Harbor Capital Advisors Inc. Has $3.44 Million Stake in The Coca-Cola Company (NYSE:KO)

Harbor Capital Advisors Inc. lifted its position in shares of The Coca-Cola Company (NYSE:KO) by 2.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,243 shares of the company’s stock after buying an additional 1,354 shares during the period. Harbor Capital Advisors Inc.’s holdings in Coca-Cola were worth $3,439,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of KO. Y.D. More Investments Ltd lifted its position in shares of Coca-Cola by 190.8% in the second quarter. Y.D. More Investments Ltd now owns 1,765 shares of the company’s stock worth $112,000 after purchasing an additional 1,158 shares in the last quarter. Achmea Investment Management B.V. lifted its position in Coca-Cola by 1.7% during the 2nd quarter. Achmea Investment Management B.V. now owns 143,615 shares of the company’s stock worth $9,141,000 after buying an additional 2,350 shares in the last quarter. PFG Advisors boosted its stake in shares of Coca-Cola by 4.7% during the 2nd quarter. PFG Advisors now owns 12,755 shares of the company’s stock worth $812,000 after buying an additional 567 shares during the last quarter. Ullmann Wealth Partners Group LLC grew its holdings in shares of Coca-Cola by 6.9% in the 2nd quarter. Ullmann Wealth Partners Group LLC now owns 7,901 shares of the company’s stock valued at $503,000 after acquiring an additional 512 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its position in shares of Coca-Cola by 8.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 8,310,453 shares of the company’s stock valued at $532,558,000 after acquiring an additional 640,402 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO James Quincey sold 100,000 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.97% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

KO has been the subject of several analyst reports. Truist Financial raised their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Barclays decreased their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Wells Fargo & Company dropped their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and lifted their price target for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. Finally, TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola has an average rating of “Moderate Buy” and an average price target of $72.60.

Coca-Cola Stock Performance

Shares of Coca-Cola stock opened at $60.98 on Friday. 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 company has a market cap of $262.69 billion, a PE ratio of 25.20, a price-to-earnings-growth ratio of 3.83 and a beta of 0.61. The company has a 50 day moving average of $62.91 and a 200-day moving average of $66.46. The Coca-Cola Company has a 1-year low of $57.93 and a 1-year high of $73.53.

Coca-Cola (NYSE:KO) last released its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The firm had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. During the same period in the prior year, the company earned $0.74 earnings per share. The company’s quarterly revenue was down .8% on a year-over-year basis. As a group, equities research analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a $0.485 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.18%. Coca-Cola’s dividend payout ratio (DPR) is currently 80.17%.

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.