Requisite Capital Management LLC Reduces Holdings in The Coca-Cola Company (NYSE:KO)

Requisite Capital Management LLC decreased its holdings in shares of The Coca-Cola Company (NYSE:KO) by 2.8% during the first quarter, Holdings Channel.com reports. The fund owned 8,145 shares of the company’s stock after selling 231 shares during the period. Requisite Capital Management LLC’s holdings in Coca-Cola were worth $502,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Patrick M Sweeney & Associates Inc. purchased a new stake in Coca-Cola in the fourth quarter valued at approximately $410,000. Beacon Pointe Advisors LLC boosted its position in Coca-Cola by 24.7% in the fourth quarter. Beacon Pointe Advisors LLC now owns 450,523 shares of the company’s stock valued at $26,549,000 after buying an additional 89,139 shares during the last quarter. Birchcreek Wealth Management LLC lifted its holdings in Coca-Cola by 12.6% in the fourth quarter. Birchcreek Wealth Management LLC now owns 4,539 shares of the company’s stock valued at $267,000 after acquiring an additional 507 shares during the period. Smart Money Group LLC lifted its holdings in Coca-Cola by 21.6% in the fourth quarter. Smart Money Group LLC now owns 4,932 shares of the company’s stock valued at $291,000 after acquiring an additional 877 shares during the period. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO lifted its holdings in Coca-Cola by 3.2% in the fourth quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 46,470 shares of the company’s stock valued at $2,738,000 after acquiring an additional 1,455 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

KO has been the subject of a number of analyst reports. Morgan Stanley boosted their price target on Coca-Cola from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, June 10th. Argus boosted their price target on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, May 22nd. StockNews.com downgraded Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, June 14th. Barclays boosted their price target on Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Finally, Evercore ISI boosted their price target on Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $68.83.

Coca-Cola Price Performance

Shares of KO stock traded down $0.14 during trading hours on Tuesday, hitting $63.14. 8,877,389 shares of the company’s stock were exchanged, compared to its average volume of 13,067,504. The firm has a 50 day moving average of $62.77 and a two-hundred day moving average of $60.81. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $64.36. The company has a quick ratio of 0.86, a current ratio of 1.04 and a debt-to-equity ratio of 1.26. The firm has a market cap of $272.00 billion, a P/E ratio of 25.23, a P/E/G ratio of 3.60 and a beta of 0.59.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.70 by $0.02. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. The firm had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $11.01 billion. During the same period in the prior year, the company earned $0.68 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. Sell-side analysts forecast that The Coca-Cola Company will post 2.82 EPS for the current year.

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were paid a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 3.07%. The ex-dividend date was Friday, June 14th. Coca-Cola’s dividend payout ratio is currently 77.60%.

Insider Activity at Coca-Cola

In other Coca-Cola news, insider Nikolaos Koumettis sold 80,891 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $62.34, for a total value of $5,042,744.94. Following the completion of the sale, the insider now directly owns 218,880 shares in the company, valued at approximately $13,644,979.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Coca-Cola news, EVP Beatriz R. Perez sold 57,298 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $61.99, for a total value of $3,551,903.02. Following the completion of the sale, the executive vice president now directly owns 167,107 shares in the company, valued at approximately $10,358,962.93. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Nikolaos Koumettis sold 80,891 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $62.34, for a total value of $5,042,744.94. Following the completion of the sale, the insider now owns 218,880 shares of the company’s stock, valued at $13,644,979.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 223,665 shares of company stock valued at $13,995,465. 0.97% of the stock is owned by insiders.

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.