The Coca-Cola Company (NYSE:KO) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama decreased its holdings in shares of The Coca-Cola Company (NYSE:KO) by 1.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,360,356 shares of the company’s stock after selling 22,442 shares during the quarter. Retirement Systems of Alabama’s holdings in Coca-Cola were worth $80,166,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Enterprise Bank & Trust Co lifted its stake in Coca-Cola by 3.4% in the 4th quarter. Enterprise Bank & Trust Co now owns 5,021 shares of the company’s stock valued at $296,000 after buying an additional 167 shares in the last quarter. Elk River Wealth Management LLC lifted its stake in shares of Coca-Cola by 1.6% during the 4th quarter. Elk River Wealth Management LLC now owns 10,838 shares of the company’s stock worth $639,000 after purchasing an additional 170 shares during the period. KRS Capital Management LLC lifted its stake in shares of Coca-Cola by 3.8% during the 4th quarter. KRS Capital Management LLC now owns 4,645 shares of the company’s stock worth $274,000 after purchasing an additional 170 shares during the period. Wayfinding Financial LLC lifted its stake in shares of Coca-Cola by 1.8% during the 4th quarter. Wayfinding Financial LLC now owns 9,734 shares of the company’s stock worth $573,000 after purchasing an additional 175 shares during the period. Finally, John G Ullman & Associates Inc. lifted its stake in shares of Coca-Cola by 2.2% during the 4th quarter. John G Ullman & Associates Inc. now owns 8,081 shares of the company’s stock worth $476,000 after purchasing an additional 175 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Price Performance

NYSE KO remained flat at $61.74 during trading hours on Friday. The company had a trading volume of 10,994,262 shares, compared to its average volume of 12,842,353. The Coca-Cola Company has a 52-week low of $51.55 and a 52-week high of $64.69. The stock has a market cap of $266.17 billion, a P/E ratio of 24.90, a price-to-earnings-growth ratio of 3.53 and a beta of 0.59. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.13 and a quick ratio of 0.95. The business’s fifty day moving average is $60.12 and its 200 day moving average is $58.85.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.01. The firm had revenue of $10.80 billion during the quarter, compared to the consensus estimate of $10.68 billion. Coca-Cola had a return on equity of 42.50% and a net margin of 23.42%. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.45 EPS. On average, equities analysts anticipate that The Coca-Cola Company will post 2.81 EPS for the current year.

Coca-Cola Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were issued a dividend of $0.485 per share. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.46. This represents a $1.94 annualized dividend and a yield of 3.14%. The ex-dividend date was Thursday, March 14th. Coca-Cola’s dividend payout ratio (DPR) is currently 78.23%.

Insider Transactions at Coca-Cola

In other news, EVP Nancy Quan sold 57,368 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total value of $3,491,990.16. Following the completion of the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $13,594,097.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Bruno Pietracci sold 18,551 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $59.41, for a total transaction of $1,102,114.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Nancy Quan sold 57,368 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total transaction of $3,491,990.16. Following the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $13,594,097.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 375,407 shares of company stock valued at $22,795,742. Insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on KO shares. JPMorgan Chase & Co. reduced their price target on Coca-Cola from $66.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday, April 19th. Citigroup increased their price target on Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Finally, Barclays increased their price target on Coca-Cola from $66.00 to $68.00 and gave the stock an “overweight” rating in a research note on Friday, April 12th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $67.22.

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.