Harbor Investment Advisory LLC Sells 2,351 Shares of The Coca-Cola Company (NYSE:KO)

Harbor Investment Advisory LLC decreased its holdings in The Coca-Cola Company (NYSE:KO) by 11.9% in the first quarter, Holdings Channel reports. The firm owned 17,456 shares of the company’s stock after selling 2,351 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Coca-Cola were worth $1,068,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. ZRC Wealth Management LLC boosted its stake in shares of Coca-Cola by 213.3% in the fourth quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock worth $26,000 after acquiring an additional 320 shares during the period. Tidemark LLC bought a new position in Coca-Cola during the fourth quarter valued at approximately $26,000. Private Wealth Management Group LLC bought a new position in Coca-Cola during the fourth quarter valued at approximately $27,000. Criterion Capital Advisors LLC bought a new position in Coca-Cola during the fourth quarter valued at approximately $30,000. Finally, Frazier Financial Advisors LLC bought a new position in Coca-Cola during the fourth quarter valued at approximately $31,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Trading Up 1.9 %

Shares of NYSE KO opened at $63.98 on Tuesday. The business’s 50 day moving average price is $62.32 and its 200-day moving average price is $60.65. The company has a market cap of $275.62 billion, a price-to-earnings ratio of 25.59, a PEG ratio of 3.55 and a beta of 0.59. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $64.36. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 1.04.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.70 by $0.02. The company had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $11.01 billion. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. Coca-Cola’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the business posted $0.68 EPS. On average, sell-side analysts expect that The Coca-Cola Company will post 2.82 earnings per share for the current year.

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.94 annualized dividend and a yield of 3.03%. Coca-Cola’s payout ratio is currently 77.60%.

Analyst Ratings Changes

KO has been the subject of several analyst reports. Argus raised their price objective on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. JPMorgan Chase & Co. raised their price objective on Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Barclays raised their price objective on Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. StockNews.com lowered Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. Finally, UBS Group raised their price objective on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $68.83.

Insiders Place Their Bets

In other Coca-Cola news, insider Nikolaos Koumettis sold 80,891 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $62.34, for a total transaction of $5,042,744.94. Following the sale, the insider now owns 218,880 shares of the company’s stock, valued at approximately $13,644,979.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Beatriz R. Perez sold 57,298 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $61.99, for a total value of $3,551,903.02. Following the completion of the sale, the executive vice president now owns 167,107 shares of the company’s stock, valued at approximately $10,358,962.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nikolaos Koumettis sold 80,891 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $62.34, for a total value of $5,042,744.94. Following the completion of the sale, the insider now directly owns 218,880 shares of the company’s stock, valued at approximately $13,644,979.20. The disclosure for this sale can be found here. Insiders have sold 223,665 shares of company stock worth $13,995,465 in the last ninety days. 0.97% of the stock is owned by company insiders.

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.