Carlton Hofferkamp & Jenks Wealth Management LLC Cuts Position in CocaCola Company (The) $KO

Carlton Hofferkamp & Jenks Wealth Management LLC reduced its stake in shares of CocaCola Company (The) (NYSE:KO) by 2.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 47,917 shares of the company’s stock after selling 1,218 shares during the period. CocaCola makes up approximately 1.2% of Carlton Hofferkamp & Jenks Wealth Management LLC’s portfolio, making the stock its 24th largest position. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in CocaCola were worth $3,294,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. MorganRosel Wealth Management LLC acquired a new stake in CocaCola in the first quarter valued at $25,000. 1248 Management LLC purchased a new position in shares of CocaCola during the 1st quarter worth $26,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of CocaCola by 5,142.9% during the second 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 last quarter. Ridgewood Investments LLC increased its stake in CocaCola by 148.4% in the first quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock valued at $34,000 after purchasing an additional 285 shares during the last quarter. Finally, GFG Capital LLC purchased a new position in CocaCola during the second quarter worth about $34,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at CocaCola

In related news, insider Nikolaos Koumettis sold 37,396 shares of the company’s stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total transaction of $2,584,063.60. Following the completion of the transaction, the insider directly owned 209,513 shares in the company, valued at $14,477,348.30. This represents a 15.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.97% of the stock is owned by corporate insiders.

CocaCola Price Performance

Shares of NYSE KO opened at $69.74 on Friday. The business has a 50 day moving average price of $67.81 and a two-hundred day moving average price of $69.73. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The firm has a market cap of $300.13 billion, a PE ratio of 23.09, a price-to-earnings-growth ratio of 3.66 and a beta of 0.43. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.30.

CocaCola (NYSE:KO) last released its quarterly earnings results on Thursday, March 27th. The company reported $0.55 earnings per share for the quarter. The business 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%. Sell-side analysts expect that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on KO shares. TD Cowen upped their price objective on shares of CocaCola from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday. Barclays reissued an “overweight” rating on shares of CocaCola in a research note on Thursday. Royal Bank Of Canada set a $76.00 target price on CocaCola and gave the company an “outperform” rating in a report on Monday, July 21st. Evercore ISI reissued an “outperform” rating on shares of CocaCola in a research report on Tuesday. Finally, Cowen restated a “buy” rating on shares of CocaCola in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $78.31.

CocaCola 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.