The Coca-Cola Company (NYSE:KO) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lowered its position in shares of The Coca-Cola Company (NYSE:KO) by 5.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 234,279 shares of the company’s stock after selling 12,550 shares during the period. Illinois Municipal Retirement Fund’s holdings in Coca-Cola were worth $14,912,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. New Millennium Group LLC acquired a new stake in shares of Coca-Cola during the 2nd quarter worth approximately $26,000. Tidemark LLC acquired a new stake in shares of Coca-Cola during the 4th quarter worth approximately $26,000. ESL Trust Services LLC acquired a new stake in shares of Coca-Cola during the 1st quarter worth approximately $28,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Coca-Cola during the 1st quarter worth approximately $28,000. Finally, Private Wealth Management Group LLC acquired a new stake in shares of Coca-Cola during the 4th quarter worth approximately $27,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Buying and Selling

In related news, EVP Nancy Quan sold 18,484 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $15,968,095. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $15,968,095. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Nikolaos Koumettis sold 80,891 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $62.34, for a total transaction of $5,042,744.94. Following the completion of the transaction, the insider now directly owns 218,880 shares of the company’s stock, valued at $13,644,979.20. The disclosure for this sale can be found here. Insiders sold 1,074,910 shares of company stock valued at $585,972,318 over the last ninety days. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

Shares of KO traded down $0.03 during mid-day trading on Friday, hitting $71.14. 17,485,707 shares of the company’s stock were exchanged, compared to its average volume of 13,186,163. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $73.53. The firm has a market capitalization of $306.47 billion, a P/E ratio of 28.46, a P/E/G ratio of 4.05 and a beta of 0.60. The business’s 50 day moving average is $67.48 and its two-hundred day moving average is $63.54. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.03. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The business had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.78 billion. During the same quarter in the prior year, the firm earned $0.78 earnings per share. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, equities analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a dividend of $0.485 per share. The ex-dividend date is Friday, September 13th. This represents a $1.94 annualized dividend and a yield of 2.73%. Coca-Cola’s dividend payout ratio is currently 77.60%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Citigroup lifted their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Argus boosted their price target on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Cfra restated a “hold” rating on shares of Coca-Cola in a research note on Thursday. Finally, Royal Bank of Canada boosted their target price on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $70.73.

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.