Kentucky Retirement Systems Sells 16,307 Shares of CocaCola Company (The) $KO

Kentucky Retirement Systems reduced its stake in CocaCola Company (The) (NYSE:KO) by 6.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 248,844 shares of the company’s stock after selling 16,307 shares during the quarter. Kentucky Retirement Systems’ holdings in CocaCola were worth $17,606,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of CocaCola by 1.7% during the second quarter. Vanguard Group Inc. now owns 367,441,971 shares of the company’s stock valued at $25,996,519,000 after buying an additional 6,241,163 shares during the period. Perigon Wealth Management LLC boosted its holdings in CocaCola by 3.6% in the second quarter. Perigon Wealth Management LLC now owns 130,164 shares of the company’s stock valued at $9,209,000 after acquiring an additional 4,469 shares in the last quarter. Aberdeen Group plc increased its position in CocaCola by 5.0% during the 2nd quarter. Aberdeen Group plc now owns 4,557,668 shares of the company’s stock valued at $322,455,000 after purchasing an additional 216,752 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in CocaCola by 6.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 30,889,415 shares of the company’s stock valued at $2,212,300,000 after purchasing an additional 1,794,561 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in CocaCola in the 2nd quarter worth $22,443,000. Institutional investors own 70.26% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on KO. Weiss Ratings reiterated a “buy (b-)” rating on shares of CocaCola in a research report on Wednesday, October 8th. Bank of America upped their target price on CocaCola from $78.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, November 7th. UBS Group reissued a “buy” rating on shares of CocaCola in a research report on Friday, December 5th. Cowen restated a “buy” rating on shares of CocaCola in a research report on Wednesday, October 22nd. Finally, Evercore ISI reiterated an “outperform” rating on shares of CocaCola in a report on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $79.08.

Insider Activity at CocaCola

In related news, EVP Nancy Quan sold 31,625 shares of the stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $71.17, for a total transaction of $2,250,751.25. Following the sale, the executive vice president directly owned 223,330 shares of the company’s stock, valued at approximately $15,894,396.10. This represents a 12.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Henrique Braun sold 40,390 shares of CocaCola stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $70.93, for a total transaction of $2,864,862.70. Following the completion of the transaction, the chief operating officer directly owned 62,621 shares of the company’s stock, valued at $4,441,707.53. This trade represents a 39.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 225,252 shares of company stock worth $15,953,007 in the last ninety days. 0.97% of the stock is currently owned by company insiders.

CocaCola Stock Performance

Shares of KO opened at $70.51 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.21 and a debt-to-equity ratio of 1.30. The stock has a market cap of $303.29 billion, a P/E ratio of 23.35, a P/E/G ratio of 3.92 and a beta of 0.39. The business’s 50 day moving average price is $69.85 and its 200-day moving average price is $69.48. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38.

CocaCola (NYSE:KO) last announced its quarterly earnings data on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. CocaCola had a return on equity of 43.62% and a net margin of 27.34%.The business had revenue of $11.40 billion during the quarter. Equities research analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, December 1st. CocaCola’s payout ratio is currently 67.55%.

CocaCola 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.