L. Roy Papp & Associates LLP Decreases Position in The Coca-Cola Company (NYSE:KO)

L. Roy Papp & Associates LLP trimmed its holdings in shares of The Coca-Cola Company (NYSE:KO) by 4.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,788 shares of the company’s stock after selling 1,235 shares during the quarter. L. Roy Papp & Associates LLP’s holdings in Coca-Cola were worth $2,069,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. New Millennium Group LLC purchased a new position in Coca-Cola in the 2nd quarter worth $26,000. Quarry LP purchased a new position in shares of Coca-Cola in the second quarter worth about $27,000. Redmont Wealth Advisors LLC purchased a new stake in Coca-Cola in the first quarter valued at approximately $28,000. ESL Trust Services LLC acquired a new position in Coca-Cola in the 1st quarter worth approximately $28,000. Finally, DiNuzzo Private Wealth Inc. raised its position in Coca-Cola by 65.0% during the 1st quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock worth $32,000 after buying an additional 206 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on KO. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Bank of America increased their price target on Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. JPMorgan Chase & Co. boosted their price objective on Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Cfra reiterated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Finally, TD Cowen boosted their price target on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $71.80.

Insider Activity

In other news, insider Bruno Pietracci sold 38,653 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $69.01, for a total transaction of $2,667,443.53. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Coca-Cola news, insider Bruno Pietracci sold 38,653 shares of Coca-Cola stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $69.01, for a total transaction of $2,667,443.53. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 value of $1,321,606.00. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at $15,968,095. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 319,005 shares of company stock worth $22,198,147 over the last three months. Insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

Shares of KO traded down $0.38 during mid-day trading on Friday, hitting $66.92. 11,138,127 shares of the company were exchanged, compared to its average volume of 13,253,075. The stock has a market cap of $288.29 billion, a price-to-earnings ratio of 26.77, a price-to-earnings-growth ratio of 3.91 and a beta of 0.60. The Coca-Cola Company has a 1-year low of $55.10 and a 1-year high of $73.53. The company has a 50 day moving average of $70.66 and a 200-day moving average of $66.06. 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 announced its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. The business had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The business’s revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.74 earnings per share. Analysts expect that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s payout ratio is 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.