The Coca-Cola Company (NYSE:KO) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems reduced its position in The Coca-Cola Company (NYSE:KO) by 1.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 292,169 shares of the company’s stock after selling 3,331 shares during the period. Kentucky Retirement Systems’ holdings in Coca-Cola were worth $18,597,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of KO. Tidemark LLC acquired a new position in Coca-Cola during the fourth quarter valued at approximately $26,000. New Millennium Group LLC acquired a new position in shares of Coca-Cola during the 2nd quarter valued at $26,000. Redmont Wealth Advisors LLC purchased a new stake in Coca-Cola during the 1st quarter worth $28,000. ESL Trust Services LLC purchased a new stake in Coca-Cola during the 1st quarter worth $28,000. Finally, Frazier Financial Advisors LLC acquired a new stake in Coca-Cola in the 4th quarter valued at $31,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Coca-Cola

In other news, EVP Nancy Quan sold 19,304 shares of the stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $64.96, for a total transaction of $1,253,987.84. Following the sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $14,507,516.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Nancy Quan sold 19,304 shares of the company’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $64.96, for a total transaction of $1,253,987.84. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at $14,507,516.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Cola Co Coca sold 598,619 shares of the stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the completion of the sale, the insider now directly owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The disclosure for this sale can be found here. Insiders sold a total of 974,715 shares of company stock worth $579,704,927 over the last ninety days. Company insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on KO shares. Morgan Stanley upped their target price on Coca-Cola from $70.00 to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 27th. Royal Bank of Canada lifted their price objective on shares of Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. BNP Paribas initiated coverage on shares of Coca-Cola in a research report on Monday, June 24th. They set an “outperform” rating and a $72.00 target price on the stock. Wells Fargo & Company raised their price target on shares of Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Monday. Finally, Barclays boosted their price objective on shares of Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.07.

Coca-Cola Price Performance

Shares of KO opened at $71.76 on Thursday. 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 firm has a market cap of $309.14 billion, a price-to-earnings ratio of 28.70, a PEG ratio of 3.93 and a beta of 0.60. The Coca-Cola Company has a 52 week low of $51.55 and a 52 week high of $73.53. The stock has a 50 day moving average of $68.83 and a 200-day moving average of $64.18.

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 net margin of 22.92% and a return on equity of 43.62%. The firm had revenue of $12.40 billion during the quarter, compared to analyst estimates of $11.78 billion. During the same quarter in the previous year, the firm earned $0.78 earnings per share. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a $0.485 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a yield of 2.70%. Coca-Cola’s dividend payout ratio is currently 77.60%.

About Coca-Cola

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.