Safe Harbor Fiduciary LLC Takes Position in The Coca-Cola Company (NYSE:KO)

Safe Harbor Fiduciary LLC acquired a new stake in The Coca-Cola Company (NYSE:KO) in the 3rd quarter, Holdings Channel.com reports. The fund acquired 7,159 shares of the company’s stock, valued at approximately $514,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. BDF Gestion bought a new stake in Coca-Cola in the second quarter valued at approximately $7,421,000. Manning & Napier Advisors LLC bought a new stake in Coca-Cola in the second quarter valued at approximately $188,448,000. Cambridge Advisors Inc. boosted its holdings in shares of Coca-Cola by 11.7% during the 2nd quarter. Cambridge Advisors Inc. now owns 9,938 shares of the company’s stock worth $633,000 after buying an additional 1,039 shares in the last quarter. Cliftonlarsonallen Wealth Advisors LLC boosted its holdings in shares of Coca-Cola by 0.9% during the 2nd quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 32,210 shares of the company’s stock worth $2,050,000 after buying an additional 284 shares in the last quarter. Finally, Accel Wealth Management lifted its holdings in shares of Coca-Cola by 9.4% in the 2nd quarter. Accel Wealth Management now owns 3,682 shares of the company’s stock worth $234,000 after purchasing an additional 316 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Stock Performance

Shares of KO opened at $62.21 on Thursday. The company has a market cap of $267.99 billion, a PE ratio of 25.71, a price-to-earnings-growth ratio of 3.86 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 stock has a 50-day moving average price of $66.57 and a 200-day moving average price of $66.58. The Coca-Cola Company has a 12-month low of $57.47 and a 12-month high of $73.53.

Coca-Cola (NYSE:KO) last issued its quarterly 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 during the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The company’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter last year, the company posted $0.74 EPS. As a group, equities analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a $0.485 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a yield of 3.12%. Coca-Cola’s dividend payout ratio (DPR) is currently 80.17%.

Insiders Place Their Bets

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction that occurred 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 directly owns 342,546 shares of the company’s stock, valued at $21,933,220.38. The trade was a 22.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

KO has been the topic of a number of recent research reports. Cfra reiterated a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Wells Fargo & Company lowered their price target on Coca-Cola from $78.00 to $75.00 and set an “overweight” rating for the company in a research report on Monday. Barclays lowered their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Truist Financial increased their price target on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $72.14.

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.