Richardson Financial Services Inc. Buys New Stake in The Coca-Cola Company (NYSE:KO)

Richardson Financial Services Inc. acquired a new stake in The Coca-Cola Company (NYSE:KO) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,527 shares of the company’s stock, valued at approximately $208,000.

Several other hedge funds also recently made changes to their positions in the company. Enterprise Bank & Trust Co lifted its holdings in shares of Coca-Cola by 3.4% in the 4th quarter. Enterprise Bank & Trust Co now owns 5,021 shares of the company’s stock worth $296,000 after purchasing an additional 167 shares during the last quarter. Goelzer Investment Management Inc. boosted its holdings in shares of Coca-Cola by 1.8% during the fourth quarter. Goelzer Investment Management Inc. now owns 9,681 shares of the company’s stock valued at $571,000 after acquiring an additional 169 shares during the period. Elk River Wealth Management LLC grew its position in shares of Coca-Cola by 1.6% during the fourth quarter. Elk River Wealth Management LLC now owns 10,838 shares of the company’s stock worth $639,000 after acquiring an additional 170 shares during the last quarter. KRS Capital Management LLC increased its holdings in shares of Coca-Cola by 3.8% in the 4th quarter. KRS Capital Management LLC now owns 4,645 shares of the company’s stock worth $274,000 after acquiring an additional 170 shares during the period. Finally, Wayfinding Financial LLC lifted its position in Coca-Cola by 1.8% in the 4th quarter. Wayfinding Financial LLC now owns 9,734 shares of the company’s stock valued at $573,000 after purchasing an additional 175 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on KO shares. Barclays raised their price target on shares of Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Morgan Stanley lifted their target price on Coca-Cola from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, June 10th. Argus increased their price target on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. StockNews.com lowered Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday. Finally, UBS Group upped their price objective on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $68.55.

Insider Activity at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 19,304 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now owns 223,330 shares in the company, valued at approximately $14,168,055.20. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Coca-Cola news, EVP Nancy Quan sold 19,304 shares of Coca-Cola stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $63.44, for a total transaction of $1,224,645.76. Following the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $14,168,055.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Beatriz R. Perez sold 57,298 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $61.99, for a total value of $3,551,903.02. Following the completion of the sale, the executive vice president now owns 167,107 shares of the company’s stock, valued at approximately $10,358,962.93. The disclosure for this sale can be found here. Insiders sold 142,774 shares of company stock worth $8,952,720 in the last quarter. 0.97% of the stock is owned by company insiders.

Coca-Cola Price Performance

NYSE KO traded up $0.04 on Friday, reaching $62.55. The company’s stock had a trading volume of 8,179,239 shares, compared to its average volume of 10,182,775. The firm’s 50 day moving average is $61.85 and its two-hundred day moving average is $60.48. The stock has a market cap of $269.46 billion, a PE ratio of 25.02, a PEG ratio of 3.53 and a beta of 0.59. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 1.04. The Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $64.36.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, April 30th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.70 by $0.02. The business had revenue of $11.30 billion during the quarter, compared to analyst estimates of $11.01 billion. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.68 earnings per share. As a group, sell-side analysts predict that The Coca-Cola Company will post 2.82 EPS for the current year.

Coca-Cola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date is Friday, June 14th. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

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.