Bard Financial Services Inc. Sells 83,631 Shares of The Coca-Cola Company (NYSE:KO)

Bard Financial Services Inc. lessened its position in shares of The Coca-Cola Company (NYSE:KO) by 46.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 98,210 shares of the company’s stock after selling 83,631 shares during the quarter. Coca-Cola comprises about 1.5% of Bard Financial Services Inc.’s investment portfolio, making the stock its 14th largest position. Bard Financial Services Inc.’s holdings in Coca-Cola were worth $7,057,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. New Millennium Group LLC bought a new stake in shares of Coca-Cola during the 2nd quarter valued at about $26,000. Quarry LP bought a new position in Coca-Cola in the 2nd quarter valued at approximately $27,000. Redmont Wealth Advisors LLC purchased a new stake in Coca-Cola during the 1st quarter valued at $28,000. ESL Trust Services LLC purchased a new stake in Coca-Cola in the 1st quarter worth $28,000. Finally, DiNuzzo Private Wealth Inc. boosted its holdings in shares of Coca-Cola by 65.0% during the 1st quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock valued at $32,000 after purchasing an additional 206 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Citigroup lifted their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Bank of America boosted their price objective on shares of Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Barclays increased their target price on shares of Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, StockNews.com cut shares of Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $71.07.

Coca-Cola Price Performance

KO traded down $0.35 during midday trading on Friday, hitting $70.17. The stock had a trading volume of 12,687,289 shares, compared to its average volume of 13,277,112. The business has a fifty day moving average of $70.35 and a 200 day moving average of $65.09. The Coca-Cola Company has a 1 year low of $51.55 and a 1 year high of $73.53. The company has a market cap of $302.29 billion, a P/E ratio of 28.07, a price-to-earnings-growth ratio of 3.97 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 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. 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 for the quarter, compared to the consensus estimate of $11.78 billion. During the same quarter last year, the company earned $0.78 EPS. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. As a group, equities analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were given a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date was Friday, September 13th. Coca-Cola’s payout ratio is 77.60%.

Insider Buying and Selling at Coca-Cola

In other news, EVP Nancy Quan sold 19,304 shares of the stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $64.96, for a total value of $1,253,987.84. Following the sale, the executive vice president now directly owns 223,330 shares in the company, valued at $14,507,516.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO James Quincey sold 42,397 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $70.02, for a total transaction of $2,968,637.94. Following the transaction, the chief executive officer now directly owns 442,546 shares in the company, valued at $30,987,070.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 value of $1,253,987.84. Following the sale, the executive vice president now owns 223,330 shares in the company, valued at $14,507,516.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 376,096 shares of company stock valued at $25,982,352 over the last quarter. 0.97% of the stock is owned by company insiders.

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.