Richardson Financial Services Inc. Sells 293 Shares of The Coca-Cola Company (NYSE:KO)

Richardson Financial Services Inc. lessened its holdings in The Coca-Cola Company (NYSE:KO) by 7.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,404 shares of the company’s stock after selling 293 shares during the quarter. Richardson Financial Services Inc.’s holdings in Coca-Cola were worth $217,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. New Millennium Group LLC purchased a new stake in Coca-Cola during the 2nd quarter valued at about $26,000. Tidemark LLC bought a new position in shares of Coca-Cola in the fourth quarter worth approximately $26,000. ESL Trust Services LLC bought a new position in shares of Coca-Cola in the first quarter worth approximately $28,000. Redmont Wealth Advisors LLC purchased a new position in shares of Coca-Cola in the first quarter worth $28,000. Finally, Frazier Financial Advisors LLC bought a new stake in Coca-Cola during the 4th quarter valued at $31,000. 70.26% of the stock is owned by institutional investors.

Coca-Cola Price Performance

Shares of KO opened at $71.76 on Thursday. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $73.53. The firm’s 50-day simple moving average is $68.83 and its two-hundred day simple moving average is $64.18. The stock has a market cap of $309.14 billion, a PE ratio of 28.70, a price-to-earnings-growth ratio of 3.93 and a beta of 0.60. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The company had revenue of $12.40 billion during the quarter, compared to analyst estimates of $11.78 billion. During the same quarter last year, the company earned $0.78 EPS. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. Analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date is Friday, September 13th. Coca-Cola’s payout ratio is 77.60%.

Insider Activity at Coca-Cola

In other news, EVP Nancy Quan sold 18,482 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $68.95, for a total value of $1,274,333.90. Following the transaction, the executive vice president now owns 223,330 shares in the company, valued at $15,398,603.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Lisa Chang sold 58,122 shares of Coca-Cola stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $68.51, for a total value of $3,981,938.22. Following the completion of the sale, the executive vice president now directly owns 74,067 shares in the company, valued at approximately $5,074,330.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Nancy Quan sold 18,482 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $68.95, for a total transaction of $1,274,333.90. Following the transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $15,398,603.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 974,715 shares of company stock valued at $579,704,927. 0.97% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on KO. Argus boosted their price objective on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, May 22nd. Bank of America boosted their price target on Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Barclays lifted their price objective on Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Morgan Stanley upped their target price on Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, August 27th. Finally, StockNews.com cut shares of Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $71.07.

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.