CocaCola Company (The) $KO Shares Sold by Public Employees Retirement System of Ohio

Key Points

• Public Employees Retirement System of Ohio reduced its stake in CocaCola by 0.8%, now holding approximately 1.59 million shares worth around $112.5 million as of the latest SEC filing.
• CocaCola recently announced a quarterly dividend of $0.51 per share, translating to an annualized yield of 3.1%, with an ex-dividend date set for September 15th.
• Wall Street analysts maintain a positive outlook for CocaCola, with price targets ranging from $76 to $83 and an average rating of "Buy".

Public Employees Retirement System of Ohio trimmed its holdings in CocaCola Company (The) (NYSE:KO - Free Report) by 0.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,590,104 shares of the company's stock after selling 13,377 shares during the quarter. Public Employees Retirement System of Ohio's holdings in CocaCola were worth $112,500,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Sage Financial Management Group Inc. purchased a new stake in CocaCola during the 1st quarter valued at about $216,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of CocaCola by 6.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 30,889,415 shares of the company's stock valued at $2,212,300,000 after buying an additional 1,794,561 shares during the period. Cornerstone Wealth Management LLC lifted its position in shares of CocaCola by 3.3% during the first quarter. Cornerstone Wealth Management LLC now owns 121,279 shares of the company's stock worth $8,686,000 after purchasing an additional 3,920 shares in the last quarter. IFM Investors Pty Ltd increased its position in shares of CocaCola by 0.5% during the first quarter. IFM Investors Pty Ltd now owns 762,841 shares of the company's stock worth $54,635,000 after acquiring an additional 3,837 shares during the period. Finally, Advisors Capital Management LLC raised its holdings in CocaCola by 37.7% in the first quarter. Advisors Capital Management LLC now owns 471,034 shares of the company's stock valued at $33,735,000 after acquiring an additional 128,852 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Nikolaos Koumettis sold 37,396 shares of the business's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total transaction of $2,584,063.60. Following the transaction, the insider owned 209,513 shares in the company, valued at $14,477,348.30. The trade was a 15.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Royal Bank Of Canada set a $76.00 price objective on CocaCola and gave the stock an "outperform" rating in a report on Monday, July 21st. JPMorgan Chase & Co. upped their price target on CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. BNP Paribas reiterated an "outperform" rating and set a $83.00 target price on shares of CocaCola in a report on Monday, July 21st. UBS Group dropped their target price on CocaCola from $84.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, September 11th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $81.00 price objective on shares of CocaCola in a research report on Monday, June 9th. Two research analysts have rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $76.93.

CocaCola Trading Up 0.8%

Shares of NYSE:KO opened at $66.71 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38. The firm has a market cap of $287.08 billion, a price-to-earnings ratio of 23.66, a PEG ratio of 3.45 and a beta of 0.43. The company's fifty day simple moving average is $68.81 and its 200 day simple moving average is $70.15.

CocaCola (NYSE:KO - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.83 by $0.04. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The business had revenue of $12.50 billion during the quarter, compared to the consensus estimate of $12.55 billion. During the same quarter in the previous year, the firm posted $0.84 EPS. CocaCola's revenue was up 2.5% compared to the same quarter last year. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. As a group, research analysts forecast that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a yield of 3.1%. CocaCola's dividend payout ratio is 72.34%.

About CocaCola

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.