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

L. Roy Papp & Associates LLP trimmed its position in shares of The Coca-Cola Company (NYSE:KO) by 4.1% in the third quarter, HoldingsChannel.com reports. The fund owned 28,788 shares of the company’s stock after selling 1,235 shares during the period. L. Roy Papp & Associates LLP’s holdings in Coca-Cola were worth $2,069,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several research analysts recently commented on the company. JPMorgan Chase & Co. boosted 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. Cfra restated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Barclays decreased their price target on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Friday. Truist Financial increased their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, StockNews.com cut shares of Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus price target of $71.80.

Insider Activity

In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total transaction 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 approximately $15,968,095. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Nancy Quan sold 18,484 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Lisa Chang sold 58,122 shares of Coca-Cola stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $68.51, for a total value of $3,981,938.22. Following the completion of the sale, the executive vice president now owns 74,067 shares in the company, valued at approximately $5,074,330.17. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 319,005 shares of company stock valued at $22,198,147. Company insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

Shares of Coca-Cola stock traded down $0.38 during trading on Friday, reaching $66.92. The company’s stock had a trading volume of 11,138,127 shares, compared to its average volume of 13,253,075. The firm has a market cap of $288.29 billion, a PE ratio of 26.77, a P/E/G ratio of 3.91 and a beta of 0.60. The company has a 50-day moving average price of $70.66 and a two-hundred day moving average price of $66.06. 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 Coca-Cola Company has a fifty-two week low of $55.10 and a fifty-two week high of $73.53.

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. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The business had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. During the same period in the prior year, the company earned $0.74 earnings per share. The business’s revenue was down .8% compared to the same quarter last year. On average, analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a $0.485 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.94 annualized dividend and a dividend yield of 2.90%. Coca-Cola’s dividend payout ratio (DPR) is currently 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.