CocaCola Company (The) (NYSE:KO) Shares Bought by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund boosted its stake in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 15.3% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 325,067 shares of the company's stock after acquiring an additional 43,249 shares during the period. Illinois Municipal Retirement Fund's holdings in CocaCola were worth $23,281,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Navis Wealth Advisors LLC grew its position in shares of CocaCola by 4.2% during the first quarter. Navis Wealth Advisors LLC now owns 3,594 shares of the company's stock worth $257,000 after buying an additional 146 shares in the last quarter. Peachtree Investment Partners LLC grew its position in shares of CocaCola by 1.4% during the fourth quarter. Peachtree Investment Partners LLC now owns 11,189 shares of the company's stock worth $697,000 after buying an additional 157 shares in the last quarter. Braun Bostich & Associates Inc. grew its position in shares of CocaCola by 3.8% during the first quarter. Braun Bostich & Associates Inc. now owns 4,308 shares of the company's stock worth $309,000 after buying an additional 159 shares in the last quarter. Fort Sheridan Advisors LLC grew its position in shares of CocaCola by 3.3% during the fourth quarter. Fort Sheridan Advisors LLC now owns 4,993 shares of the company's stock worth $311,000 after buying an additional 161 shares in the last quarter. Finally, Excalibur Management Corp lifted its stake in CocaCola by 0.6% during the fourth quarter. Excalibur Management Corp now owns 29,412 shares of the company's stock worth $1,831,000 after purchasing an additional 161 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

KO has been the topic of several research analyst reports. Barclays restated an "overweight" rating on shares of CocaCola in a research note on Thursday, March 27th. Piper Sandler boosted their price target on shares of CocaCola from $73.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Morgan Stanley reissued an "overweight" rating and set a $81.00 price target on shares of CocaCola in a report on Monday, June 9th. JPMorgan Chase & Co. boosted their price target on shares of CocaCola from $74.00 to $78.00 and gave the company an "overweight" rating in a report on Monday, April 21st. Finally, UBS Group boosted their price target on shares of CocaCola from $84.00 to $86.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, CocaCola currently has an average rating of "Buy" and a consensus price target of $76.27.

Insiders Place Their Bets

In other CocaCola news, CEO James Quincey sold 266,403 shares of CocaCola stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the transaction, the chief executive officer now owns 275,946 shares of the company's stock, valued at $19,884,668.76. The trade was a 49.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Beatriz R. Perez sold 60,326 shares of CocaCola stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $71.87, for a total value of $4,335,629.62. Following the transaction, the executive vice president now directly owns 187,716 shares in the company, valued at approximately $13,491,148.92. This trade represents a 24.32% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 415,387 shares of company stock worth $29,923,985. 0.97% of the stock is owned by corporate insiders.

CocaCola Price Performance

Shares of NYSE KO opened at $69.51 on Friday. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The firm's 50-day simple moving average is $71.31 and its 200 day simple moving average is $68.23. The company has a quick ratio of 0.89, a current ratio of 1.10 and a debt-to-equity ratio of 1.57. The stock has a market cap of $299.20 billion, a P/E ratio of 27.80, a P/E/G ratio of 3.65 and a beta of 0.46.

CocaCola (NYSE:KO - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.71 by $0.02. CocaCola had a net margin of 23.00% and a return on equity of 45.49%. The firm had revenue of $11.13 billion for the quarter, compared to analysts' expectations of $11.23 billion. During the same period in the previous year, the business earned $0.72 earnings per share. CocaCola's revenue for the quarter was down .7% compared to the same quarter last year. Equities analysts expect that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend is Friday, June 13th. CocaCola's dividend payout ratio (DPR) is presently 81.60%.

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.

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