RMB Capital Management LLC increased its holdings in shares of The Coca-Cola Company (NYSE:KO) by 1.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,173 shares of the company’s stock after purchasing an additional 235 shares during the quarter. RMB Capital Management LLC’s holdings in The Coca-Cola were worth $905,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently bought and sold shares of KO. OLD Mission Capital LLC bought a new position in The Coca-Cola in the third quarter valued at about $244,000. Sage Mountain Advisors LLC bought a new position in shares of The Coca-Cola in the fourth quarter worth about $279,000. Almanack Investment Partners LLC. raised its stake in shares of The Coca-Cola by 6.7% in the fourth quarter. Almanack Investment Partners LLC. now owns 9,790 shares of the company’s stock worth $537,000 after buying an additional 616 shares during the period. First Interstate Bank bought a new position in shares of The Coca-Cola in the fourth quarter worth about $231,000. Finally, DB Wealth Management Group LLC bought a new position in shares of The Coca-Cola in the fourth quarter worth about $91,000. 66.29% of the stock is currently owned by institutional investors.
In related news, CEO James Quincey sold 110,000 shares of the business’s stock in a transaction on Friday, April 23rd. The stock was sold at an average price of $54.48, for a total transaction of $5,992,800.00. Following the transaction, the chief executive officer now directly owns 266,718 shares in the company, valued at approximately $14,530,796.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Nikolaos Koumettis sold 60,000 shares of the business’s stock in a transaction on Monday, March 29th. The stock was sold at an average price of $53.30, for a total value of $3,198,000.00. Following the transaction, the insider now owns 145,011 shares in the company, valued at $7,729,086.30. The disclosure for this sale can be found here. Insiders have sold a total of 255,893 shares of company stock valued at $13,956,239 over the last three months. 1.01% of the stock is owned by corporate insiders.
The Coca-Cola (NYSE:KO) last announced its earnings results on Sunday, April 18th. The company reported $0.55 EPS for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.05. The Coca-Cola had a return on equity of 41.48% and a net margin of 21.59%. The firm had revenue of $9 billion during the quarter, compared to analysts’ expectations of $8.58 billion. During the same quarter in the previous year, the business earned $0.51 EPS. The company’s quarterly revenue was up 4.7% on a year-over-year basis. Equities analysts expect that The Coca-Cola Company will post 2.18 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 1st. Investors of record on Tuesday, June 15th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend is Monday, June 14th. The Coca-Cola’s dividend payout ratio is currently 86.15%.
Several research analysts have recently commented on KO shares. Credit Suisse Group reaffirmed a “buy” rating and issued a $60.00 price objective on shares of The Coca-Cola in a research note on Wednesday, April 21st. Citigroup increased their target price on The Coca-Cola from $54.00 to $57.00 in a research report on Tuesday, April 20th. Evercore ISI increased their target price on The Coca-Cola from $60.00 to $63.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 20th. Morgan Stanley increased their target price on The Coca-Cola from $60.00 to $64.00 and gave the stock an “overweight” rating in a research report on Friday, June 4th. Finally, Royal Bank of Canada upgraded The Coca-Cola from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $55.00 to $60.00 in a research report on Monday, March 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $58.00.
The 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; water, enhanced water, and sports drinks; juice, dairy, and plantÂ-based beverages; tea and coffee; and energy drinks. 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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