State of New Jersey Common Pension Fund D Increases Holdings in The Coca-Cola Company (NYSE:KO)

State of New Jersey Common Pension Fund D grew its stake in shares of The Coca-Cola Company (NYSE:KO) by 1.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,513,201 shares of the company’s stock after acquiring an additional 17,771 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Coca-Cola were worth $108,739,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. New Millennium Group LLC purchased a new position in Coca-Cola in the 2nd quarter worth about $26,000. Quarry LP purchased a new stake in Coca-Cola during the second quarter valued at approximately $27,000. ESL Trust Services LLC purchased a new position in Coca-Cola during the first quarter valued at $28,000. Hara Capital LLC bought a new position in shares of Coca-Cola during the 3rd quarter valued at approximately $35,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Coca-Cola during the 3rd quarter valued at $36,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Trading Up 0.4 %

Coca-Cola stock traded up $0.26 during midday trading on Friday, hitting $63.92. 14,719,308 shares of the stock were exchanged, compared to its average volume of 13,338,074. The stock’s 50-day simple moving average is $69.56 and its 200 day simple moving average is $66.48. The Coca-Cola Company has a fifty-two week low of $56.06 and a fifty-two week high of $73.53. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The stock has a market capitalization of $275.35 billion, a price-to-earnings ratio of 26.41, a PEG ratio of 3.87 and a beta of 0.61.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The firm had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The company’s quarterly revenue was down .8% on a year-over-year basis. During the same period last year, the company earned $0.74 EPS. On average, equities analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a $0.485 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 3.04%. Coca-Cola’s dividend payout ratio is presently 80.17%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on KO shares. Citigroup lifted their target price on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Wells Fargo & Company raised their price objective on Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Finally, Truist Financial boosted their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $71.80.

Insider Transactions at Coca-Cola

In related news, CEO James Quincey sold 102,533 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total value of $7,179,360.66. Following the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $30,987,070.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Lisa Chang sold 40,334 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $69.54, for a total value of $2,804,826.36. Following the completion of the sale, the executive vice president now directly owns 74,067 shares of the company’s stock, valued at approximately $5,150,619.18. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James Quincey sold 102,533 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 203,748 shares of company stock valued at $14,274,431. 0.97% of the stock is currently owned by company insiders.

Coca-Cola Company 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.