Bar Harbor Wealth Management Lowers Stock Holdings in The Coca-Cola Company (NYSE:KO)

Bar Harbor Wealth Management lowered its position in shares of The Coca-Cola Company (NYSE:KO) by 1.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 65,516 shares of the company’s stock after selling 1,180 shares during the period. Bar Harbor Wealth Management’s holdings in Coca-Cola were worth $4,708,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of KO. Price T Rowe Associates Inc. MD lifted its holdings in shares of Coca-Cola by 21.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock worth $3,016,023,000 after acquiring an additional 8,733,326 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Coca-Cola by 30.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,698,984 shares of the company’s stock valued at $776,924,000 after buying an additional 2,964,850 shares during the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of Coca-Cola in the 2nd quarter valued at about $188,448,000. M&G Plc bought a new position in Coca-Cola during the 1st quarter worth approximately $157,087,000. Finally, Raymond James & Associates increased its stake in Coca-Cola by 42.6% in the 2nd quarter. Raymond James & Associates now owns 6,245,331 shares of the company’s stock worth $397,515,000 after purchasing an additional 1,866,348 shares during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on KO. Barclays raised their target price on shares of Coca-Cola from $70.00 to $74.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. TD Cowen raised their target price on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. StockNews.com lowered Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Truist Financial increased their price objective on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Wells Fargo & Company boosted their target price on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Five research 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $72.00.

Insider Buying and Selling at Coca-Cola

In other news, EVP Nancy Quan sold 37,787 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $66.96, for a total value of $2,530,217.52. Following the completion of the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $14,954,176.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Nancy Quan sold 37,787 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $66.96, for a total transaction of $2,530,217.52. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $14,954,176.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James Quincey sold 102,533 shares of Coca-Cola stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total value of $7,179,360.66. Following the completion of the sale, the chief executive officer now directly owns 442,546 shares in the company, valued at approximately $30,987,070.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 356,792 shares of company stock valued at $24,728,364 over the last 90 days. 0.97% of the stock is currently owned by corporate insiders.

Coca-Cola Stock Down 1.0 %

KO opened at $69.88 on Friday. The Coca-Cola Company has a 1-year low of $53.86 and a 1-year high of $73.53. The firm’s 50 day simple moving average is $70.67 and its two-hundred day simple moving average is $65.65. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The company has a market capitalization of $301.04 billion, a PE ratio of 27.95, a PEG ratio of 3.92 and a beta of 0.60.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.03. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The company had revenue of $12.40 billion for the quarter, compared to the consensus estimate of $11.78 billion. During the same period in the previous year, the business earned $0.78 earnings per share. Coca-Cola’s quarterly revenue was up 3.3% compared to the same quarter last year. As a group, equities analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were paid a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date was Friday, September 13th. Coca-Cola’s payout ratio is 77.60%.

Coca-Cola 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.