CocaCola Company (The) $KO Shares Sold by Harbour Investment Management LLC

Key Points

• Harbour Investment Management LLC reduced its stake in CocaCola by 9.1%, selling 4,080 shares, which now represents 1.3% of its portfolio, valued at approximately $2.9 million.
• CocaCola has a consensus rating of "Buy" from analysts, with a target price averaging around $78.31, despite a recent price adjustment by UBS from $84 to $80.
• The company announced a quarterly dividend of $0.51 per share, with the payment date set for December 15, reflecting an annualized yield of 2.9%.

Harbour Investment Management LLC cut its holdings in CocaCola Company (The) (NYSE:KO - Free Report) by 9.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,672 shares of the company's stock after selling 4,080 shares during the quarter. CocaCola makes up approximately 1.3% of Harbour Investment Management LLC's portfolio, making the stock its 24th largest holding. Harbour Investment Management LLC's holdings in CocaCola were worth $2,898,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of KO. New Republic Capital LLC increased its position in CocaCola by 1.6% during the first quarter. New Republic Capital LLC now owns 8,662 shares of the company's stock worth $625,000 after buying an additional 139 shares in the last quarter. Alteri Wealth LLC lifted its position in shares of CocaCola by 2.1% in the first quarter. Alteri Wealth LLC now owns 6,874 shares of the company's stock valued at $492,000 after acquiring an additional 140 shares in the last quarter. Requisite Capital Management LLC boosted its stake in shares of CocaCola by 2.8% during the second quarter. Requisite Capital Management LLC now owns 5,285 shares of the company's stock valued at $377,000 after acquiring an additional 142 shares during the last quarter. Deseret Mutual Benefit Administrators raised its stake in CocaCola by 0.7% in the 1st quarter. Deseret Mutual Benefit Administrators now owns 20,099 shares of the company's stock valued at $1,439,000 after purchasing an additional 143 shares during the last quarter. Finally, MBA Advisors LLC lifted its holdings in CocaCola by 1.2% in the 1st quarter. MBA Advisors LLC now owns 12,443 shares of the company's stock valued at $891,000 after purchasing an additional 143 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at CocaCola

In related news, insider Nikolaos Koumettis sold 37,396 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total value of $2,584,063.60. Following the transaction, the insider owned 209,513 shares in the company, valued at approximately $14,477,348.30. This trade represents a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.97% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Barclays reissued an "overweight" rating on shares of CocaCola in a research report on Thursday. UBS Group cut their price target on CocaCola from $84.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, September 11th. Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the stock an "outperform" rating in a research note on Monday, July 21st. Cowen restated a "buy" rating on shares of CocaCola in a report on Wednesday. Finally, JPMorgan Chase & Co. upped their target price on CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the company. According to data from MarketBeat.com, CocaCola has a consensus rating of "Buy" and an average target price of $78.31.

CocaCola Stock Down 1.1%

Shares of NYSE KO opened at $70.01 on Friday. The stock has a market capitalization of $301.32 billion, a PE ratio of 23.18, a P/E/G ratio of 3.69 and a beta of 0.43. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.30. The firm has a fifty day moving average of $67.82 and a 200-day moving average of $69.72. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38.

CocaCola (NYSE:KO - Get Free Report) last issued its earnings results on Thursday, March 27th. The company reported $0.55 earnings per share for the quarter. CocaCola had a return on equity of 43.62% and a net margin of 27.34%.The firm had revenue of $11.40 billion for the quarter. On average, analysts anticipate that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a dividend of $0.51 per share. The ex-dividend date is Monday, December 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.9%. CocaCola's payout ratio is presently 67.55%.

CocaCola 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.