Haverford Financial Services Inc. Reduces Stake in The Coca-Cola Company (NYSE:KO)

Haverford Financial Services Inc. lowered its position in The Coca-Cola Company (NYSE:KO) by 0.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 106,854 shares of the company’s stock after selling 799 shares during the period. Coca-Cola makes up approximately 2.0% of Haverford Financial Services Inc.’s investment portfolio, making the stock its 25th largest holding. Haverford Financial Services Inc.’s holdings in Coca-Cola were worth $6,801,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of KO. Gilbert & Cook Inc. lifted its holdings in Coca-Cola by 5.6% in the fourth quarter. Gilbert & Cook Inc. now owns 15,971 shares of the company’s stock valued at $941,000 after acquiring an additional 841 shares during the period. Accretive Wealth Partners LLC lifted its holdings in Coca-Cola by 1.4% in the fourth quarter. Accretive Wealth Partners LLC now owns 25,843 shares of the company’s stock valued at $1,523,000 after acquiring an additional 351 shares during the period. Aveo Capital Partners LLC lifted its holdings in Coca-Cola by 13.9% in the fourth quarter. Aveo Capital Partners LLC now owns 9,709 shares of the company’s stock valued at $572,000 after acquiring an additional 1,182 shares during the period. Gryphon Financial Partners LLC lifted its holdings in Coca-Cola by 72.0% in the fourth quarter. Gryphon Financial Partners LLC now owns 17,973 shares of the company’s stock valued at $1,034,000 after acquiring an additional 7,521 shares during the period. Finally, Hillsdale Investment Management Inc. lifted its holdings in Coca-Cola by 10.5% in the fourth quarter. Hillsdale Investment Management Inc. now owns 8,604 shares of the company’s stock valued at $507,000 after acquiring an additional 820 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. StockNews.com downgraded Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. JPMorgan Chase & Co. upped their target price on Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Wells Fargo & Company upped their target price on Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday. Argus upped their target price on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. Finally, Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $71.07.

Coca-Cola Stock Down 0.1 %

Shares of NYSE:KO opened at $71.76 on Thursday. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The business has a fifty day moving average of $68.83 and a two-hundred day moving average of $64.18. The stock has a market cap of $309.14 billion, a P/E ratio of 28.70, a PEG ratio of 3.93 and a beta of 0.60. The Coca-Cola Company has a 52-week low of $51.55 and a 52-week high of $73.53.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.03. The company had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.78 EPS. On average, research analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

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

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, major shareholder Cola Co Coca sold 598,619 shares of the company’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $925.00, for a total value of $553,722,575.00. Following the completion of the sale, the insider now directly owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Nancy Quan sold 19,304 shares of the stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $64.96, for a total transaction of $1,253,987.84. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $14,507,516.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Cola Co Coca sold 598,619 shares of the stock in a transaction on Friday, July 5th. The stock was sold at an average price of $925.00, for a total value of $553,722,575.00. Following the transaction, the insider now owns 1,883,546 shares of the company’s stock, valued at $1,742,280,050. The disclosure for this sale can be found here. Insiders sold a total of 974,715 shares of company stock worth $579,704,927 in the last three months. 0.97% of the stock is owned by corporate insiders.

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.