Harel Insurance Investments & Financial Services Ltd. Decreases Position in The Coca-Cola Co (NYSE:KO)

Harel Insurance Investments & Financial Services Ltd. decreased its holdings in shares of The Coca-Cola Co (NYSE:KO) by 53.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,056 shares of the company’s stock after selling 5,884 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in The Coca-Cola were worth $275,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the stock. Verity Asset Management Inc. raised its stake in shares of The Coca-Cola by 1.7% during the second quarter. Verity Asset Management Inc. now owns 11,218 shares of the company’s stock worth $571,000 after purchasing an additional 192 shares during the last quarter. Executive Wealth Management LLC raised its stake in shares of The Coca-Cola by 11.9% during the third quarter. Executive Wealth Management LLC now owns 1,843 shares of the company’s stock worth $100,000 after purchasing an additional 196 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. raised its stake in shares of The Coca-Cola by 1.2% during the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 17,168 shares of the company’s stock worth $935,000 after purchasing an additional 197 shares during the last quarter. Arbor Wealth Management LLC raised its stake in shares of The Coca-Cola by 13.2% during the second quarter. Arbor Wealth Management LLC now owns 1,706 shares of the company’s stock worth $87,000 after purchasing an additional 199 shares during the last quarter. Finally, Bluestein R H & Co. raised its stake in shares of The Coca-Cola by 3.5% during the second quarter. Bluestein R H & Co. now owns 5,915 shares of the company’s stock worth $301,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 67.28% of the company’s stock.

The Coca-Cola stock traded up $0.67 during trading hours on Wednesday, hitting $52.38. The stock had a trading volume of 8,060,471 shares, compared to its average volume of 13,173,544. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.92 and a quick ratio of 0.79. The stock has a market capitalization of $223.69 billion, a price-to-earnings ratio of 25.18, a PEG ratio of 3.64 and a beta of 0.46. The Coca-Cola Co has a 1-year low of $44.42 and a 1-year high of $55.92. The stock’s fifty day moving average is $53.73 and its two-hundred day moving average is $52.30.

The Coca-Cola (NYSE:KO) last posted its earnings results on Friday, October 18th. The company reported $0.56 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.56. The company had revenue of $9.51 billion for the quarter, compared to analyst estimates of $9.42 billion. The Coca-Cola had a return on equity of 45.21% and a net margin of 22.41%. The Coca-Cola’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.57 earnings per share. As a group, sell-side analysts anticipate that The Coca-Cola Co will post 2.1 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.05%. The ex-dividend date is Friday, November 29th. The Coca-Cola’s dividend payout ratio (DPR) is 76.92%.

In other news, SVP Nancy Quan sold 24,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $53.90, for a total value of $1,293,600.00. Following the sale, the senior vice president now directly owns 189,049 shares in the company, valued at $10,189,741.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Brian John Smith sold 60,000 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $54.87, for a total value of $3,292,200.00. Following the completion of the sale, the chief operating officer now owns 174,302 shares in the company, valued at $9,563,950.74. The disclosure for this sale can be found here. Insiders sold 403,026 shares of company stock worth $22,037,406 in the last three months. 1.33% of the stock is owned by corporate insiders.

Several equities research analysts have recently commented on KO shares. Bank of America restated a “buy” rating and set a $60.00 price target (up previously from $55.00) on shares of The Coca-Cola in a research note on Wednesday, July 24th. HSBC reaffirmed a “neutral” rating and set a $52.00 price objective on shares of The Coca-Cola in a report on Wednesday, July 24th. SunTrust Banks upped their price objective on The Coca-Cola to $60.00 and gave the stock a “positive” rating in a report on Wednesday, July 24th. Morgan Stanley reaffirmed a “buy” rating and set a $60.00 price objective on shares of The Coca-Cola in a report on Tuesday, October 29th. Finally, Wells Fargo & Co set a $60.00 price objective on The Coca-Cola and gave the stock a “buy” rating in a report on Monday, October 21st. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The Coca-Cola has a consensus rating of “Buy” and an average price target of $55.95.

The Coca-Cola Company Profile

The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plant-based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

Further Reading: Market Perform

Institutional Ownership by Quarter for The Coca-Cola (NYSE:KO)

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