Requisite Capital Management LLC Sells 3,502 Shares of The Coca-Cola Company (NYSE:KO)

Requisite Capital Management LLC decreased its holdings in The Coca-Cola Company (NYSE:KO) by 40.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,143 shares of the company’s stock after selling 3,502 shares during the quarter. Requisite Capital Management LLC’s holdings in Coca-Cola were worth $371,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its stake in shares of Coca-Cola by 18.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company’s stock worth $4,617,400,000 after purchasing an additional 11,569,920 shares during the last quarter. Norges Bank bought a new stake in shares of Coca-Cola in the fourth quarter worth $3,402,151,000. Northern Trust Corp grew its stake in shares of Coca-Cola by 9.5% in the fourth quarter. Northern Trust Corp now owns 43,802,296 shares of the company’s stock worth $2,727,131,000 after purchasing an additional 3,811,756 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Coca-Cola by 21.9% in the fourth quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company’s stock worth $2,123,301,000 after purchasing an additional 6,118,819 shares during the last quarter. Finally, Capital International Investors grew its stake in shares of Coca-Cola by 96.0% in the fourth quarter. Capital International Investors now owns 24,949,194 shares of the company’s stock worth $1,553,337,000 after purchasing an additional 12,222,885 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling

In related news, CEO James Quincey sold 266,403 shares of the company’s stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $72.06, for a total value of $19,197,000.18. Following the sale, the chief executive officer now owns 275,946 shares in the company, valued at $19,884,668.76. This represents a 49.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO John Murphy sold 88,658 shares of the company’s stock in a transaction dated 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 directly owns 205,511 shares of the company’s stock, valued at $14,815,287.99. The trade was a 30.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 415,387 shares of company stock worth $29,923,985 in the last quarter. Insiders own 0.97% of the company’s stock.

Coca-Cola Trading Up 0.6%

KO opened at $71.76 on Tuesday. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. The Coca-Cola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The firm has a market capitalization of $308.89 billion, a PE ratio of 29.05, a P/E/G ratio of 3.79 and a beta of 0.46. The company’s 50-day moving average is $71.39 and its 200 day moving average is $67.68.

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

Coca-Cola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a $0.51 dividend. The ex-dividend date is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.84%. Coca-Cola’s dividend payout ratio is presently 81.60%.

Analyst Ratings Changes

A number of brokerages have commented on KO. Cfra Research raised shares of Coca-Cola to a “strong-buy” rating in a research report on Tuesday, April 15th. Morgan Stanley reaffirmed an “overweight” rating and set a $81.00 price target on shares of Coca-Cola in a research report on Monday. Evercore ISI upped their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Royal Bank of Canada upped 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. Finally, UBS Group upped their price target on shares of Coca-Cola from $84.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Coca-Cola currently has an average 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.