Richardson Financial Services Inc. Has $217,000 Holdings in The Coca-Cola Company (NYSE:KO)

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

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its holdings in Coca-Cola by 21.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock worth $3,016,023,000 after buying an additional 8,733,326 shares in the last quarter. Vontobel Asset Management Inc. grew its stake in shares of Coca-Cola by 2.7% in the 4th quarter. Vontobel Asset Management Inc. now owns 14,337,691 shares of the company’s stock worth $890,866,000 after acquiring an additional 378,447 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Coca-Cola by 30.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,698,984 shares of the company’s stock valued at $776,924,000 after purchasing an additional 2,964,850 shares during the last quarter. Putnam Investments LLC lifted its position in shares of Coca-Cola by 32.8% during the fourth quarter. Putnam Investments LLC now owns 12,032,095 shares of the company’s stock valued at $709,051,000 after purchasing an additional 2,973,234 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in Coca-Cola by 15.7% during the first quarter. Canada Pension Plan Investment Board now owns 10,433,875 shares of the company’s stock worth $638,344,000 after purchasing an additional 1,417,930 shares during the last quarter. 70.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on KO. Morgan Stanley increased their price objective on shares of Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a research note on Tuesday, August 27th. JPMorgan Chase & Co. lifted their price target on Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Bank of America upped their price objective on Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Finally, Wells Fargo & Company boosted their price target on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $71.07.

Insider Activity 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 dated 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 directly owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Coca-Cola news, major shareholder Cola Co Coca sold 598,619 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $925.00, for a total value of $553,722,575.00. Following the completion of the transaction, the insider now owns 1,883,546 shares of the company’s stock, valued at approximately $1,742,280,050. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Nancy Quan sold 19,304 shares of the firm’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $64.96, for a total transaction of $1,253,987.84. Following the sale, the executive vice president now owns 223,330 shares in the company, valued at approximately $14,507,516.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 974,715 shares of company stock valued at $579,704,927. Company insiders own 0.97% of the company’s stock.

Coca-Cola Stock Down 0.1 %

KO opened at $71.76 on Thursday. The Coca-Cola Company has a 12 month low of $51.55 and a 12 month high of $73.53. The company 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 current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The company has a 50 day moving average of $68.83 and a 200 day moving average of $64.18.

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

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a $0.485 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.70%. 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.