Harel Insurance Investments & Financial Services Ltd. Reduces Stake in The Coca-Cola Company (NYSE:KO)

Harel Insurance Investments & Financial Services Ltd. lessened its stake in shares of The Coca-Cola Company (NYSE:KO) by 47.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,210 shares of the company’s stock after selling 2,857 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in Coca-Cola were worth $200,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. The Manufacturers Life Insurance Company raised its holdings in shares of Coca-Cola by 1.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,393,352 shares of the company’s stock valued at $152,337,000 after acquiring an additional 22,623 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Coca-Cola in the second quarter valued at approximately $23,985,000. Oliver Lagore Vanvalin Investment Group raised its stake in Coca-Cola by 29.2% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 1,878 shares of the company’s stock valued at $120,000 after purchasing an additional 425 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc grew its stake in Coca-Cola by 64.0% in the 2nd quarter. Texas Capital Bank Wealth Management Services Inc now owns 5,704 shares of the company’s stock worth $363,000 after buying an additional 2,226 shares in the last quarter. Finally, Kathmere Capital Management LLC increased its holdings in shares of Coca-Cola by 13.9% in the 2nd quarter. Kathmere Capital Management LLC now owns 5,605 shares of the company’s stock worth $357,000 after buying an additional 683 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

KO has been the subject of several research reports. Morgan Stanley cut their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Wells Fargo & Company cut their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Wednesday, January 8th. Barclays cut their target price on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Finally, Truist Financial lifted their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.07.

Insider Activity at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction that occurred on Friday, November 8th. The stock was 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 directly owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.97% of the stock is owned by corporate insiders.

Coca-Cola Price Performance

Shares of Coca-Cola stock opened at $61.98 on Friday. The business has a 50 day moving average of $62.62 and a 200 day moving average of $66.36. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53. The company has a market cap of $267.01 billion, a PE ratio of 25.61, a P/E/G ratio of 3.38 and a beta of 0.61. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping the consensus estimate 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 net margin of 22.45% and a return on equity of 44.01%. The company’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the prior year, the business earned $0.74 EPS. As a group, equities research analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola 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.