Harvest Portfolios Group Inc. Takes $18.38 Million Position in The Coca-Cola Company (NYSE:KO)

Harvest Portfolios Group Inc. bought a new position in The Coca-Cola Company (NYSE:KO) during the third quarter, according to the company in its most recent filing with the SEC. The firm bought 255,822 shares of the company’s stock, valued at approximately $18,383,000.

Several other institutional investors have also added to or reduced their stakes in KO. Apella Capital LLC raised its position in Coca-Cola by 1.4% during the 3rd quarter. Apella Capital LLC now owns 10,533 shares of the company’s stock valued at $748,000 after purchasing an additional 146 shares in the last quarter. Investment Advisory Group LLC raised its holdings in shares of Coca-Cola by 4.5% in the third quarter. Investment Advisory Group LLC now owns 3,378 shares of the company’s stock valued at $243,000 after acquiring an additional 146 shares in the last quarter. Elwood & Goetz Wealth Advisory Group LLC lifted its stake in Coca-Cola by 2.2% in the second quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 6,871 shares of the company’s stock worth $437,000 after acquiring an additional 149 shares during the period. CCG Wealth Management LLC lifted its stake in Coca-Cola by 4.3% in the third quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock worth $260,000 after acquiring an additional 149 shares during the period. Finally, Investment Partners Asset Management Inc. increased its position in Coca-Cola by 2.2% during the 3rd quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock valued at $500,000 after purchasing an additional 150 shares during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Coca-Cola

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 value of $1,321,606.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Nancy Quan sold 18,484 shares of Coca-Cola 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 in the company, valued at approximately $15,968,095. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Lisa Chang sold 40,334 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $69.54, for a total value of $2,804,826.36. Following the completion of the sale, the executive vice president now owns 74,067 shares in the company, valued at approximately $5,150,619.18. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 203,748 shares of company stock worth $14,274,431. Company insiders own 0.97% of the company’s stock.

Coca-Cola Trading Up 0.0 %

NYSE:KO opened at $65.40 on Wednesday. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The firm has a fifty day simple moving average of $70.06 and a 200-day simple moving average of $66.45. The Coca-Cola Company has a 12 month low of $56.06 and a 12 month high of $73.53. The company has a market capitalization of $281.73 billion, a P/E ratio of 27.02, a PEG ratio of 3.95 and a beta of 0.61.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The business had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter in the previous year, the business earned $0.74 EPS. The company’s quarterly revenue was down .8% compared to the same quarter last year. On average, equities research analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio is presently 80.17%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on KO shares. Morgan Stanley lowered their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Citigroup increased their target price on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Truist Financial boosted their price target on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. raised their price objective on Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Finally, TD Cowen boosted their target price on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $71.80.

Coca-Cola 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.