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

Harvey Investment Co. LLC trimmed its holdings in shares of The Coca-Cola Company (NYSE:KO) by 0.5% in the third quarter, Holdings Channel.com reports. The firm owned 73,973 shares of the company’s stock after selling 365 shares during the quarter. Harvey Investment Co. LLC’s holdings in Coca-Cola were worth $5,316,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of KO. Brookstone Capital Management boosted its holdings in Coca-Cola by 67.4% during the first quarter. Brookstone Capital Management now owns 78,799 shares of the company’s stock worth $4,821,000 after purchasing an additional 31,740 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new stake in shares of Coca-Cola in the first quarter valued at about $126,000. Key Client Fiduciary Advisors LLC boosted its position in Coca-Cola by 59.8% during the first quarter. Key Client Fiduciary Advisors LLC now owns 6,862 shares of the company’s stock valued at $420,000 after purchasing an additional 2,567 shares during the last quarter. Aspiriant LLC increased its position in shares of Coca-Cola by 1.7% during the 1st quarter. Aspiriant LLC now owns 14,659 shares of the company’s stock worth $897,000 after purchasing an additional 249 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC raised its stake in shares of Coca-Cola by 14.0% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 38,634 shares of the company’s stock worth $2,364,000 after purchasing an additional 4,754 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

KO has been the topic of several analyst reports. Barclays upped their price target on shares of Coca-Cola from $70.00 to $74.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Cfra reissued a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Morgan Stanley cut their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday. Citigroup boosted their target price on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. 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’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.87.

Insider Activity

In related news, EVP Nancy Quan sold 37,787 shares of Coca-Cola stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $66.96, for a total value of $2,530,217.52. Following the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $14,954,176.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Coca-Cola news, insider Bruno Pietracci sold 38,653 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $69.01, for a total transaction of $2,667,443.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nancy Quan sold 37,787 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $66.96, for a total transaction of $2,530,217.52. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $14,954,176.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 356,792 shares of company stock worth $24,728,364. 0.97% of the stock is currently owned by corporate insiders.

Coca-Cola Trading Down 0.2 %

Shares of KO stock opened at $67.84 on Thursday. The stock has a market cap of $292.25 billion, a P/E ratio of 27.21, a price-to-earnings-growth ratio of 3.92 and a beta of 0.60. The Coca-Cola Company has a 1 year low of $55.10 and a 1 year high of $73.53. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The stock has a 50 day simple moving average of $70.74 and a 200 day simple moving average of $65.96.

Coca-Cola (NYSE:KO) last released its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (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 analyst estimates of $11.61 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. Coca-Cola’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.74 EPS. On average, research analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently announced 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. 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 currently 77.60%.

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.