RMB Capital Management LLC Cuts Position in The Coca-Cola Co (NYSE:KO)

RMB Capital Management LLC trimmed its position in The Coca-Cola Co (NYSE:KO) by 11.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,810 shares of the company’s stock after selling 2,362 shares during the quarter. RMB Capital Management LLC’s holdings in The Coca-Cola were worth $958,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in KO. Krane Funds Advisors LLC acquired a new stake in The Coca-Cola during the 2nd quarter valued at approximately $25,000. LFA Lugano Financial Advisors SA grew its position in shares of The Coca-Cola by 348.8% in the 2nd quarter. LFA Lugano Financial Advisors SA now owns 552 shares of the company’s stock worth $28,000 after acquiring an additional 429 shares in the last quarter. Prime Capital Investment Advisors LLC acquired a new position in shares of The Coca-Cola in the 1st quarter worth approximately $28,000. Redhawk Wealth Advisors Inc. bought a new stake in shares of The Coca-Cola in the 2nd quarter worth approximately $36,000. Finally, Financial Gravity Wealth Inc. bought a new stake in shares of The Coca-Cola in the 1st quarter worth approximately $35,000. Institutional investors own 67.48% of the company’s stock.

In other news, insider Nikolaos Koumettis sold 146,000 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $54.31, for a total value of $7,929,260.00. Following the sale, the insider now owns 244,451 shares of the company’s stock, valued at approximately $13,276,133.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Francisco Crespo sold 130,637 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $55.15, for a total value of $7,204,630.55. Following the completion of the sale, the senior vice president now directly owns 139,975 shares in the company, valued at approximately $7,719,621.25. The disclosure for this sale can be found here. Insiders sold a total of 429,638 shares of company stock worth $23,411,372 in the last three months. Company insiders own 1.33% of the company’s stock.

Shares of KO traded up $0.34 during midday trading on Tuesday, reaching $54.30. The stock had a trading volume of 298,777 shares, compared to its average volume of 10,269,540. The Coca-Cola Co has a 52 week low of $44.25 and a 52 week high of $55.92. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.83 and a quick ratio of 0.71. The firm’s 50 day moving average price is $54.04 and its 200-day moving average price is $50.18. The company has a market capitalization of $232.02 billion, a P/E ratio of 26.11, a P/E/G ratio of 3.77 and a beta of 0.44.

The Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.01. The Coca-Cola had a return on equity of 45.67% and a net margin of 21.11%. The company had revenue of $10 billion for the quarter, compared to the consensus estimate of $9.86 billion. During the same quarter in the previous year, the business earned $0.61 EPS. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, equities analysts forecast that The Coca-Cola Co will post 2.1 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date is Friday, September 13th. The Coca-Cola’s dividend payout ratio is presently 76.92%.

Several brokerages recently issued reports on KO. Atlantic Securities began coverage on The Coca-Cola in a report on Monday, July 29th. They issued an “overweight” rating and a $62.00 price target on the stock. Bank of America reissued a “buy” rating and issued a $60.00 price target (up previously from $55.00) on shares of The Coca-Cola in a report on Wednesday, July 24th. Royal Bank of Canada reissued a “buy” rating and issued a $60.00 price target on shares of The Coca-Cola in a report on Wednesday, July 24th. SunTrust Banks lifted their target price on The Coca-Cola to $60.00 and gave the company a “positive” rating in a research note on Wednesday, July 24th. Finally, Zacks Investment Research raised The Coca-Cola from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research note on Tuesday, June 4th. Ten investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The Coca-Cola currently has a consensus rating of “Buy” and a consensus price target of $54.26.

About The Coca-Cola

The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plant–based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

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Institutional Ownership by Quarter for The Coca-Cola (NYSE:KO)

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