Harvey Investment Co. LLC Sells 365 Shares of The Coca-Cola Company (NYSE:KO)

Harvey Investment Co. LLC lessened its stake in shares of The Coca-Cola Company (NYSE:KO) by 0.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 73,973 shares of the company’s stock after selling 365 shares during the period. Harvey Investment Co. LLC’s holdings in Coca-Cola were worth $5,316,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its stake in Coca-Cola by 21.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock valued at $3,016,023,000 after purchasing an additional 8,733,326 shares during the period. Legal & General Group Plc lifted its holdings in shares of Coca-Cola by 2.9% during the second quarter. Legal & General Group Plc now owns 38,701,876 shares of the company’s stock worth $2,463,373,000 after buying an additional 1,084,475 shares during the last quarter. Truist Financial Corp lifted its holdings in shares of Coca-Cola by 1.1% during the second quarter. Truist Financial Corp now owns 16,362,598 shares of the company’s stock worth $1,041,479,000 after buying an additional 177,241 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Coca-Cola by 30.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,698,984 shares of the company’s stock valued at $776,924,000 after acquiring an additional 2,964,850 shares during the period. Finally, Canada Pension Plan Investment Board grew its stake in shares of Coca-Cola by 15.7% in the first quarter. Canada Pension Plan Investment Board now owns 10,433,875 shares of the company’s stock worth $638,344,000 after acquiring an additional 1,417,930 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Down 0.2 %

KO opened at $67.84 on Thursday. The Coca-Cola Company has a twelve month low of $55.10 and a twelve month high of $73.53. The firm has a market cap of $292.25 billion, a price-to-earnings ratio of 27.21, a PEG ratio of 3.92 and a beta of 0.60. The firm’s 50-day simple moving average is $70.74 and its 200-day simple moving average is $65.96. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08.

Coca-Cola (NYSE:KO) last announced its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.74 by $0.03. The company had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The business’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.74 earnings per share. Equities research analysts anticipate that The Coca-Cola Company will post 2.85 EPS 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 dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio is 77.60%.

Wall Street Analyst Weigh In

KO has been the subject of a number of research reports. Barclays increased their price target on shares of Coca-Cola from $70.00 to $74.00 and gave the company an “overweight” rating in a report on Friday, October 11th. StockNews.com cut shares of Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Citigroup boosted their price target on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Bank of America raised their price objective on Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. boosted their price objective on Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $71.87.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the sale, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Coca-Cola news, CEO James Quincey sold 102,533 shares of Coca-Cola stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nancy Quan sold 18,484 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at $15,968,095. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 356,792 shares of company stock worth $24,728,364. Insiders own 0.97% of the company’s stock.

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.