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

Harvest Portfolios Group Inc. trimmed its stake in CocaCola Company (The) (NYSE:KO) by 17.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 251,854 shares of the company’s stock after selling 52,568 shares during the period. Harvest Portfolios Group Inc.’s holdings in CocaCola were worth $17,819,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KO. Vanguard Group Inc. lifted its stake in shares of CocaCola by 0.3% in the first quarter. Vanguard Group Inc. now owns 361,200,808 shares of the company’s stock worth $25,869,202,000 after acquiring an additional 1,114,422 shares during the period. Wellington Management Group LLP increased its position in CocaCola by 52.7% during the 1st quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company’s stock valued at $3,398,185,000 after purchasing an additional 16,383,870 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in CocaCola by 6.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 30,889,415 shares of the company’s stock worth $2,212,300,000 after purchasing an additional 1,794,561 shares during the last quarter. Amundi raised its holdings in CocaCola by 16.0% during 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 during the last quarter. Finally, Nuveen LLC acquired a new position in shares of CocaCola in the 1st quarter worth approximately $1,508,657,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Monica Howard Douglas sold 13,548 shares of the business’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $69.93, for a total transaction of $947,411.64. Following the transaction, the executive vice president directly owned 37,725 shares in the company, valued at approximately $2,638,109.25. The trade was a 26.42% 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. Also, Director Max R. Levchin bought 7,206 shares of CocaCola stock in a transaction dated Friday, October 24th. The stock was acquired at an average cost of $69.87 per share, with a total value of $503,483.22. Following the completion of the acquisition, the director owned 14,267 shares of the company’s stock, valued at $996,835.29. This represents a 102.05% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 0.90% of the company’s stock.

CocaCola Trading Up 0.8%

NYSE KO opened at $69.04 on Friday. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The business has a 50 day moving average price of $67.72 and a 200-day moving average price of $69.58. 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 company has a market cap of $296.97 billion, a price-to-earnings ratio of 22.86, a P/E/G ratio of 3.57 and a beta of 0.43.

CocaCola (NYSE:KO) last posted its quarterly earnings results on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) 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%. As a group, equities analysts expect that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders 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 of this dividend is Monday, December 1st. CocaCola’s payout ratio is currently 67.55%.

Analyst Upgrades and Downgrades

KO has been the subject of a number of analyst reports. BNP Paribas reissued an “outperform” rating and set a $83.00 target price on shares of CocaCola in a research note on Monday, July 21st. UBS Group dropped their price objective on CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, September 11th. Royal Bank Of Canada set a $76.00 target price on CocaCola and gave the company an “outperform” rating in a research report on Monday, July 21st. Piper Sandler raised their target price on CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of CocaCola in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating and sixteen have assigned a Buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $78.43.

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.