CocaCola Company (The) (NYSE:KO) Shares Sold by New Mexico Educational Retirement Board

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

Other large investors have also recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC purchased a new position in CocaCola during the first quarter worth about $25,000. Garde Capital Inc. purchased a new position in CocaCola in the first quarter valued at about $30,000. Crowley Wealth Management Inc. purchased a new position in CocaCola in the fourth quarter valued at about $27,000. Mizuho Securities Co. Ltd. increased its holdings in CocaCola by 360.0% in the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock valued at $33,000 after buying an additional 360 shares in the last quarter. Finally, Moser Wealth Advisors LLC increased its holdings in CocaCola by 449.5% in the first quarter. Moser Wealth Advisors LLC now owns 500 shares of the company's stock valued at $36,000 after buying an additional 409 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on KO shares. 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 report on Monday, April 21st. UBS Group increased their target price on shares of CocaCola from $84.00 to $86.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Morgan Stanley reaffirmed an "overweight" rating and issued a $81.00 target price on shares of CocaCola in a report on Monday, June 9th. Royal Bank Of Canada increased their target price on shares of CocaCola from $73.00 to $76.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Finally, Cfra Research raised shares of CocaCola to a "strong-buy" rating in a report on Tuesday, April 15th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $76.71.

Insiders Place Their Bets

In other CocaCola news, CEO James Quincey sold 266,403 shares of CocaCola stock in a transaction on Friday, May 30th. The shares were sold at an average price of $72.06, for a total value of $19,197,000.18. Following the transaction, the chief executive officer owned 275,946 shares in the company, valued at $19,884,668.76. This trade represents a 49.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Beatriz R. Perez sold 60,326 shares of CocaCola stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the completion of the transaction, the executive vice president owned 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. In the last three months, insiders sold 415,387 shares of company stock valued at $29,923,985. Company insiders own 0.97% of the company's stock.

CocaCola Trading Up 0.2%

KO stock traded up $0.12 during midday trading on Friday, hitting $69.89. The stock had a trading volume of 12,910,766 shares, compared to its average volume of 16,309,945. The firm has a market cap of $300.83 billion, a PE ratio of 27.96, a price-to-earnings-growth ratio of 3.66 and a beta of 0.45. 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 Company has a 12-month low of $60.62 and a 12-month high of $74.38. The company's 50-day moving average price is $70.90 and its 200 day moving average price is $68.82.

CocaCola (NYSE:KO - Get Free Report) last released its 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. The firm had revenue of $11.13 billion during the quarter, compared to analysts' expectations of $11.23 billion. CocaCola had a net margin of 23.00% and a return on equity of 45.49%. CocaCola's revenue for the quarter was down .7% on a year-over-year basis. During the same period in the previous year, the company earned $0.72 EPS. On average, equities research analysts predict that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were paid a $0.51 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $2.04 annualized dividend and a yield of 2.92%. CocaCola's payout ratio is currently 81.60%.

CocaCola 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.