State Board of Administration of Florida Retirement System Sells 7,296 Shares of CocaCola Company (The) $KO

State Board of Administration of Florida Retirement System decreased its position in shares of CocaCola Company (The) (NYSE:KO) by 0.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,833,700 shares of the company’s stock after selling 7,296 shares during the period. CocaCola comprises 0.5% of State Board of Administration of Florida Retirement System’s holdings, making the stock its 29th largest holding. State Board of Administration of Florida Retirement System owned approximately 0.09% of CocaCola worth $271,234,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Nuveen LLC bought a new stake in CocaCola during the 1st quarter worth approximately $1,508,657,000. Wellington Management Group LLP raised its position in shares of CocaCola by 52.7% in the 1st quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company’s stock worth $3,398,185,000 after acquiring an additional 16,383,870 shares in the last quarter. Boston Partners bought a new stake in CocaCola in the first quarter worth approximately $642,183,000. Vanguard Group Inc. lifted its position in shares of CocaCola by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 367,441,971 shares of the company’s stock valued at $25,996,519,000 after acquiring an additional 6,241,163 shares during the period. Finally, Laurel Wealth Advisors LLC raised its holdings in shares of CocaCola by 7,239.2% during the second quarter. Laurel Wealth Advisors LLC now owns 6,149,632 shares of the company’s stock valued at $435,086,000 after purchasing an additional 6,065,840 shares during the period. Institutional investors own 70.26% of the company’s stock.

CocaCola Trading Up 0.6%

Shares of CocaCola stock opened at $73.02 on Thursday. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The company has a 50 day simple moving average of $68.77 and a two-hundred day simple moving average of $69.50. The firm has a market cap of $314.11 billion, a PE ratio of 24.18, a PEG ratio of 3.57 and a beta of 0.43. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.21 and a quick ratio of 1.00.

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

CocaCola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Monday, December 1st. CocaCola’s dividend payout ratio (DPR) is presently 67.55%.

Insider Transactions at CocaCola

In other CocaCola news, COO Henrique Braun sold 40,390 shares of the stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $70.93, for a total transaction of $2,864,862.70. Following the completion of the sale, the chief operating officer owned 62,621 shares of the company’s stock, valued at $4,441,707.53. This represents a 39.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Nancy Quan sold 31,625 shares of the stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $71.17, for a total transaction of $2,250,751.25. Following the sale, the executive vice president owned 223,330 shares of the company’s stock, valued at approximately $15,894,396.10. This represents a 12.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 225,252 shares of company stock valued at $15,953,007. 0.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

KO has been the subject of several recent research reports. TD Cowen boosted their price objective on CocaCola from $75.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 22nd. Wells Fargo & Company lifted their target price on shares of CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Weiss Ratings reissued a “buy (b-)” rating on shares of CocaCola in a report on Wednesday, October 8th. UBS Group reduced their price objective on CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, September 11th. Finally, Cowen reiterated a “buy” rating on shares of CocaCola in a research note on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating and sixteen have issued a Buy rating to the company’s stock. According to data from MarketBeat, CocaCola currently has an average rating of “Buy” and an average price target of $78.43.

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.