Raleigh Capital Management Inc. Trims Holdings in CocaCola Company (The) (NYSE:KO)

Raleigh Capital Management Inc. lowered its stake in shares of CocaCola Company (The) (NYSE:KO) by 26.7% during the first quarter, according to its most recent Form 13F filing with the 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 quarter.

Other large investors also recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC purchased a new position in CocaCola in the first quarter worth approximately $25,000. Garde Capital Inc. acquired a new position in shares of CocaCola in the 1st quarter valued at $30,000. Crowley Wealth Management Inc. purchased a new position in shares of CocaCola during the 4th quarter worth $27,000. Mizuho Securities Co. Ltd. increased its position in shares of CocaCola by 360.0% during the 1st quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company’s stock worth $33,000 after purchasing an additional 360 shares during the last quarter. Finally, Moser Wealth Advisors LLC raised its holdings in CocaCola by 449.5% in the 1st quarter. Moser Wealth Advisors LLC now owns 500 shares of the company’s stock valued at $36,000 after buying an additional 409 shares during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

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 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 directly owned 187,716 shares in the company, valued at $13,491,148.92. The trade was a 24.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James Quincey sold 266,403 shares of the 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 completion of the transaction, the chief executive officer owned 275,946 shares of the company’s stock, valued at $19,884,668.76. This represents a 49.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 415,387 shares of company stock worth $29,923,985 in the last three months. 0.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on KO. Royal Bank Of Canada increased 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. Morgan Stanley restated an “overweight” rating and issued a $81.00 price target on shares of CocaCola in a research note on Monday, June 9th. Barclays reiterated 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 note on Tuesday, April 15th. Finally, UBS Group upped their price target on CocaCola from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, CocaCola currently has an average rating of “Buy” and a consensus price target of $76.27.

CocaCola Stock Performance

Shares of KO stock opened at $71.19 on Monday. The company has a market cap of $306.42 billion, a P/E ratio of 28.48, a PEG ratio of 3.74 and a beta of 0.45. The business has a 50 day moving average of $71.08 and a two-hundred day moving average of $68.64. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The company has a quick ratio of 0.89, a current ratio of 1.10 and a debt-to-equity ratio of 1.57.

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

CocaCola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date was Friday, June 13th. CocaCola’s dividend payout ratio (DPR) is 81.60%.

CocaCola 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.