Police & Firemen s Retirement System of New Jersey Grows Stock Holdings in CocaCola Company (The) $KO

Police & Firemen s Retirement System of New Jersey boosted its holdings in CocaCola Company (The) (NYSE:KO) by 4.5% during the second quarter, Holdings Channel reports. The institutional investor owned 590,456 shares of the company’s stock after buying an additional 25,578 shares during the period. Police & Firemen s Retirement System of New Jersey’s holdings in CocaCola were worth $41,775,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. 1248 Management LLC purchased a new stake in shares of CocaCola during the 1st quarter valued at $26,000. Caitong International Asset Management Co. Ltd grew its position in CocaCola by 5,142.9% in the second quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock valued at $26,000 after acquiring an additional 360 shares in the last quarter. Ridgewood Investments LLC increased its stake in CocaCola by 148.4% during the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock worth $34,000 after buying an additional 285 shares during the period. MMA Asset Management LLC purchased a new stake in shares of CocaCola during the second quarter worth about $34,000. Finally, GFG Capital LLC acquired a new position in shares of CocaCola in the 2nd quarter valued at approximately $34,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Monica Howard Douglas sold 13,548 shares of the company’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $69.93, for a total value of $947,411.64. Following the completion of the sale, the executive vice president owned 37,725 shares of the company’s stock, valued at $2,638,109.25. This represents a 26.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Max R. Levchin acquired 7,206 shares of the firm’s stock in a transaction dated Friday, October 24th. The stock was bought at an average price of $69.87 per share, with a total value of $503,483.22. Following the completion of the acquisition, the director directly owned 14,267 shares of the company’s stock, valued at approximately $996,835.29. This represents a 102.05% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on KO shares. TD Cowen upped their target price on shares of CocaCola from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd. BNP Paribas restated an “outperform” rating and set a $83.00 price objective on shares of CocaCola in a research note on Monday, July 21st. Evercore ISI reiterated an “outperform” rating on shares of CocaCola in a research report on Tuesday, October 21st. JPMorgan Chase & Co. boosted their price target on CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. Finally, Wells Fargo & Company raised their price objective on CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating and sixteen have assigned a Buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $78.43.

CocaCola Price Performance

Shares of NYSE:KO opened at $71.57 on Thursday. The firm’s 50 day moving average is $67.89 and its two-hundred day moving average is $69.50. The firm has a market capitalization of $307.87 billion, a P/E ratio of 23.70, a PEG ratio of 3.57 and a beta of 0.43. The company has a current ratio of 1.21, a quick ratio of 1.00 and a debt-to-equity ratio of 1.30. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38.

CocaCola (NYSE:KO) last issued its quarterly earnings data on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. CocaCola had a return on equity of 43.62% and a net margin of 27.34%.The business had revenue of $11.40 billion during the quarter. Analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Monday, December 1st. CocaCola’s payout ratio is currently 67.55%.

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.