State Board of Administration of Florida Retirement System decreased its position in The Coca-Cola Co (NYSE:KO) by 0.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 5,221,979 shares of the company’s stock after selling 22,090 shares during the period. The Coca-Cola accounts for 0.6% of State Board of Administration of Florida Retirement System’s holdings, making the stock its 27th biggest holding. State Board of Administration of Florida Retirement System’s holdings in The Coca-Cola were worth $241,203,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of KO. State of Alaska Department of Revenue boosted its stake in shares of The Coca-Cola by 0.9% during the 3rd quarter. State of Alaska Department of Revenue now owns 560,169 shares of the company’s stock valued at $25,871,000 after buying an additional 4,973 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in shares of The Coca-Cola by 1.1% during the 2nd quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 233,378 shares of the company’s stock valued at $10,236,000 after buying an additional 2,600 shares during the last quarter. HPM Partners LLC boosted its stake in shares of The Coca-Cola by 3.0% during the 2nd quarter. HPM Partners LLC now owns 100,292 shares of the company’s stock valued at $4,399,000 after buying an additional 2,931 shares during the last quarter. First Command Financial Services Inc. boosted its stake in shares of The Coca-Cola by 73.2% during the 3rd quarter. First Command Financial Services Inc. now owns 19,124 shares of the company’s stock valued at $883,000 after buying an additional 8,084 shares during the last quarter. Finally, Baldwin Investment Management LLC purchased a new position in shares of The Coca-Cola during the 2nd quarter valued at approximately $272,000. 65.45% of the stock is owned by institutional investors.
KO stock opened at $48.69 on Tuesday. The company has a current ratio of 1.06, a quick ratio of 0.98 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $204.76 billion, a price-to-earnings ratio of 25.49, a P/E/G ratio of 3.14 and a beta of 0.60. The Coca-Cola Co has a 1 year low of $41.45 and a 1 year high of $48.78.
The Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, October 30th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.03. The company had revenue of $8.25 billion for the quarter, compared to analysts’ expectations of $8.20 billion. The Coca-Cola had a return on equity of 43.12% and a net margin of 8.70%. The firm’s quarterly revenue was down 9.2% compared to the same quarter last year. During the same period last year, the business posted $0.50 earnings per share. As a group, analysts predict that The Coca-Cola Co will post 2.08 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date is Thursday, November 29th. The Coca-Cola’s payout ratio is 81.68%.
Several equities analysts have recently commented on KO shares. Jefferies Financial Group reiterated a “neutral” rating and set a $45.00 target price on shares of The Coca-Cola in a research note on Tuesday, July 10th. Macquarie set a $47.00 price objective on The Coca-Cola and gave the stock a “neutral” rating in a research note on Wednesday, July 11th. Stifel Nicolaus restated a “neutral” rating and set a $49.00 price objective on shares of The Coca-Cola in a research note on Monday, July 16th. JPMorgan Chase & Co. restated a “$45.12” rating and set a $49.00 price objective on shares of The Coca-Cola in a research note on Wednesday, July 18th. Finally, TheStreet upgraded The Coca-Cola from a “c+” rating to a “b-” rating in a research note on Tuesday, July 17th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and thirteen have assigned a buy rating to the stock. The Coca-Cola has a consensus rating of “Hold” and a consensus target price of $51.22.
In other The Coca-Cola news, SVP Beatriz R. Perez sold 10,000 shares of the firm’s stock in a transaction on Wednesday, October 31st. The stock was sold at an average price of $47.98, for a total value of $479,800.00. Following the sale, the senior vice president now directly owns 92,645 shares in the company, valued at $4,445,107.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian John Smith sold 43,000 shares of the firm’s stock in a transaction on Wednesday, October 31st. The shares were sold at an average price of $48.00, for a total value of $2,064,000.00. Following the completion of the sale, the insider now owns 123,908 shares in the company, valued at $5,947,584. The disclosure for this sale can be found here. Insiders sold 61,754 shares of company stock worth $2,954,800 over the last quarter. 1.48% of the stock is currently owned by company insiders.
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The Coca-Cola Company Profile
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides water, enhanced water, and sports drinks; juices; juice, dairy, and plantbased beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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