Carlton Hofferkamp & Jenks Wealth Management LLC Sells 1,218 Shares of CocaCola Company (The) $KO

Carlton Hofferkamp & Jenks Wealth Management LLC reduced its stake in CocaCola Company (The) (NYSE:KO) by 2.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,917 shares of the company’s stock after selling 1,218 shares during the quarter. CocaCola comprises approximately 1.2% of Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings, making the stock its 24th largest position. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in CocaCola were worth $3,294,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nuveen LLC purchased a new stake in shares of CocaCola in the first quarter worth $1,508,657,000. Wellington Management Group LLP lifted its position in shares of CocaCola by 52.7% in the first quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company’s stock valued at $3,398,185,000 after acquiring an additional 16,383,870 shares in the last quarter. Boston Partners bought a new position in shares of CocaCola in the first quarter worth about $642,183,000. Raymond James Financial Inc. grew its position in shares of CocaCola by 47.4% during the first quarter. Raymond James Financial Inc. now owns 11,844,673 shares of the company’s stock worth $848,315,000 after purchasing an additional 3,810,752 shares in the last quarter. Finally, Amundi lifted its holdings in CocaCola by 16.0% in the 1st quarter. Amundi now owns 21,236,315 shares of the company’s stock worth $1,554,074,000 after purchasing an additional 2,922,619 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

Insider Activity 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 shares were sold at an average price of $69.10, for a total value of $2,584,063.60. Following the completion of the sale, the insider owned 209,513 shares in the company, valued at $14,477,348.30. This represents a 15.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.97% of the stock is owned by insiders.

CocaCola Trading Down 0.3%

Shares of CocaCola stock opened at $69.74 on Friday. The company has a fifty day simple moving average of $67.81 and a 200-day simple moving average of $69.73. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.30. The stock has a market cap of $300.13 billion, a price-to-earnings ratio of 23.09, a PEG ratio of 3.66 and a beta of 0.43.

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

CocaCola Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Monday, December 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.9%. CocaCola’s dividend payout ratio (DPR) is 67.55%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on KO shares. JPMorgan Chase & Co. raised their price target on CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. TD Cowen lifted their price objective on shares of CocaCola from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday. Weiss Ratings restated a “buy (b-)” rating on shares of CocaCola in a research report on Wednesday, October 8th. Wells Fargo & Company lifted their price objective on shares of CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the stock an “outperform” rating in a research report on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $78.31.

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.