Bar Harbor Wealth Management Has $3.86 Million Position in The Coca-Cola Company (NYSE:KO)

Bar Harbor Wealth Management cut its stake in shares of The Coca-Cola Company (NYSE:KO) by 5.3% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 62,057 shares of the company’s stock after selling 3,459 shares during the period. Bar Harbor Wealth Management’s holdings in Coca-Cola were worth $3,864,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. FMR LLC lifted its position in Coca-Cola by 13.7% during the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company’s stock worth $6,680,205,000 after buying an additional 11,206,995 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Coca-Cola by 14.5% in the 3rd quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock valued at $2,271,885,000 after buying an additional 4,013,996 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Coca-Cola in the third quarter worth about $269,382,000. Geode Capital Management LLC raised its stake in shares of Coca-Cola by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock valued at $6,664,005,000 after purchasing an additional 2,966,964 shares during the period. Finally, Pathway Financial Advisers LLC boosted its holdings in Coca-Cola by 7,006.8% during the third quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company’s stock worth $178,104,000 after purchasing an additional 2,443,612 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on KO shares. Morgan Stanley dropped their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Truist Financial boosted their target price on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Barclays reduced their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Finally, Piper Sandler started coverage on Coca-Cola in a report on Tuesday, January 7th. They set an “overweight” rating and a $74.00 price objective for the company. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $72.60.

Insider Activity at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the sale, the chief executive officer now owns 342,546 shares in the company, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.97% of the stock is currently owned by insiders.

Coca-Cola Trading Up 1.0 %

NYSE KO traded up $0.61 during trading on Monday, hitting $61.68. 12,059,519 shares of the company’s stock traded hands, compared to its average volume of 15,207,906. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The stock has a fifty day moving average of $62.91 and a two-hundred day moving average of $66.50. The firm has a market cap of $265.70 billion, a P/E ratio of 25.49, a PEG ratio of 3.83 and a beta of 0.61.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. The business had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. Coca-Cola’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.74 EPS. As a group, sell-side analysts expect that The Coca-Cola Company will post 2.85 EPS for the current 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 paid a $0.485 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.15%. Coca-Cola’s dividend payout ratio 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.