RBO & Co. LLC Decreases Position in The Coca-Cola Company (NYSE:KO)

RBO & Co. LLC reduced its stake in shares of The Coca-Cola Company (NYSE:KO) by 3.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 238,733 shares of the company’s stock after selling 9,397 shares during the quarter. Coca-Cola accounts for approximately 2.7% of RBO & Co. LLC’s holdings, making the stock its 17th largest holding. RBO & Co. LLC’s holdings in Coca-Cola were worth $17,155,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Coppell Advisory Solutions Corp. purchased a new position in Coca-Cola in the first quarter valued at about $452,000. Hancock Whitney Corp boosted its stake in shares of Coca-Cola by 14.5% during the 1st quarter. Hancock Whitney Corp now owns 57,022 shares of the company’s stock valued at $3,489,000 after buying an additional 7,226 shares during the last quarter. XML Financial LLC grew its position in shares of Coca-Cola by 7.1% during the first quarter. XML Financial LLC now owns 25,541 shares of the company’s stock worth $1,563,000 after buying an additional 1,704 shares in the last quarter. Montchanin Asset Management LLC bought a new stake in shares of Coca-Cola in the first quarter worth $791,000. Finally, Wahed Invest LLC raised its holdings in Coca-Cola by 15.3% in the first quarter. Wahed Invest LLC now owns 76,734 shares of the company’s stock valued at $4,695,000 after acquiring an additional 10,195 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

KO has been the subject of several research analyst reports. Barclays dropped their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Truist Financial upped their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Wells Fargo & Company lifted their target price on Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Cfra restated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Finally, Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $72.36.

Coca-Cola Stock Performance

KO opened at $64.58 on Wednesday. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The business’s 50 day moving average is $67.49 and its 200-day moving average is $66.59. The stock has a market cap of $278.20 billion, a PE ratio of 26.69, a price-to-earnings-growth ratio of 3.91 and a beta of 0.61. The Coca-Cola Company has a twelve month low of $57.47 and a twelve month high of $73.53.

Coca-Cola (NYSE:KO) last announced its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The firm had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter in the previous year, the business earned $0.74 EPS. The firm’s revenue for the quarter was down .8% on a year-over-year basis. On average, analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 3.00%. Coca-Cola’s payout ratio is 80.17%.

Insiders Place Their Bets

In related news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the transaction, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.97% of the stock is owned by insiders.

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.