Carlton Hofferkamp & Jenks Wealth Management LLC Lowers Position in The Coca-Cola Company (NYSE:KO)

Carlton Hofferkamp & Jenks Wealth Management LLC lessened its position in The Coca-Cola Company (NYSE:KO) by 1.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 49,977 shares of the company’s stock after selling 879 shares during the quarter. Coca-Cola makes up about 1.2% of Carlton Hofferkamp & Jenks Wealth Management LLC’s investment portfolio, making the stock its 19th largest holding. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in Coca-Cola were worth $3,591,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New Millennium Group LLC purchased a new position in Coca-Cola during the second quarter valued at $26,000. Quarry LP bought a new stake in Coca-Cola during the second quarter worth approximately $27,000. ESL Trust Services LLC bought a new stake in Coca-Cola during the first quarter worth approximately $28,000. Hara Capital LLC bought a new position in shares of Coca-Cola during the third quarter valued at approximately $35,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Coca-Cola in the third quarter worth approximately $36,000. Institutional investors own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on KO. Royal Bank of Canada raised their price objective on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft raised their price objective on Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. Morgan Stanley reduced their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Citigroup lifted their price objective on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, Cfra restated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $71.80.

Insider Activity

In other Coca-Cola news, EVP Lisa Chang sold 40,334 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $69.54, for a total value of $2,804,826.36. Following the transaction, the executive vice president now directly owns 74,067 shares in the company, valued at $5,150,619.18. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Lisa Chang sold 40,334 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $69.54, for a total transaction of $2,804,826.36. Following the completion of the sale, the executive vice president now directly owns 74,067 shares of the company’s stock, valued at $5,150,619.18. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the completion of the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $15,968,095. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 303,748 shares of company stock worth $20,677,431. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Trading Down 0.2 %

Shares of NYSE:KO opened at $63.21 on Wednesday. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The company has a 50 day moving average of $69.18 and a 200-day moving average of $66.53. The Coca-Cola Company has a twelve month low of $56.60 and a twelve month high of $73.53. The firm has a market cap of $272.30 billion, a P/E ratio of 26.12, a P/E/G ratio of 3.85 and a beta of 0.61.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The company had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. During the same quarter in the prior year, the business posted $0.74 EPS. Coca-Cola’s quarterly revenue was down .8% on a year-over-year basis. As a group, analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

About Coca-Cola

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.