New York State Teachers Retirement System Has $220.10 Million Stake in CocaCola Company (The) (NYSE:KO)

New York State Teachers Retirement System decreased its position in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 2.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,073,168 shares of the company's stock after selling 89,844 shares during the quarter. CocaCola makes up approximately 0.5% of New York State Teachers Retirement System's portfolio, making the stock its 27th biggest position. New York State Teachers Retirement System owned 0.07% of CocaCola worth $220,100,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of KO. Sage Financial Management Group Inc. bought a new position in CocaCola during the 1st quarter worth $216,000. Voleon Capital Management LP bought a new position in CocaCola during the 4th quarter worth $2,513,000. Cornerstone Wealth Management LLC raised its position in CocaCola by 3.3% during the 1st 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 during the last quarter. Clark Capital Management Group Inc. raised its position in CocaCola by 31.8% during the 4th quarter. Clark Capital Management Group Inc. now owns 848,868 shares of the company's stock worth $52,851,000 after purchasing an additional 204,681 shares during the last quarter. Finally, StoneX Group Inc. raised its position in CocaCola by 80.0% during the 4th quarter. StoneX Group Inc. now owns 51,775 shares of the company's stock worth $3,224,000 after purchasing an additional 23,009 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

Wall Street Analyst Weigh In

KO has been the subject of several research analyst reports. Royal Bank Of Canada lifted their price objective on CocaCola from $73.00 to $76.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. UBS Group lifted their price objective on CocaCola from $84.00 to $86.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Barclays reissued an "overweight" rating on shares of CocaCola in a research report on Thursday, March 27th. 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. Finally, Cfra Research raised CocaCola to a "strong-buy" rating in a research report on Tuesday, April 15th. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $76.27.

CocaCola Stock Performance

Shares of CocaCola stock opened at $70.42 on Monday. CocaCola Company has a one year low of $60.62 and a one year high of $74.38. The firm has a market capitalization of $303.11 billion, a price-to-earnings ratio of 28.17, a PEG ratio of 3.69 and a beta of 0.46. The business has a 50-day simple moving average of $71.25 and a 200 day simple moving average of $68.35. 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 issued its earnings results on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, beating analysts' consensus estimates of $0.71 by $0.02. The business had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.23 billion. CocaCola had a return on equity of 45.49% and a net margin of 23.00%. The firm's revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.72 EPS. On average, research analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a yield of 2.90%. CocaCola's dividend payout ratio (DPR) is currently 81.60%.

Insider Buying and Selling at CocaCola

In other CocaCola news, EVP Beatriz R. Perez sold 60,326 shares of CocaCola stock in a transaction dated Thursday, May 8th. The stock was 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 now owns 187,716 shares in the company, valued at approximately $13,491,148.92. The trade was a 24.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James Quincey sold 266,403 shares of CocaCola stock in a transaction dated 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 now owns 275,946 shares of the company's stock, valued at $19,884,668.76. This trade represents a 49.12% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 415,387 shares of company stock worth $29,923,985. Insiders own 0.90% of the company's stock.

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.

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