Harvest Fund Management Co. Ltd Boosts Position in The Coca-Cola Company (NYSE:KO)

Harvest Fund Management Co. Ltd lifted its stake in shares of The Coca-Cola Company (NYSE:KO) by 81.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,416 shares of the company’s stock after acquiring an additional 4,669 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Coca-Cola were worth $748,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. New Millennium Group LLC acquired a new stake in shares of Coca-Cola during the 2nd quarter worth about $26,000. Quarry LP acquired a new stake in shares of Coca-Cola during the 2nd quarter worth about $27,000. Hara Capital LLC acquired a new stake in shares of Coca-Cola during the 3rd quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in Coca-Cola in the 3rd quarter valued at about $36,000. Finally, Mount Lucas Management LP acquired a new position in Coca-Cola in the 2nd quarter valued at about $38,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Up 0.7 %

Shares of Coca-Cola stock opened at $64.38 on Tuesday. The firm has a fifty day moving average of $67.63 and a two-hundred day moving average of $66.58. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The company has a market cap of $277.34 billion, a P/E ratio of 26.60, a PEG ratio of 3.88 and a beta of 0.61. The Coca-Cola Company has a one year low of $57.47 and a one year high of $73.53.

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

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a $0.485 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.01%. Coca-Cola’s dividend payout ratio is presently 80.17%.

Insider Activity

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the completion of the transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Morgan Stanley dropped their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Cfra reissued a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Truist Financial boosted their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Wells Fargo & Company lifted their price target on Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Finally, Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Four 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 company. According to data from MarketBeat.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.36.

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.