RFP Financial Group LLC Lowers Holdings in CocaCola Company (The) (NYSE:KO)

RFP Financial Group LLC decreased its stake in shares of CocaCola Company (The) (NYSE:KO) by 5.5% in the first quarter, Holdings Channel reports. The institutional investor owned 69,148 shares of the company’s stock after selling 4,049 shares during the quarter. CocaCola accounts for about 2.0% of RFP Financial Group LLC’s holdings, making the stock its 11th biggest position. RFP Financial Group LLC’s holdings in CocaCola were worth $4,948,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Crowley Wealth Management Inc. purchased a new position in CocaCola during the fourth quarter valued at $27,000. Mainstream Capital Management LLC purchased a new position in shares of CocaCola in the fourth quarter worth $31,000. Mizuho Securities Co. Ltd. raised its stake in shares of CocaCola by 360.0% in the first 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. REAP Financial Group LLC raised its stake in shares of CocaCola by 57.5% in the fourth quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock worth $35,000 after purchasing an additional 208 shares during the last quarter. Finally, Murphy & Mullick Capital Management Corp purchased a new position in shares of CocaCola in the fourth quarter worth $38,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Transactions at CocaCola

In related news, EVP Beatriz R. Perez sold 60,326 shares of the stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $71.87, for a total value of $4,335,629.62. Following the transaction, the executive vice president now owns 187,716 shares of the company’s stock, valued at $13,491,148.92. This represents 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, CFO John Murphy sold 88,658 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total value of $6,391,355.22. Following the completion of the transaction, the chief financial officer now directly owns 205,511 shares in the company, valued at approximately $14,815,287.99. This trade represents a 30.14% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 415,387 shares of company stock worth $29,923,985. 0.97% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on KO shares. Cfra Research upgraded CocaCola to a “strong-buy” rating in a research note on Tuesday, April 15th. Morgan Stanley reaffirmed an “overweight” rating and issued a $81.00 price objective on shares of CocaCola in a report on Monday, June 9th. JPMorgan Chase & Co. lifted their price objective on CocaCola from $74.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, April 21st. UBS Group upped their price target on CocaCola from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, April 30th. Finally, Piper Sandler upped their price target on CocaCola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $76.00.

CocaCola Trading Down 0.5%

Shares of KO stock opened at $68.84 on Friday. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.10 and a quick ratio of 0.89. The stock’s 50 day simple moving average is $71.50 and its two-hundred day simple moving average is $68.03. The company has a market cap of $296.32 billion, a PE ratio of 27.54, a price-to-earnings-growth ratio of 3.63 and a beta of 0.46.

CocaCola (NYSE:KO) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. CocaCola had a return on equity of 45.49% and a net margin of 23.00%. The business had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.23 billion. During the same period in the prior year, the business posted $0.72 earnings per share. The company’s quarterly revenue was down .7% compared to the same quarter last year. Research analysts predict that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a $0.51 dividend. The ex-dividend date is Friday, June 13th. This represents a $2.04 annualized dividend and a dividend yield of 2.96%. CocaCola’s payout ratio is 81.60%.

CocaCola 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.