RB Capital Management LLC Grows Holdings in The Coca-Cola Company (NYSE:KO)

RB Capital Management LLC increased its stake in The Coca-Cola Company (NYSE:KO) by 0.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 50,312 shares of the company’s stock after buying an additional 283 shares during the period. RB Capital Management LLC’s holdings in Coca-Cola were worth $2,965,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in KO. ZRC Wealth Management LLC increased its stake in Coca-Cola by 213.3% during the 4th quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock valued at $26,000 after purchasing an additional 320 shares in the last quarter. Criterion Capital Advisors LLC purchased a new stake in Coca-Cola during the 4th quarter valued at $30,000. Financial Connections Group Inc. bought a new stake in shares of Coca-Cola in the 4th quarter worth $38,000. Avion Wealth raised its stake in shares of Coca-Cola by 64.8% in the fourth quarter. Avion Wealth now owns 819 shares of the company’s stock worth $48,000 after purchasing an additional 322 shares during the last quarter. Finally, Clear Investment Research LLC increased its holdings in Coca-Cola by 36.1% in the 3rd quarter. Clear Investment Research LLC now owns 928 shares of the company’s stock worth $52,000 after buying an additional 246 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Price Performance

Shares of NYSE KO traded up $0.16 during midday trading on Wednesday, reaching $61.93. 16,717,748 shares of the stock traded hands, compared to its average volume of 14,021,762. The stock has a market capitalization of $266.99 billion, a PE ratio of 25.10, a P/E/G ratio of 3.54 and a beta of 0.59. The company’s 50 day moving average is $60.19 and its 200 day moving average is $59.02. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.13 and a quick ratio of 0.95. The Coca-Cola Company has a one year low of $51.55 and a one year high of $64.25.

Coca-Cola (NYSE:KO) last announced its 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 net margin of 23.42% and a return on equity of 42.50%. The firm had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $11.01 billion. During the same period in the prior year, the company earned $0.68 EPS. The business’s revenue was up 2.7% compared to the same quarter last year. On average, equities research analysts anticipate that The Coca-Cola Company will post 2.81 earnings per share for the current year.

Coca-Cola Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 3.13%. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.46. The ex-dividend date was Thursday, March 14th. Coca-Cola’s payout ratio is presently 78.23%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on KO. UBS Group raised their price target on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday. Citigroup upped their price objective on Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Evercore ISI boosted their target price on shares of Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday. JPMorgan Chase & Co. increased their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Barclays boosted their price objective on shares of Coca-Cola from $66.00 to $68.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus price target of $68.18.

Insider Activity

In other news, CEO James Quincey sold 247,188 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $26,968,753.24. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Bruno Pietracci sold 18,551 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $59.41, for a total value of $1,102,114.91. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO James Quincey sold 247,188 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total value of $15,063,636.72. Following the transaction, the chief executive officer now directly owns 442,546 shares in the company, valued at approximately $26,968,753.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 323,107 shares of company stock valued at $19,657,742. 0.97% of the stock is currently owned by company 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.