Requisite Capital Management LLC Sells 231 Shares of The Coca-Cola Company (NYSE:KO)

Requisite Capital Management LLC decreased its stake in The Coca-Cola Company (NYSE:KO) by 2.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in KO. ZRC Wealth Management LLC raised its stake in shares of Coca-Cola by 213.3% during the fourth quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock valued at $26,000 after acquiring an additional 320 shares during the last quarter. Tidemark LLC bought a new position in shares of Coca-Cola during the fourth quarter valued at $26,000. Private Wealth Management Group LLC bought a new position in shares of Coca-Cola during the fourth quarter valued at $27,000. Criterion Capital Advisors LLC bought a new position in shares of Coca-Cola during the fourth quarter valued at $30,000. Finally, Frazier Financial Advisors LLC acquired a new stake in shares of Coca-Cola during the fourth quarter worth $31,000. Institutional investors own 70.26% of the company’s stock.

Insiders Place Their Bets

In other Coca-Cola news, insider Nikolaos Koumettis sold 80,891 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 218,880 shares of the company’s stock, valued at approximately $13,644,979.20. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, insider Nikolaos Koumettis sold 80,891 shares of the business’s stock in a transaction that occurred 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 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 is available at this hyperlink. Also, EVP Nancy Quan sold 19,304 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $63.44, for a total transaction of $1,224,645.76. Following the completion of the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $14,168,055.20. The disclosure for this sale can be found here. Insiders sold a total of 223,665 shares of company stock valued at $13,995,465 in the last quarter. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

Shares of KO traded down $0.14 during trading hours on Tuesday, hitting $63.14. The company’s stock had a trading volume of 8,877,389 shares, compared to its average volume of 13,067,504. The company has a market cap of $272.00 billion, a price-to-earnings ratio of 25.23, a PEG ratio of 3.60 and a beta of 0.59. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.04 and a quick ratio of 0.86. The business has a 50 day simple moving average of $62.77 and a two-hundred day simple moving average of $60.81. The Coca-Cola Company has a 52-week low of $51.55 and a 52-week high of $64.36.

Coca-Cola (NYSE:KO) last issued 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. The company had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $11.01 billion. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. Coca-Cola’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.68 earnings per share. On average, equities analysts expect that The Coca-Cola Company will post 2.82 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on KO. Argus increased their price objective on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Evercore ISI raised their price target on shares of Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Barclays raised their price target on shares of Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Morgan Stanley raised their price target on shares of Coca-Cola from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. Finally, JPMorgan Chase & Co. raised their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.83.

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.