Coca-Cola Company (The) $KO Stock: Maryland State Retirement & Pension System Grows Stake

Maryland State Retirement & Pension System boosted its holdings in Coca-Cola Company (The) (NYSE:KO) by 13.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 238,610 shares of the company’s stock after buying an additional 29,083 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Coca-Cola were worth $20,540,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of KO. Bank of America Corp DE grew its stake in shares of Coca-Cola by 4.4% in the second quarter. Bank of America Corp DE now owns 45,958,636 shares of the company’s stock worth $3,735,058,000 after acquiring an additional 1,939,673 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Coca-Cola by 0.4% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 36,354,414 shares of the company’s stock valued at $2,954,523,000 after purchasing an additional 162,097 shares during the last quarter. Wellington Management Group LLP lifted its position in Coca-Cola by 9.2% during the second quarter. Wellington Management Group LLP now owns 29,053,752 shares of the company’s stock valued at $2,361,198,000 after purchasing an additional 2,439,026 shares during the period. Dimensional Fund Advisors LP lifted its position in Coca-Cola by 1.3% during the first quarter. Dimensional Fund Advisors LP now owns 18,822,295 shares of the company’s stock valued at $1,431,495,000 after purchasing an additional 235,785 shares during the period. Finally, Fayez Sarofim & Co lifted its position in Coca-Cola by 0.7% during the second quarter. Fayez Sarofim & Co now owns 15,272,831 shares of the company’s stock valued at $1,241,223,000 after purchasing an additional 113,599 shares during the period. Institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling

In other Coca-Cola news, EVP Nancy Quan sold 50,000 shares of the business’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $90.39, for a total transaction of $4,519,500.00. Following the completion of the sale, the executive vice president owned 223,330 shares of the company’s stock, valued at approximately $20,186,798.70. The trade was a 18.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Bruno Pietracci sold 111,365 shares of the company’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $90.93, for a total value of $10,126,419.45. Following the completion of the sale, the insider owned 41,365 shares of the company’s stock, valued at approximately $3,761,319.45. The trade was a 72.92% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 249,498 shares of company stock valued at $23,025,238. 0.90% of the stock is owned by company insiders.

Coca-Cola Stock Up 0.7%

KO opened at $97.59 on Thursday. The company has a current ratio of 1.38, a quick ratio of 1.19 and a debt-to-equity ratio of 0.93. Coca-Cola Company has a 1-year low of $67.27 and a 1-year high of $97.83. The company has a market capitalization of $419.82 billion, a PE ratio of 28.70, a PEG ratio of 3.78 and a beta of 0.28. The firm’s 50 day simple moving average is $90.45 and its two-hundred day simple moving average is $83.06.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, October 27th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.03. Coca-Cola had a net margin of 28.65% and a return on equity of 38.79%. The business had revenue of $13.35 billion for the quarter, compared to analysts’ expectations of $12.92 billion. During the same quarter last year, the company posted $0.82 EPS. The company’s revenue was up 7.2% compared to the same quarter last year. As a group, equities analysts forecast that Coca-Cola Company will post 3.34 EPS for the current year.

Coca-Cola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, December 1st. Coca-Cola’s dividend payout ratio (DPR) is currently 62.35%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on KO shares. Piper Sandler raised their target price on shares of Coca-Cola from $95.00 to $102.00 and gave the stock an “overweight” rating in a report on Monday, October 26th. JPMorgan Chase & Co. increased their price target on Coca-Cola from $95.00 to $98.00 and gave the company an “overweight” rating in a report on Wednesday, October 28th. Evercore restated an “outperform” rating and issued a $100.00 price target (up from $88.00) on shares of Coca-Cola in a research note on Tuesday, July 28th. Bank of America lifted their price objective on Coca-Cola from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $96.00 price objective on shares of Coca-Cola in a report on Monday, October 26th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $97.26.

Recent Coca-Cola Headlines

Here are a few of the latest headlines about KO:

• Positive Sentiment: Recent commentary highlights momentum in functional beverages, including fairlife, Powerade and smartwater, as well as innovation and capacity expansion that could support growth. Can Coca-Cola Benefit From Rising Demand for Functional Drinks?
• Positive Sentiment: Articles point to KO’s durable business, strong free cash flow and 64-year dividend-growth streak. One recent comparison argues its 2.3% yield is supported by stronger business fundamentals than Kraft Heinz’s higher yield. Kraft Heinz Yields 6.6% and Coca-Cola Yields 2.3%
• Negative Sentiment: KO’s roughly 36% one-year rise has reduced its forward dividend yield to about 2.2%, and commentary cautions that the shares are not cheap. This could limit upside if earnings growth does not keep pace with the stock’s advance. Coca-Cola Stock Is Up 36% in a Year

About Coca-Cola

The Coca-Cola Company (NYSE: KO) is a global beverage company headquartered in Atlanta, Georgia. Founded in 1886, it is best known for Coca-Cola, one of the world’s most recognized soft drink brands. The company owns, licenses, and markets a broad portfolio of beverages, including sparkling soft drinks, water, sports drinks, coffee, tea, juice, dairy and plant-based beverages, and energy drinks. Its brands include Coca-Cola, Diet Coke, Coca-Cola Zero Sugar, Sprite, Fanta, Dasani, smartwater, Powerade, Minute Maid, Simply, fairlife, and Costa Coffee, among others.