Haverford Financial Services Inc. Sells 9,994 Shares of CocaCola Company (The) $KO

Haverford Financial Services Inc. decreased its position in CocaCola Company (The) (NYSE:KO) by 10.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 90,276 shares of the company’s stock after selling 9,994 shares during the period. CocaCola accounts for 1.9% of Haverford Financial Services Inc.’s investment portfolio, making the stock its 24th biggest holding. Haverford Financial Services Inc.’s holdings in CocaCola were worth $6,387,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of KO. 1248 Management LLC purchased a new position in CocaCola in the first quarter worth $26,000. Caitong International Asset Management Co. Ltd raised its stake in shares of CocaCola by 5,142.9% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock worth $26,000 after purchasing an additional 360 shares during the period. Ridgewood Investments LLC boosted its holdings in shares of CocaCola by 148.4% in the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock worth $34,000 after buying an additional 285 shares during the last quarter. GFG Capital LLC bought a new position in CocaCola during the second quarter valued at about $34,000. Finally, MMA Asset Management LLC bought a new position in CocaCola during the second quarter valued at about $34,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

CocaCola Stock Up 0.8%

KO stock opened at $71.26 on Wednesday. The stock has a 50-day simple moving average of $68.14 and a two-hundred day simple moving average of $69.46. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The firm has a market capitalization of $306.52 billion, a PE ratio of 23.60, a PEG ratio of 3.57 and a beta of 0.43. The company has a quick ratio of 1.00, a current ratio of 1.21 and a debt-to-equity ratio of 1.30.

CocaCola (NYSE:KO) last released its quarterly earnings data on Thursday, March 27th. The company reported $0.55 EPS for the quarter. The company had revenue of $11.40 billion during the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. On average, equities analysts predict that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Monday, December 1st. CocaCola’s payout ratio is 67.55%.

Insider Activity

In other CocaCola news, EVP Monica Howard Douglas sold 13,548 shares of the firm’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $69.93, for a total value of $947,411.64. Following the sale, the executive vice president owned 37,725 shares of the company’s stock, valued at $2,638,109.25. This trade represents a 26.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Manuel Arroyo sold 139,689 shares of the business’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $70.80, for a total value of $9,889,981.20. Following the transaction, the executive vice president directly owned 58,067 shares of the company’s stock, valued at $4,111,143.60. The trade was a 70.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 193,627 shares of company stock worth $13,702,256. Company insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

KO has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their target price on shares of CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. Wells Fargo & Company lifted their price target on shares of CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Bank of America upped their price objective on CocaCola from $78.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Barclays reissued an “overweight” rating on shares of CocaCola in a research report on Thursday, October 23rd. Finally, Cowen restated a “buy” rating on shares of CocaCola in a research note on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating and sixteen have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, CocaCola currently has an average rating of “Buy” and a consensus target price of $78.43.

About CocaCola

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.