New Mexico Educational Retirement Board Has $12.98 Million Position in CocaCola Company (The) (NYSE:KO)

New Mexico Educational Retirement Board lowered its position in CocaCola Company (The) (NYSE:KO - Free Report) by 2.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 181,220 shares of the company's stock after selling 3,700 shares during the quarter. CocaCola comprises approximately 0.5% of New Mexico Educational Retirement Board's investment portfolio, making the stock its 26th biggest holding. New Mexico Educational Retirement Board's holdings in CocaCola were worth $12,979,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Rehmann Capital Advisory Group grew its position in CocaCola by 4.5% in the first quarter. Rehmann Capital Advisory Group now owns 32,591 shares of the company's stock worth $2,334,000 after buying an additional 1,397 shares during the last quarter. Cornerstone Planning Group LLC grew its position in CocaCola by 45.2% during the 1st quarter. Cornerstone Planning Group LLC now owns 2,680 shares of the company's stock worth $196,000 after purchasing an additional 834 shares in the last quarter. Aspen Wealth Strategies LLC acquired a new position in shares of CocaCola in the first quarter worth $215,000. Dogwood Wealth Management LLC increased its position in CocaCola by 34.1% in the 1st quarter. Dogwood Wealth Management LLC now owns 952 shares of the company's stock worth $69,000 after purchasing an additional 242 shares during the last quarter. Finally, Principal Securities Inc. increased its position in CocaCola by 0.3% in the 1st quarter. Principal Securities Inc. now owns 106,496 shares of the company's stock worth $7,627,000 after purchasing an additional 370 shares during the last quarter. Institutional investors own 70.26% of the company's stock.

Insider Activity

In other news, EVP Beatriz R. Perez sold 60,326 shares of the company's 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 sale, the executive vice president directly owned 187,716 shares of the company's stock, valued at approximately $13,491,148.92. This represents a 24.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO John Murphy sold 88,658 shares of CocaCola stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total value of $6,391,355.22. Following the transaction, the chief financial officer owned 205,511 shares of the company's stock, valued at $14,815,287.99. This represents a 30.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 415,387 shares of company stock worth $29,923,985 in the last quarter. Corporate insiders own 0.90% of the company's stock.

CocaCola Trading Down 1.0%

Shares of NYSE KO traded down $0.71 during midday trading on Wednesday, hitting $69.53. The stock had a trading volume of 33,690,781 shares, compared to its average volume of 16,278,755. The company's 50-day simple moving average is $71.02 and its 200 day simple moving average is $68.71. The firm has a market cap of $299.28 billion, a P/E ratio of 27.81, a price-to-earnings-growth ratio of 3.72 and a beta of 0.45. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.10 and a quick ratio of 0.89.

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

CocaCola Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were paid a dividend of $0.51 per share. The ex-dividend date was Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.93%. CocaCola's dividend payout ratio is 81.60%.

Analyst Ratings Changes

Several analysts have recently issued reports on KO shares. UBS Group upped their price target on CocaCola from $84.00 to $86.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. JPMorgan Chase & Co. increased their target price on shares of CocaCola from $74.00 to $78.00 and gave the company an "overweight" rating in a research note on Monday, April 21st. Cfra Research raised shares of CocaCola to a "strong-buy" rating in a report on Tuesday, April 15th. Royal Bank Of Canada raised their price objective on shares of CocaCola from $73.00 to $76.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $81.00 target price on shares of CocaCola in a report on Monday, June 9th. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $76.27.

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.