CocaCola Company (The) (NYSE:KO) Shares Bought by Harvest Fund Management Co. Ltd

Key Points

• Harvest Fund Management Co. Ltd significantly increased its holdings in Coca-Cola by purchasing an additional 73,634 shares, raising its total to 73,832 shares worth approximately $5.29 million.
• Insider trading was notable, with EVP Beatriz R. Perez selling 60,326 shares and CEO James Quincey selling 266,403 shares, leading to significant decreases in their ownership stakes.
• The company declared a quarterly dividend of $0.51 per share, with the payment scheduled for October 1st and a payout ratio of 72.34%.

Harvest Fund Management Co. Ltd raised its position in CocaCola Company (The) (NYSE:KO - Free Report) by 37,188.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 73,832 shares of the company's stock after purchasing an additional 73,634 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in CocaCola were worth $5,288,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Northern Trust Corp raised its stake in CocaCola by 9.5% in the fourth quarter. Northern Trust Corp now owns 43,802,296 shares of the company's stock valued at $2,727,131,000 after buying an additional 3,811,756 shares in the last quarter. Franklin Resources Inc. raised its stake in CocaCola by 21.9% in the fourth quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company's stock valued at $2,123,301,000 after buying an additional 6,118,819 shares in the last quarter. Capital International Investors raised its stake in CocaCola by 96.0% in the fourth quarter. Capital International Investors now owns 24,949,194 shares of the company's stock valued at $1,553,337,000 after buying an additional 12,222,885 shares in the last quarter. Invesco Ltd. raised its stake in CocaCola by 18.2% in the fourth quarter. Invesco Ltd. now owns 24,566,933 shares of the company's stock valued at $1,529,537,000 after buying an additional 3,791,300 shares in the last quarter. Finally, Fayez Sarofim & Co raised its stake in CocaCola by 6.7% in the fourth quarter. Fayez Sarofim & Co now owns 18,408,210 shares of the company's stock valued at $1,148,609,000 after buying an additional 1,155,538 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at CocaCola

In related news, EVP Beatriz R. Perez sold 60,326 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $71.87, for a total value of $4,335,629.62. Following the sale, the executive vice president owned 187,716 shares of the company's stock, valued at approximately $13,491,148.92. This represents a 24.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James Quincey sold 266,403 shares of the company's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $72.06, for a total value of $19,197,000.18. Following the completion of the sale, the chief executive officer directly owned 275,946 shares in the company, valued at approximately $19,884,668.76. The trade was a 49.12% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 415,387 shares of company stock valued at $29,923,985. 0.97% of the stock is owned by corporate insiders.

CocaCola Price Performance

Shares of NYSE:KO traded down $0.64 during trading on Wednesday, hitting $68.74. 10,360,076 shares of the stock were exchanged, compared to its average volume of 15,459,032. The company has a fifty day moving average price of $70.45 and a two-hundred day moving average price of $69.49. The company has a market cap of $295.83 billion, a PE ratio of 24.38, a P/E/G ratio of 3.61 and a beta of 0.45. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.49. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38.

CocaCola (NYSE:KO - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.83 by $0.04. CocaCola had a return on equity of 44.91% and a net margin of 25.89%. The business had revenue of $12.50 billion for the quarter, compared to analyst estimates of $12.55 billion. During the same quarter in the previous year, the company earned $0.84 EPS. The company's quarterly revenue was up 2.5% on a year-over-year basis. On average, analysts forecast that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date of this dividend is Monday, September 15th. CocaCola's payout ratio is currently 72.34%.

Analysts Set New Price Targets

A number of research firms have weighed in on KO. Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the company an "outperform" rating in a research note on Monday, July 21st. BNP Paribas reiterated an "outperform" rating and set a $83.00 target price on shares of CocaCola in a research report on Monday, July 21st. UBS Group cut their target price on CocaCola from $86.00 to $84.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. Morgan Stanley reiterated an "overweight" rating and set a $81.00 target price on shares of CocaCola in a research report on Monday, June 9th. Finally, JPMorgan Chase & Co. lifted their target price on CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $77.21.

CocaCola Company 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.