The Coca-Cola Company (NYSE:KO) Shares Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D raised its stake in The Coca-Cola Company (NYSE:KO) by 1.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,513,201 shares of the company’s stock after buying an additional 17,771 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Coca-Cola were worth $108,739,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of KO. River Global Investors LLP boosted its stake in shares of Coca-Cola by 3.9% during the third quarter. River Global Investors LLP now owns 42,255 shares of the company’s stock valued at $3,036,000 after acquiring an additional 1,568 shares during the last quarter. Sanctuary Wealth Management L.L.C. boosted its position in Coca-Cola by 177.7% during the third quarter. Sanctuary Wealth Management L.L.C. now owns 2,796 shares of the company’s stock worth $201,000 after acquiring an additional 1,789 shares during the last quarter. Tyler Stone Wealth Management lifted its stake in shares of Coca-Cola by 113.1% during the 3rd quarter. Tyler Stone Wealth Management now owns 4,849 shares of the company’s stock worth $348,000 after purchasing an additional 2,574 shares during the period. Baker Avenue Asset Management LP boosted its holdings in shares of Coca-Cola by 150.4% during the third quarter. Baker Avenue Asset Management LP now owns 9,534 shares of the company’s stock worth $685,000 after purchasing an additional 5,727 shares during the last quarter. Finally, Arrow Financial Corp increased its stake in Coca-Cola by 2.9% in the third quarter. Arrow Financial Corp now owns 32,002 shares of the company’s stock valued at $2,300,000 after purchasing an additional 906 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Performance

KO stock traded up $0.26 during trading on Friday, hitting $63.92. 14,719,308 shares of the company’s stock traded hands, compared to its average volume of 13,338,074. The stock has a fifty day moving average price of $69.56 and a two-hundred day moving average price of $66.48. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The Coca-Cola Company has a 52 week low of $56.06 and a 52 week high of $73.53. The stock has a market capitalization of $275.35 billion, a price-to-earnings ratio of 26.41, a price-to-earnings-growth ratio of 3.87 and a beta of 0.61.

Coca-Cola (NYSE:KO) last issued its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. The company had revenue of $11.85 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.74 earnings per share. As a group, equities analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a $0.485 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.04%. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was 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 owns 223,330 shares in the company, valued at approximately $15,968,095. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO James Quincey sold 42,397 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $70.02, for a total transaction of $2,968,637.94. Following the completion of the transaction, the chief executive officer now owns 442,546 shares in the company, valued at approximately $30,987,070.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Nancy Quan sold 18,484 shares of the stock in a transaction on 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 sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $15,968,095. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 203,748 shares of company stock valued at $14,274,431 in the last ninety days. Company insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Wells Fargo & Company lifted their price target on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, September 16th. StockNews.com lowered shares of Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Royal Bank of Canada lifted their target price on Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. TD Cowen raised their price objective on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Finally, Barclays reduced their price target on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $71.80.

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.