VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in CocaCola Company (The) $KO

Key Points

• Virginia Retirement Systems has acquired a new stake in Coca-Cola, purchasing 317,209 shares valued at approximately $22.4 million.
• Insider Nikolaos Koumettis sold 37,396 shares at an average price of $69.10, reducing his ownership by 15.15%.
• Coca-Cola has a current consensus rating of "Buy" with a target price of $76.69, while recently reporting a Q1 EPS of $0.55.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of CocaCola Company (The) (NYSE:KO - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 317,209 shares of the company's stock, valued at approximately $22,443,000.

A number of other institutional investors also recently bought and sold shares of KO. Brighton Jones LLC lifted its holdings in CocaCola by 13.3% during the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company's stock worth $2,433,000 after buying an additional 4,591 shares during the last quarter. Revolve Wealth Partners LLC increased its position in shares of CocaCola by 3.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company's stock worth $548,000 after purchasing an additional 293 shares in the last quarter. GAMMA Investing LLC increased its position in shares of CocaCola by 19.0% during the first quarter. GAMMA Investing LLC now owns 83,231 shares of the company's stock worth $5,961,000 after purchasing an additional 13,261 shares in the last quarter. Advisor Resource Council acquired a new stake in shares of CocaCola during the first quarter worth about $798,000. Finally, Garde Capital Inc. acquired a new stake in shares of CocaCola during the first quarter worth about $30,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total value of $2,584,063.60. Following the sale, the insider owned 209,513 shares of the company's stock, valued at approximately $14,477,348.30. The trade was a 15.15% 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. Corporate insiders own 0.90% of the company's stock.

Wall Street Analyst Weigh In

KO has been the topic of a number of research analyst reports. Weiss Ratings reiterated a "buy (b-)" rating on shares of CocaCola in a research report on Wednesday, October 8th. Royal Bank Of Canada set a $76.00 target price on CocaCola and gave the stock an "outperform" rating in a research report on Monday, July 21st. UBS Group cut their target price on CocaCola from $84.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, September 11th. BNP Paribas reiterated an "outperform" rating and set a $83.00 target price on shares of CocaCola in a research report on Monday, July 21st. Finally, Wells Fargo & Company cut their target price on CocaCola from $78.00 to $75.00 and set an "overweight" rating on the stock in a research report on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $76.69.

CocaCola Stock Performance

Shares of KO stock opened at $68.45 on Monday. The stock has a market capitalization of $294.60 billion, a PE ratio of 24.27, a price-to-earnings-growth ratio of 3.57 and a beta of 0.43. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The stock's 50-day moving average price is $67.84 and its 200 day moving average price is $69.69. 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 (NYSE:KO - Get Free Report) last issued its quarterly earnings results on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. The firm had revenue of $11.40 billion for the quarter. CocaCola had a return on equity of 44.91% and a net margin of 25.89%. As a group, equities research analysts forecast that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Monday, December 1st. CocaCola's payout ratio is currently 72.34%.

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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