VIRGINIA RETIREMENT SYSTEMS ET Al Acquires Shares of 317,209 CocaCola Company (The) $KO

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in CocaCola Company (The) (NYSE:KO) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 317,209 shares of the company’s stock, valued at approximately $22,443,000.

Several other institutional investors have also modified their holdings of the company. New Republic Capital LLC boosted its stake in shares of CocaCola by 1.6% during the 1st quarter. New Republic Capital LLC now owns 8,662 shares of the company’s stock worth $625,000 after acquiring an additional 139 shares in the last quarter. Alteri Wealth LLC boosted its stake in shares of CocaCola by 2.1% during the 1st quarter. Alteri Wealth LLC now owns 6,874 shares of the company’s stock worth $492,000 after acquiring an additional 140 shares in the last quarter. Requisite Capital Management LLC boosted its stake in shares of CocaCola by 2.8% during the 2nd quarter. Requisite Capital Management LLC now owns 5,285 shares of the company’s stock worth $377,000 after acquiring an additional 142 shares in the last quarter. Deseret Mutual Benefit Administrators boosted its stake in shares of CocaCola by 0.7% during the 1st quarter. Deseret Mutual Benefit Administrators now owns 20,099 shares of the company’s stock worth $1,439,000 after acquiring an additional 143 shares in the last quarter. Finally, MBA Advisors LLC boosted its stake in shares of CocaCola by 1.2% during the 1st quarter. MBA Advisors LLC now owns 12,443 shares of the company’s stock worth $891,000 after acquiring an additional 143 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

CocaCola Price Performance

KO stock opened at $68.45 on Monday. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.98 and a current ratio of 1.21. The stock’s 50 day moving average price is $67.84 and its 200 day moving average price is $69.69. The firm has a market cap of $294.60 billion, a P/E ratio of 24.27, a PEG ratio of 3.57 and a beta of 0.43.

CocaCola (NYSE:KO) last issued its quarterly earnings results on Thursday, March 27th. The company reported $0.55 earnings per share for the quarter. The company had revenue of $11.40 billion during the quarter. CocaCola had a return on equity of 44.91% and a net margin of 25.89%. On average, sell-side analysts expect that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a $0.51 dividend. The ex-dividend date is Monday, December 1st. This represents a $2.04 annualized dividend and a yield of 3.0%. CocaCola’s payout ratio is 72.34%.

Analyst Upgrades and Downgrades

KO has been the topic of several research analyst reports. UBS Group decreased their price target on CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, September 11th. JPMorgan Chase & Co. boosted their price target on CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. Wells Fargo & Company reduced their target price on CocaCola from $78.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CocaCola in a research note on Wednesday, October 8th. Finally, Royal Bank Of Canada set a $76.00 target price on CocaCola and gave the company an “outperform” rating in a research note on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $76.69.

Insiders Place Their Bets

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of the business’s stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total value of $2,584,063.60. Following the completion of the transaction, the insider directly owned 209,513 shares in the company, valued at approximately $14,477,348.30. The trade was a 15.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.90% of the company’s stock.

CocaCola 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.