RFP Financial Group LLC lessened its stake in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 5.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 69,148 shares of the company's stock after selling 4,049 shares during the period. CocaCola accounts for about 2.0% of RFP Financial Group LLC's portfolio, making the stock its 11th largest position. RFP Financial Group LLC's holdings in CocaCola were worth $4,948,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently modified their holdings of the stock. Nilsine Partners LLC lifted its position in shares of CocaCola by 11.6% during the 1st quarter. Nilsine Partners LLC now owns 51,185 shares of the company's stock valued at $3,666,000 after acquiring an additional 5,329 shares during the period. Woodmont Investment Counsel LLC increased its stake in CocaCola by 4.3% during the 1st quarter. Woodmont Investment Counsel LLC now owns 111,737 shares of the company's stock valued at $8,003,000 after purchasing an additional 4,647 shares in the last quarter. Weaver Capital Management LLC increased its stake in CocaCola by 5.0% during the 1st quarter. Weaver Capital Management LLC now owns 27,490 shares of the company's stock valued at $1,969,000 after purchasing an additional 1,318 shares in the last quarter. CCG Wealth Management LLC increased its stake in CocaCola by 11.9% during the 1st quarter. CCG Wealth Management LLC now owns 4,328 shares of the company's stock valued at $310,000 after purchasing an additional 460 shares in the last quarter. Finally, Praxis Investment Management Inc. increased its stake in CocaCola by 23.3% during the 1st quarter. Praxis Investment Management Inc. now owns 105,530 shares of the company's stock valued at $7,558,000 after purchasing an additional 19,910 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.
Insider Buying and Selling at CocaCola
In other CocaCola news, CEO James Quincey sold 266,403 shares of the company's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the sale, the chief executive officer now directly owns 275,946 shares of the company's stock, valued at $19,884,668.76. This represents a 49.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Beatriz R. Perez sold 60,326 shares of the company's stock in a transaction dated 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 sale, the executive vice president now directly owns 187,716 shares in the company, valued at approximately $13,491,148.92. This trade represents a 24.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 415,387 shares of company stock valued at $29,923,985 over the last three months. 0.90% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
A number of brokerages have commented on KO. JPMorgan Chase & Co. boosted their price target on shares of CocaCola from $74.00 to $78.00 and gave the company an "overweight" rating in a research note on Monday, April 21st. Barclays restated an "overweight" rating on shares of CocaCola in a research note on Thursday, March 27th. Cfra Research upgraded shares of CocaCola to a "strong-buy" rating in a research note on Tuesday, April 15th. UBS Group upped their target price on shares of CocaCola from $84.00 to $86.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Finally, Royal Bank Of Canada upped their target price on shares of CocaCola from $73.00 to $76.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $76.00.
Check Out Our Latest Research Report on KO
CocaCola Stock Performance
Shares of NYSE:KO traded down $0.37 during midday trading on Friday, reaching $68.84. The company had a trading volume of 40,840,311 shares, compared to its average volume of 15,984,232. The company's 50 day moving average price is $71.50 and its 200 day moving average price is $68.07. 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 $296.32 billion, a P/E ratio of 27.54, a P/E/G ratio of 3.61 and a beta of 0.46. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38.
CocaCola (NYSE:KO - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates of $0.71 by $0.02. The company had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.23 billion. CocaCola had a net margin of 23.00% and a return on equity of 45.49%. The firm's quarterly revenue was down .7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.72 EPS. As a group, sell-side analysts anticipate that CocaCola Company will post 2.96 EPS for the current fiscal year.
CocaCola Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend is Friday, June 13th. CocaCola's dividend payout ratio (DPR) is presently 81.60%.
About CocaCola
(
Free Report)
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.
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