Illinois Municipal Retirement Fund Sells 14,388 Shares of CocaCola Company (The) $KO

Illinois Municipal Retirement Fund cut its holdings in shares of CocaCola Company (The) (NYSE:KO) by 4.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 310,679 shares of the company’s stock after selling 14,388 shares during the period. Illinois Municipal Retirement Fund’s holdings in CocaCola were worth $21,981,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of KO. 1248 Management LLC bought a new position in shares of CocaCola in the first quarter valued at about $26,000. Caitong International Asset Management Co. Ltd raised its stake in shares of CocaCola by 5,142.9% in the second quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock worth $26,000 after acquiring an additional 360 shares during the last quarter. Ridgewood Investments LLC lifted its position in shares of CocaCola by 148.4% during the first quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock worth $34,000 after purchasing an additional 285 shares in the last quarter. MMA Asset Management LLC acquired a new position in shares of CocaCola during the second quarter worth approximately $34,000. Finally, GFG Capital LLC bought a new stake in shares of CocaCola during the second quarter valued at approximately $34,000. Institutional investors own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Wells Fargo & Company upped their price objective on CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Evercore ISI reiterated an “outperform” rating on shares of CocaCola in a report on Tuesday, October 21st. Barclays reissued an “overweight” rating on shares of CocaCola in a report on Thursday, October 23rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CocaCola in a research note on Wednesday, October 8th. Finally, TD Cowen raised their price objective on shares of CocaCola from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the company’s stock. According to MarketBeat.com, CocaCola has a consensus rating of “Buy” and an average target price of $78.43.

Insider Buying and Selling

In related news, Director Max R. Levchin acquired 7,206 shares of the stock in a transaction dated Friday, October 24th. The stock was bought at an average price of $69.87 per share, with a total value of $503,483.22. Following the completion of the transaction, the director directly owned 14,267 shares of the company’s stock, valued at approximately $996,835.29. The trade was a 102.05% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Monica Howard Douglas sold 13,548 shares of the company’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $69.93, for a total transaction of $947,411.64. Following the completion of the transaction, the executive vice president directly owned 37,725 shares of the company’s stock, valued at approximately $2,638,109.25. The trade was a 26.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.97% of the company’s stock.

CocaCola Trading Up 2.2%

Shares of NYSE KO opened at $70.61 on Monday. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The stock has a market cap of $303.75 billion, a price-to-earnings ratio of 23.38, a P/E/G ratio of 3.57 and a beta of 0.43. The company has a quick ratio of 1.00, a current ratio of 1.21 and a debt-to-equity ratio of 1.30. The company’s fifty day moving average is $67.75 and its 200-day moving average is $69.51.

CocaCola (NYSE:KO) last posted its earnings results on Thursday, March 27th. The company reported $0.55 earnings per share for the quarter. CocaCola had a return on equity of 43.62% and a net margin of 27.34%.The firm had revenue of $11.40 billion for the quarter. Equities research analysts predict that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.9%. The ex-dividend date is Monday, December 1st. CocaCola’s dividend payout ratio (DPR) is 67.55%.

CocaCola Company 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.