The Coca-Cola Company (NYSE:KO) Shares Acquired by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund increased its position in The Coca-Cola Company (NYSE:KO) by 23.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 281,818 shares of the company’s stock after acquiring an additional 53,385 shares during the period. Illinois Municipal Retirement Fund’s holdings in Coca-Cola were worth $17,546,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Hara Capital LLC acquired a new stake in shares of Coca-Cola in the 3rd quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in Coca-Cola during the 3rd quarter valued at about $36,000. MidAtlantic Capital Management Inc. acquired a new position in Coca-Cola during the 3rd quarter valued at about $43,000. Retirement Wealth Solutions LLC acquired a new position in Coca-Cola during the 4th quarter valued at about $37,000. Finally, MilWealth Group LLC acquired a new position in Coca-Cola during the 4th quarter valued at about $40,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Stock Performance

Shares of KO opened at $70.58 on Tuesday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The company has a market capitalization of $304.04 billion, a PE ratio of 28.57, a PEG ratio of 3.79 and a beta of 0.61. The company’s 50 day moving average price is $63.87 and its 200 day moving average price is $66.42. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. Research analysts expect that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $0.51 dividend. The ex-dividend date is Friday, March 14th. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 dividend on an annualized basis and a yield of 2.89%. Coca-Cola’s payout ratio is 78.54%.

Wall Street Analysts Forecast Growth

KO has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their target price for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their target price for the company from $69.00 to $75.00 in a research note on Thursday, January 30th. Wells Fargo & Company raised their target price on shares of Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Royal Bank of Canada reissued an “outperform” rating and set a $69.00 target price on shares of Coca-Cola in a research note on Thursday, February 6th. Finally, Barclays raised their price objective on shares of Coca-Cola from $66.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Coca-Cola currently has an average rating of “Moderate Buy” and an average target price of $73.82.

Coca-Cola 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.