Public Sector Pension Investment Board Purchases 20,600 Shares of The Coca-Cola Company (NYSE:KO)

Public Sector Pension Investment Board grew its position in shares of The Coca-Cola Company (NYSE:KO) by 17.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 140,909 shares of the company’s stock after buying an additional 20,600 shares during the quarter. Public Sector Pension Investment Board’s holdings in Coca-Cola were worth $10,126,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Fiduciary Trust Co raised its holdings in Coca-Cola by 0.8% in the 3rd quarter. Fiduciary Trust Co now owns 203,298 shares of the company’s stock worth $14,609,000 after purchasing an additional 1,514 shares during the period. Boussard & Gavaudan Investment Management LLP bought a new position in Coca-Cola in the 3rd quarter worth $17,684,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Coca-Cola by 19.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,194,849 shares of the company’s stock worth $157,722,000 after purchasing an additional 364,526 shares during the period. Providence Capital Advisors LLC raised its holdings in Coca-Cola by 0.8% in the 3rd quarter. Providence Capital Advisors LLC now owns 44,169 shares of the company’s stock worth $3,174,000 after purchasing an additional 362 shares during the period. Finally, First Commonwealth Financial Corp PA bought a new position in Coca-Cola in the 3rd quarter worth $206,000. 70.26% of the stock is owned by institutional investors.

Coca-Cola Trading Down 0.2 %

KO opened at $64.43 on Friday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The stock has a market cap of $277.55 billion, a price-to-earnings ratio of 26.62, a P/E/G ratio of 3.91 and a beta of 0.61. The stock’s 50 day moving average price is $67.22 and its 200-day moving average price is $66.56. The Coca-Cola Company has a one year low of $57.47 and a one year high of $73.53.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. The firm had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. Coca-Cola’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.74 earnings per share. On average, equities analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.485 per share. The ex-dividend date is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a yield of 3.01%. Coca-Cola’s dividend payout ratio is currently 80.17%.

Analyst Ratings Changes

KO has been the topic of several research analyst reports. Barclays lowered their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Wells Fargo & Company lifted their target price on Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Truist Financial lifted their target price on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $72.36.

Insiders Place Their Bets

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 342,546 shares in the company, valued at $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.97% of the stock is owned by company insiders.

Coca-Cola 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.