Curi RMB Capital LLC Trims Stock Holdings in The Coca-Cola Company (NYSE:KO)

Curi RMB Capital LLC lessened its stake in shares of The Coca-Cola Company (NYSE:KO) by 36.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 95,111 shares of the company’s stock after selling 53,815 shares during the quarter. Curi RMB Capital LLC’s holdings in Coca-Cola were worth $6,835,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in KO. Price T Rowe Associates Inc. MD increased its stake in Coca-Cola by 21.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock worth $3,016,023,000 after purchasing an additional 8,733,326 shares during the period. Manning & Napier Advisors LLC purchased a new stake in Coca-Cola during the 2nd quarter worth approximately $188,448,000. M&G Plc purchased a new position in Coca-Cola in the 1st quarter valued at approximately $157,087,000. Pathway Financial Advisers LLC grew its stake in shares of Coca-Cola by 7,006.8% in the third quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company’s stock worth $178,104,000 after acquiring an additional 2,443,612 shares in the last quarter. Finally, Raymond James & Associates increased its position in shares of Coca-Cola by 42.6% during the second quarter. Raymond James & Associates now owns 6,245,331 shares of the company’s stock worth $397,515,000 after acquiring an additional 1,866,348 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on KO shares. Morgan Stanley lowered their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Royal Bank of Canada boosted their price objective on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Wells Fargo & Company raised their target price on shares of Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Barclays lowered their price target on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Finally, Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and an average target price of $72.36.

Coca-Cola Stock Down 0.7 %

KO opened at $62.55 on Friday. The Coca-Cola Company has a one year low of $56.70 and a one year high of $73.53. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The stock has a market capitalization of $269.43 billion, a P/E ratio of 25.85, a price-to-earnings-growth ratio of 3.83 and a beta of 0.61. The business’s 50-day simple moving average is $68.99 and its 200-day simple moving average is $66.51.

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

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a $0.485 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 3.10%. Coca-Cola’s dividend payout ratio (DPR) is 80.17%.

Insider Buying and Selling

In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the sale, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at $30,987,070.92. This represents a 18.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nancy Quan sold 18,484 shares of Coca-Cola stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at $15,968,095. This trade represents a 7.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 303,748 shares of company stock worth $20,677,431 in the last 90 days. Company insiders own 0.97% of the company’s stock.

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.