Following the completion of the sale, the executive vice president now directly owns 74,067 shares in the company, valued at $5,074,330.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nancy Quan sold 19,304 shares of the stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $63.44, for a total value of $1,224,645.76. Following the completion of the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $14,168,055.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 871,162 shares of company stock worth $571,697,887. Insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

NYSE KO traded up $0.53 on Friday, hitting $69.18. 12,651,230 shares of the company’s stock were exchanged, compared to its average volume of 13,051,887. The stock has a 50-day moving average of $65.11 and a 200-day moving average of $62.40. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The Coca-Cola Company has a 52 week low of $51.55 and a 52 week high of $69.67. The stock has a market cap of $298.02 billion, a price-to-earnings ratio of 27.67, a P/E/G ratio of 3.80 and a beta of 0.59.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.03. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The firm had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.78 billion. During the same period in the prior year, the company earned $0.78 earnings per share. The company’s quarterly revenue was up 3.3% on a year-over-year basis. Analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend is Friday, September 13th. Coca-Cola’s payout ratio is 77.60%.

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.