CocaCola Company (The) $KO Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lessened its stake in CocaCola Company (The) (NYSE:KO) by 7.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,097,316 shares of the company’s stock after selling 898,730 shares during the period. CocaCola accounts for about 0.5% of California Public Employees Retirement System’s holdings, making the stock its 29th biggest position. California Public Employees Retirement System owned approximately 0.26% of CocaCola worth $785,135,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in KO. 1248 Management LLC purchased a new position in shares of CocaCola in the 1st quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of CocaCola by 5,142.9% during the second quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock worth $26,000 after purchasing an additional 360 shares during the period. GFG Capital LLC purchased a new position in CocaCola in the 2nd quarter valued at $34,000. MMA Asset Management LLC acquired a new position in CocaCola in the 2nd quarter valued at $34,000. Finally, Winnow Wealth LLC acquired a new position in CocaCola in the 2nd quarter valued at $43,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

CocaCola Price Performance

KO stock opened at $69.94 on Friday. The firm has a 50 day moving average of $69.49 and a 200-day moving average of $69.54. The company has a market cap of $300.85 billion, a price-to-earnings ratio of 23.16, a PEG ratio of 3.89 and a beta of 0.39. The company has a current ratio of 1.21, a quick ratio of 1.00 and a debt-to-equity ratio of 1.30. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38.

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

CocaCola Dividend Announcement

The company 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. The ex-dividend date is Monday, December 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.9%. CocaCola’s dividend payout ratio (DPR) is currently 67.55%.

Insider Buying and Selling at CocaCola

In other CocaCola news, COO Henrique Braun sold 40,390 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The shares were 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 in the company, valued at approximately $4,441,707.53. This trade represents a 39.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Max R. Levchin purchased 7,206 shares of CocaCola stock in a transaction on Friday, October 24th. The stock was acquired at an average cost of $69.87 per share, for a total transaction of $503,483.22. Following the acquisition, the director directly owned 14,267 shares of the company’s stock, valued at approximately $996,835.29. This represents a 102.05% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have sold 225,252 shares of company stock worth $15,953,007. Insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on KO. Barclays restated an “overweight” rating on shares of CocaCola in a research note on Thursday, October 23rd. Bank of America raised their price objective on shares of CocaCola from $78.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Evercore ISI reaffirmed an “outperform” rating on shares of CocaCola in a report on Tuesday, October 21st. UBS Group reissued a “buy” rating on shares of CocaCola in a research note on Friday. Finally, Wells Fargo & Company lifted their price target on CocaCola from $75.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $78.43.

About CocaCola

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.