Harbor Investment Advisory LLC Sells 581 Shares of The Coca-Cola Company (NYSE:KO)

Harbor Investment Advisory LLC decreased its holdings in shares of The Coca-Cola Company (NYSE:KO) by 3.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,723 shares of the company’s stock after selling 581 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Coca-Cola were worth $979,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KO. Zhang Financial LLC raised its position in shares of Coca-Cola by 7.0% during the fourth quarter. Zhang Financial LLC now owns 10,591 shares of the company’s stock valued at $659,000 after buying an additional 694 shares during the last quarter. Guinness Atkinson Asset Management Inc increased its stake in Coca-Cola by 23.4% during the fourth quarter. Guinness Atkinson Asset Management Inc now owns 15,514 shares of the company’s stock valued at $966,000 after acquiring an additional 2,938 shares during the period. Guinness Asset Management LTD increased its stake in Coca-Cola by 5.2% during the fourth quarter. Guinness Asset Management LTD now owns 3,222,386 shares of the company’s stock valued at $200,581,000 after acquiring an additional 160,349 shares during the period. Corundum Group Inc. grew its holdings in shares of Coca-Cola by 72.8% during the 4th quarter. Corundum Group Inc. now owns 18,098 shares of the company’s stock worth $1,127,000 after purchasing an additional 7,623 shares in the last quarter. Finally, Stokes Capital Advisors LLC grew its holdings in shares of Coca-Cola by 4.3% during the 4th quarter. Stokes Capital Advisors LLC now owns 102,647 shares of the company’s stock worth $6,391,000 after purchasing an additional 4,248 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Activity

In other 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 value of $6,403,000.00. Following the transaction, the chief executive officer now owns 342,546 shares of the company’s stock, 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 Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

KO has been the subject of several research reports. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and raised their target price for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Barclays dropped their price target on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Piper Sandler initiated coverage on Coca-Cola in a report on Tuesday, January 7th. They set an “overweight” rating and a $74.00 price objective on the stock. UBS Group dropped their target price on Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Finally, Truist Financial boosted their price target on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $72.13.

Coca-Cola Trading Down 0.5 %

KO opened at $62.39 on Wednesday. The Coca-Cola Company has a 1-year low of $57.93 and a 1-year high of $73.53. The stock has a market capitalization of $268.76 billion, a PE ratio of 25.78, a PEG ratio of 3.43 and a beta of 0.61. 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 50-day moving average price of $62.67 and a two-hundred day moving average price of $66.45.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share 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 analyst estimates of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. Coca-Cola’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter last year, the business posted $0.74 earnings per share. As a group, equities analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

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.