Harvest Fund Management Co. Ltd Grows Stock Holdings in The Coca-Cola Company (NYSE:KO)

Harvest Fund Management Co. Ltd raised its position in shares of The Coca-Cola Company (NYSE:KO) by 81.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,416 shares of the company’s stock after buying an additional 4,669 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Coca-Cola were worth $748,000 at the end of the most recent reporting period.

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

Coca-Cola Trading Up 0.7 %

Shares of NYSE:KO opened at $64.38 on Tuesday. The Coca-Cola Company has a 1 year low of $57.47 and a 1 year high of $73.53. The firm has a market capitalization of $277.34 billion, a price-to-earnings ratio of 26.60, a price-to-earnings-growth ratio of 3.88 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The business’s 50 day moving average price is $67.63 and its 200-day moving average price is $66.58.

Coca-Cola (NYSE:KO) last announced its 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 firm had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The business’s revenue was down .8% on a year-over-year basis. During the same quarter last year, the firm posted $0.74 EPS. On average, equities research analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Morgan Stanley cut their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Wells Fargo & Company increased their price target on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Cfra reiterated a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Finally, Truist Financial raised their price objective 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. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $72.36.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the transaction, the chief executive officer now 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.97% of the stock is currently owned by insiders.

About Coca-Cola

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.