Raleigh Capital Management Inc. Has $1.67 Million Holdings in CocaCola Company (The) (NYSE:KO)

Raleigh Capital Management Inc. cut its holdings in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 26.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,337 shares of the company's stock after selling 8,518 shares during the period. Raleigh Capital Management Inc.'s holdings in CocaCola were worth $1,671,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Callan Capital LLC increased its position in CocaCola by 16.1% in the first quarter. Callan Capital LLC now owns 10,154 shares of the company's stock worth $727,000 after buying an additional 1,411 shares in the last quarter. TD Private Client Wealth LLC grew its holdings in CocaCola by 26.6% during the 1st quarter. TD Private Client Wealth LLC now owns 100,794 shares of the company's stock valued at $7,219,000 after buying an additional 21,178 shares in the last quarter. OLD Republic International Corp lifted its stake in shares of CocaCola by 0.5% in the 1st quarter. OLD Republic International Corp now owns 1,047,300 shares of the company's stock valued at $75,008,000 after purchasing an additional 5,000 shares during the last quarter. Capital Advisors Inc. OK lifted its stake in shares of CocaCola by 2.5% in the 1st quarter. Capital Advisors Inc. OK now owns 571,404 shares of the company's stock valued at $40,924,000 after purchasing an additional 14,167 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in shares of CocaCola by 12.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 5,672,922 shares of the company's stock valued at $406,295,000 after purchasing an additional 642,620 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on KO shares. Morgan Stanley reaffirmed an "overweight" rating and set a $81.00 target price on shares of CocaCola in a research report on Monday, June 9th. Royal Bank Of Canada upped their price objective on CocaCola from $73.00 to $76.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Barclays reaffirmed an "overweight" rating on shares of CocaCola in a research note on Thursday, March 27th. Cfra Research raised CocaCola to a "strong-buy" rating in a research report on Tuesday, April 15th. Finally, UBS Group lifted their price objective on CocaCola from $84.00 to $86.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $76.27.

CocaCola Trading Down 1.4%

Shares of NYSE:KO traded down $0.97 during midday trading on Wednesday, hitting $69.28. The company had a trading volume of 17,363,815 shares, compared to its average volume of 16,215,358. The firm has a fifty day simple moving average of $71.02 and a 200 day simple moving average of $68.71. The company has a current ratio of 1.10, a quick ratio of 0.89 and a debt-to-equity ratio of 1.57. The stock has a market cap of $298.18 billion, a price-to-earnings ratio of 27.71, a PEG ratio of 3.72 and a beta of 0.45. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38.

CocaCola (NYSE:KO - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.02. CocaCola had a return on equity of 45.49% and a net margin of 23.00%. The firm had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.23 billion. During the same quarter last year, the business posted $0.72 EPS. The company's revenue for the quarter was down .7% on a year-over-year basis. On average, analysts predict that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date of this dividend was Friday, June 13th. CocaCola's dividend payout ratio is currently 81.60%.

Insider Activity at CocaCola

In related news, EVP Beatriz R. Perez sold 60,326 shares of CocaCola stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $71.87, for a total value of $4,335,629.62. Following the sale, the executive vice president owned 187,716 shares of the company's stock, valued at approximately $13,491,148.92. The trade was a 24.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO John Murphy sold 88,658 shares of CocaCola stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total value of $6,391,355.22. Following the completion of the sale, the chief financial officer directly owned 205,511 shares in the company, valued at approximately $14,815,287.99. This represents a 30.14% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 415,387 shares of company stock valued at $29,923,985. 0.90% of the stock is owned by insiders.

About CocaCola

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.