The Coca-Cola Company (NYSE:KO) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund cut its stake in shares of The Coca-Cola Company (NYSE:KO) by 0.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,385,609 shares of the company’s stock after selling 8,404 shares during the period. Coca-Cola makes up 0.4% of New York State Common Retirement Fund’s holdings, making the stock its 29th biggest holding. New York State Common Retirement Fund’s holdings in Coca-Cola were worth $335,308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Hara Capital LLC acquired a new stake in shares of Coca-Cola during the third quarter valued at about $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Coca-Cola in the third quarter valued at approximately $36,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Coca-Cola in the third quarter valued at approximately $43,000. Retirement Wealth Solutions LLC acquired a new position in shares of Coca-Cola in the fourth quarter valued at approximately $37,000. Finally, MilWealth Group LLC acquired a new position in shares of Coca-Cola in the fourth quarter valued at approximately $40,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

KO has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their price objective for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Piper Sandler dropped their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. JPMorgan Chase & Co. dropped their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Royal Bank of Canada reiterated an “outperform” rating and set a $69.00 price target on shares of Coca-Cola in a report on Thursday, February 6th. Finally, Morgan Stanley boosted their price target on shares of Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus price target of $73.82.

Coca-Cola Stock Up 0.2 %

Shares of NYSE:KO opened at $68.99 on Wednesday. The company has a market capitalization of $297.19 billion, a PE ratio of 28.51, a P/E/G ratio of 3.55 and a beta of 0.61. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53. The firm has a 50 day simple moving average of $63.27 and a 200-day simple moving average of $66.36.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.04. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. On average, equities analysts predict that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

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.