Harvest Portfolios Group Inc. Sells 52,568 Shares of CocaCola Company (The) $KO

Harvest Portfolios Group Inc. lowered its stake in CocaCola Company (The) (NYSE:KO) by 17.3% in the 2nd quarter, Holdings Channel reports. The firm owned 251,854 shares of the company’s stock after selling 52,568 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in CocaCola were worth $17,819,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of KO. 1248 Management LLC purchased a new stake in shares of CocaCola in the first quarter worth $26,000. Caitong International Asset Management Co. Ltd grew its position in 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 buying an additional 360 shares in the last quarter. Ridgewood Investments LLC increased its stake in CocaCola by 148.4% in the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock worth $34,000 after acquiring an additional 285 shares during the last quarter. GFG Capital LLC purchased a new stake in shares of CocaCola in the 2nd quarter valued at about $34,000. Finally, MMA Asset Management LLC bought a new stake in shares of CocaCola during the 2nd quarter valued at about $34,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other CocaCola news, EVP Monica Howard Douglas sold 13,548 shares of the stock in a transaction on Friday, October 24th. The shares were sold at an average price of $69.93, for a total transaction of $947,411.64. Following the completion of the sale, the executive vice president owned 37,725 shares of the company’s stock, valued at $2,638,109.25. This represents a 26.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Max R. Levchin acquired 7,206 shares of the firm’s stock in a transaction on Friday, October 24th. The stock was purchased at an average price of $69.87 per share, for a total transaction of $503,483.22. Following the transaction, the director directly owned 14,267 shares of the company’s stock, valued at approximately $996,835.29. This trade represents a 102.05% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

KO has been the topic of several research analyst reports. BNP Paribas restated an “outperform” rating and issued a $83.00 price objective on shares of CocaCola in a research report on Monday, July 21st. Bank of America boosted their price target on shares of CocaCola from $78.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday. Wells Fargo & Company raised their price objective on shares of CocaCola from $75.00 to $79.00 and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. JPMorgan Chase & Co. lifted their price objective on shares of CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. Finally, Barclays restated an “overweight” rating on shares of CocaCola in a research report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating and sixteen have assigned a Buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $78.43.

CocaCola Price Performance

Shares of NYSE:KO opened at $69.04 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.21 and a debt-to-equity ratio of 1.30. The stock has a market cap of $296.97 billion, a PE ratio of 22.86, a PEG ratio of 3.57 and a beta of 0.43. The company’s fifty day moving average is $67.72 and its 200 day moving average is $69.58. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38.

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

CocaCola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Monday, December 1st. CocaCola’s dividend payout ratio is currently 67.55%.

CocaCola Company 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.