New York State Common Retirement Fund Has $387.61 Million Holdings in The Coca-Cola Company (NYSE:KO)

New York State Common Retirement Fund reduced its position in The Coca-Cola Company (NYSE:KO) by 5.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,394,013 shares of the company’s stock after selling 319,320 shares during the period. Coca-Cola comprises approximately 0.5% of New York State Common Retirement Fund’s holdings, making the stock its 27th largest position. New York State Common Retirement Fund owned approximately 0.13% of Coca-Cola worth $387,614,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in KO. Price T Rowe Associates Inc. MD increased its stake in Coca-Cola by 21.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock valued at $3,016,023,000 after buying an additional 8,733,326 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Coca-Cola by 30.5% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,698,984 shares of the company’s stock valued at $776,924,000 after acquiring an additional 2,964,850 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of Coca-Cola in the second quarter worth $188,448,000. M&G Plc purchased a new stake in shares of Coca-Cola during the first quarter worth $157,087,000. Finally, Pathway Financial Advisers LLC boosted its position in Coca-Cola by 7,006.8% during the third quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company’s stock valued at $178,104,000 after purchasing an additional 2,443,612 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Stock Down 0.0 %

Shares of NYSE KO traded down $0.02 during midday trading on Friday, reaching $65.29. The company’s stock had a trading volume of 917,862 shares, compared to its average volume of 13,203,577. The stock has a 50 day simple moving average of $70.39 and a 200-day simple moving average of $66.21. The Coca-Cola Company has a fifty-two week low of $56.06 and a fifty-two week high of $73.53. 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 stock has a market capitalization of $281.26 billion, a price-to-earnings ratio of 26.99, a PEG ratio of 4.00 and a beta of 0.60.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The firm had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The company’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.74 earnings per share. Equities research analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a $0.485 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.94 annualized dividend and a dividend yield of 2.97%. Coca-Cola’s payout ratio is 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 that occurred on 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 sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $15,968,095. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,968,095. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James Quincey sold 42,397 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now owns 442,546 shares in the company, valued at $30,987,070.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 261,870 shares of company stock worth $18,256,369 over the last 90 days. Insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on KO shares. JPMorgan Chase & Co. lifted their price target on Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Bank of America upped their price objective on shares of Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Morgan Stanley lowered their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Truist Financial lifted their price objective on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Royal Bank of Canada upped their price target on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus price target of $71.80.

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.