The Coca-Cola Company (NYSE:KO) Shares Acquired by California Public Employees Retirement System

California Public Employees Retirement System raised its stake in shares of The Coca-Cola Company (NYSE:KO) by 2.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,702,286 shares of the company’s stock after purchasing an additional 321,276 shares during the period. California Public Employees Retirement System’s holdings in Coca-Cola were worth $728,584,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of KO. Crowley Wealth Management Inc. acquired a new stake in shares of Coca-Cola during the 4th quarter worth $27,000. Mainstream Capital Management LLC acquired a new stake in Coca-Cola during the 4th quarter worth approximately $31,000. Retirement Wealth Solutions LLC purchased a new position in Coca-Cola in the fourth quarter valued at approximately $37,000. Murphy & Mullick Capital Management Corp purchased a new stake in Coca-Cola during the fourth quarter worth approximately $38,000. Finally, MilWealth Group LLC acquired a new stake in shares of Coca-Cola in the fourth quarter worth $40,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Activity at Coca-Cola

In related news, EVP Lisa Chang sold 13,445 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $71.50, for a total transaction of $961,317.50. Following the transaction, the executive vice president now owns 94,676 shares in the company, valued at $6,769,334. This trade represents a 12.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James Quincey sold 145,435 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total value of $10,327,339.35. Following the completion of the sale, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $24,324,191.46. This trade represents a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 313,423 shares of company stock worth $22,263,071 over the last ninety days. 0.97% of the stock is currently owned by corporate insiders.

Coca-Cola Stock Down 0.5 %

KO stock opened at $70.36 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The firm’s 50-day simple moving average is $67.77 and its 200 day simple moving average is $66.41. The stock has a market cap of $302.80 billion, a PE ratio of 28.49, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57. The Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. As a group, sell-side analysts predict that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.90%. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Friday, March 14th. Coca-Cola’s dividend payout ratio (DPR) is 82.59%.

Analyst Ratings Changes

KO has been the subject of a number of research reports. Piper Sandler upped their price target on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. UBS Group boosted their target price on shares of Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. cut their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Royal Bank of Canada restated an “outperform” rating and set a $69.00 price objective on shares of Coca-Cola in a research note on Thursday, February 6th. Finally, DZ Bank 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 Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $74.24.

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.