Rakuten Securities Inc. Sells 1,838 Shares of The Coca-Cola Company (NYSE:KO)

Rakuten Securities Inc. cut its stake in The Coca-Cola Company (NYSE:KO) by 40.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,678 shares of the company’s stock after selling 1,838 shares during the quarter. Rakuten Securities Inc.’s holdings in Coca-Cola were worth $192,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Crowley Wealth Management Inc. purchased a new position in Coca-Cola during the 4th quarter worth $27,000. Mainstream Capital Management LLC purchased a new position in Coca-Cola during the fourth quarter worth about $31,000. REAP Financial Group LLC boosted its holdings in Coca-Cola by 57.5% during the fourth quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock worth $35,000 after purchasing an additional 208 shares during the last quarter. Murphy & Mullick Capital Management Corp bought a new stake in Coca-Cola in the 4th quarter worth about $38,000. Finally, Hoey Investments Inc. increased its stake in Coca-Cola by 41.9% in the 4th quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock valued at $38,000 after buying an additional 181 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Insider Transactions at Coca-Cola

In related news, CFO John Murphy sold 88,658 shares of Coca-Cola stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the completion of the sale, the chief financial officer now owns 205,511 shares of the company’s stock, valued at approximately $14,815,287.99. This trade represents a 30.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Beatriz R. Perez sold 60,326 shares of the company’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $71.87, for a total value of $4,335,629.62. Following the completion of the transaction, the executive vice president now owns 187,716 shares in the company, valued at $13,491,148.92. This represents a 24.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 415,387 shares of company stock valued at $29,923,985. 0.97% of the stock is currently owned by corporate insiders.

Coca-Cola Stock Down 0.7%

Coca-Cola stock opened at $70.51 on Tuesday. The firm has a market capitalization of $303.50 billion, a price-to-earnings ratio of 28.55, a P/E/G ratio of 3.79 and a beta of 0.46. The firm has a 50 day simple moving average of $71.60 and a 200 day simple moving average of $67.94. The Coca-Cola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. The company had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.23 billion. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.72 EPS. On average, analysts predict that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.89%. The ex-dividend date is Friday, June 13th. Coca-Cola’s dividend payout ratio is presently 81.60%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on KO. Cfra Research upgraded Coca-Cola to a “strong-buy” rating in a research note on Tuesday, April 15th. JPMorgan Chase & Co. boosted their price objective on Coca-Cola from $74.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, April 21st. Barclays reaffirmed an “overweight” rating on shares of Coca-Cola in a research report on Thursday, March 27th. Piper Sandler boosted their price target on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Finally, Royal Bank of Canada increased their price target on shares of Coca-Cola from $73.00 to $76.00 and gave the company an “outperform” rating in a research report on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $76.00.

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.