Richardson Capital Management LLC Invests $40,000 in The Coca-Cola Company (NYSE:KO)

Richardson Capital Management LLC purchased a new stake in shares of The Coca-Cola Company (NYSE:KO) during the 1st quarter, Holdings Channel reports. The fund purchased 650 shares of the company’s stock, valued at approximately $40,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CWA Asset Management Group LLC boosted its holdings in Coca-Cola by 8.9% during the third quarter. CWA Asset Management Group LLC now owns 7,882 shares of the company’s stock worth $441,000 after buying an additional 644 shares during the last quarter. Ancora Advisors LLC raised its holdings in Coca-Cola by 3.9% in the third quarter. Ancora Advisors LLC now owns 42,809 shares of the company’s stock worth $2,396,000 after purchasing an additional 1,593 shares during the period. Caxton Associates LP boosted its position in shares of Coca-Cola by 85.6% during the third quarter. Caxton Associates LP now owns 6,945 shares of the company’s stock worth $389,000 after purchasing an additional 3,203 shares in the last quarter. Rehmann Capital Advisory Group grew its holdings in shares of Coca-Cola by 6.0% in the 3rd quarter. Rehmann Capital Advisory Group now owns 30,416 shares of the company’s stock valued at $1,703,000 after buying an additional 1,716 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in shares of Coca-Cola by 6.7% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,018,361 shares of the company’s stock valued at $112,988,000 after buying an additional 126,696 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Nikolaos Koumettis sold 80,891 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $62.34, for a total value of $5,042,744.94. Following the completion of the transaction, the insider now owns 218,880 shares of the company’s stock, valued at approximately $13,644,979.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Nikolaos Koumettis sold 80,891 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $62.34, for a total value of $5,042,744.94. Following the completion of the transaction, the insider now owns 218,880 shares in the company, valued at approximately $13,644,979.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Beatriz R. Perez sold 57,298 shares of Coca-Cola stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the sale, the executive vice president now owns 167,107 shares in the company, valued at $10,358,962.93. The disclosure for this sale can be found here. In the last three months, insiders have sold 223,665 shares of company stock worth $13,995,465. Corporate insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on KO. StockNews.com cut Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, June 14th. BNP Paribas assumed coverage on Coca-Cola in a research report on Monday, June 24th. They set an “outperform” rating and a $72.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Barclays boosted their price objective on shares of Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Finally, UBS Group boosted their target price on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $68.83.

Coca-Cola Price Performance

Shares of Coca-Cola stock traded down $0.26 on Friday, reaching $63.65. 17,358,827 shares of the stock were exchanged, compared to its average volume of 11,241,235. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 1.04. The firm has a market cap of $274.20 billion, a PE ratio of 25.46, a P/E/G ratio of 3.60 and a beta of 0.59. The firm’s 50 day moving average is $62.72 and its 200-day moving average is $60.78. The Coca-Cola Company has a one year low of $51.55 and a one year high of $64.36.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.02. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. The company had revenue of $11.30 billion for the quarter, compared to analyst estimates of $11.01 billion. During the same quarter last year, the company posted $0.68 EPS. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, analysts anticipate that The Coca-Cola Company will post 2.82 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a $0.485 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.05%. Coca-Cola’s dividend payout ratio (DPR) is currently 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.