Neville Rodie & Shaw Inc. Trims Stock Position in The Coca-Cola Company (NYSE:KO)

Neville Rodie & Shaw Inc. lessened its position in shares of The Coca-Cola Company (NYSE:KO) by 7.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 55,855 shares of the company’s stock after selling 4,180 shares during the quarter. Neville Rodie & Shaw Inc.’s holdings in Coca-Cola were worth $4,000,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Crowley Wealth Management Inc. purchased a new stake in shares of Coca-Cola during the 4th quarter valued at approximately $27,000. Mainstream Capital Management LLC purchased a new stake in Coca-Cola in the fourth quarter valued at approximately $31,000. REAP Financial Group LLC raised its position in Coca-Cola by 57.5% in the fourth quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock valued at $35,000 after purchasing an additional 208 shares during the period. Murphy & Mullick Capital Management Corp purchased a new stake in Coca-Cola in the fourth quarter valued at approximately $38,000. Finally, Hoey Investments Inc. raised its position in Coca-Cola by 41.9% in the fourth quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock valued at $38,000 after purchasing an additional 181 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Transactions at Coca-Cola

In other news, COO Henrique Braun sold 25,277 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $71.47, for a total transaction of $1,806,547.19. Following the completion of the sale, the chief operating officer now owns 52,466 shares in the company, valued at approximately $3,749,745.02. The trade was a 32.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nikolaos Koumettis sold 55,500 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $71.01, for a total transaction of $3,941,055.00. Following the sale, the insider now owns 246,909 shares of the company’s stock, valued at $17,533,008.09. This represents a 18.35% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 229,761 shares of company stock worth $16,474,587. 0.97% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Barclays reissued an “overweight” rating on shares of Coca-Cola in a research report on Thursday, March 27th. Wells Fargo & Company boosted their target price on Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Piper Sandler boosted their target price on Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. UBS Group upped their price objective on Coca-Cola from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, April 30th. Finally, Royal Bank of Canada increased their price objective on Coca-Cola from $73.00 to $76.00 and gave the company 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 given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $75.81.

Coca-Cola Stock Down 0.9%

Shares of NYSE:KO opened at $71.14 on Thursday. The company has a market capitalization of $306.21 billion, a PE ratio of 28.80, a P/E/G ratio of 3.79 and a beta of 0.47. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The Coca-Cola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The firm has a 50 day simple moving average of $71.23 and a 200-day simple moving average of $67.14.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.02. The business had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.23 billion. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The company’s revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.72 EPS. On average, equities analysts predict that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a dividend of $0.51 per share. The ex-dividend date is Friday, June 13th. This represents a $2.04 annualized dividend and a dividend yield of 2.87%. Coca-Cola’s dividend payout ratio is presently 81.60%.

Coca-Cola 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.