Bard Financial Services Inc. Trims Stake in The Coca-Cola Company (NYSE:KO)

Bard Financial Services Inc. reduced its position in shares of The Coca-Cola Company (NYSE:KO) by 1.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 175,001 shares of the company’s stock after selling 3,450 shares during the quarter. Coca-Cola comprises about 0.8% of Bard Financial Services Inc.’s portfolio, making the stock its 27th biggest position. Bard Financial Services Inc.’s holdings in Coca-Cola were worth $10,539,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Fairfield Bush & CO. acquired a new stake in shares of Coca-Cola in the 1st quarter worth $77,000. Merit Financial Group LLC boosted its position in shares of Coca-Cola by 16.7% in the 1st quarter. Merit Financial Group LLC now owns 12,227 shares of the company’s stock worth $758,000 after purchasing an additional 1,754 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of Coca-Cola by 41.4% in the 1st quarter. NewEdge Advisors LLC now owns 149,275 shares of the company’s stock worth $9,255,000 after purchasing an additional 43,680 shares in the last quarter. Ergoteles LLC lifted its position in Coca-Cola by 385.3% during the 1st quarter. Ergoteles LLC now owns 19,032 shares of the company’s stock worth $1,180,000 after acquiring an additional 15,110 shares during the period. Finally, Mackenzie Financial Corp grew its stake in Coca-Cola by 11.9% during the 1st quarter. Mackenzie Financial Corp now owns 2,840,557 shares of the company’s stock valued at $176,115,000 after purchasing an additional 301,804 shares during the last quarter. 68.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Coca-Cola news, SVP Monica Howard Douglas sold 21,074 shares of the stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $60.90, for a total transaction of $1,283,406.60. Following the completion of the transaction, the senior vice president now owns 18,360 shares of the company’s stock, valued at $1,118,124. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Coca-Cola news, SVP Beatriz R. Perez sold 50,000 shares of the stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $62.66, for a total transaction of $3,133,000.00. Following the completion of the transaction, the senior vice president now owns 143,383 shares of the company’s stock, valued at $8,984,378.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Monica Howard Douglas sold 21,074 shares of the stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $60.90, for a total value of $1,283,406.60. Following the transaction, the senior vice president now directly owns 18,360 shares of the company’s stock, valued at approximately $1,118,124. The disclosure for this sale can be found here. In the last 90 days, insiders sold 227,364 shares of company stock valued at $14,122,016. 1.00% of the stock is owned by company insiders.

Coca-Cola Stock Performance

NYSE KO opened at $57.94 on Friday. The stock has a market capitalization of $250.55 billion, a price-to-earnings ratio of 23.84, a PEG ratio of 3.43 and a beta of 0.55. The Coca-Cola Company has a twelve month low of $54.01 and a twelve month high of $64.99. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 1.29. The stock has a 50-day moving average of $60.49 and a 200 day moving average of $61.24.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Wednesday, July 26th. The company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.06. The company had revenue of $12 billion during the quarter, compared to analysts’ expectations of $11.74 billion. Coca-Cola had a return on equity of 43.06% and a net margin of 23.81%. Coca-Cola’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.70 EPS. Sell-side analysts anticipate that The Coca-Cola Company will post 2.63 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be issued a $0.46 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.84 dividend on an annualized basis and a yield of 3.18%. Coca-Cola’s payout ratio is 75.72%.

Wall Street Analyst Weigh In

Several analysts have weighed in on KO shares. JPMorgan Chase & Co. boosted their price target on Coca-Cola from $67.00 to $71.00 and gave the company an “overweight” rating in a research note on Thursday, July 27th. Barclays boosted their price target on Coca-Cola from $69.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, July 28th. StockNews.com started coverage on Coca-Cola in a research note on Thursday, August 17th. They set a “buy” rating on the stock. Royal Bank of Canada boosted their price target on Coca-Cola from $69.00 to $70.00 in a research note on Thursday, July 27th. Finally, Wedbush boosted their price target on Coca-Cola from $70.00 to $71.00 and gave the company an “outperform” rating in a research note on Thursday, July 27th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.33.

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.