The Coca-Cola Co (NYSE:KO) Shares Sold by Strs Ohio

Strs Ohio lessened its position in The Coca-Cola Co (NYSE:KO) by 1.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,178,677 shares of the company’s stock after selling 32,513 shares during the period. Strs Ohio’s holdings in The Coca-Cola were worth $118,607,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in The Coca-Cola by 1.4% during the second quarter. Vanguard Group Inc. now owns 308,293,644 shares of the company’s stock worth $15,698,312,000 after purchasing an additional 4,225,080 shares during the last quarter. Northern Trust Corp increased its position in The Coca-Cola by 1.1% during the second quarter. Northern Trust Corp now owns 52,096,293 shares of the company’s stock worth $2,652,743,000 after purchasing an additional 589,927 shares during the last quarter. Morgan Stanley increased its position in The Coca-Cola by 15.0% during the second quarter. Morgan Stanley now owns 41,763,050 shares of the company’s stock worth $2,126,574,000 after purchasing an additional 5,449,889 shares during the last quarter. Nuveen Asset Management LLC increased its position in The Coca-Cola by 9,580.7% during the second quarter. Nuveen Asset Management LLC now owns 32,579,854 shares of the company’s stock worth $1,658,966,000 after purchasing an additional 32,243,310 shares during the last quarter. Finally, California Public Employees Retirement System increased its position in The Coca-Cola by 20.9% during the second quarter. California Public Employees Retirement System now owns 23,023,556 shares of the company’s stock worth $1,172,359,000 after purchasing an additional 3,984,190 shares during the last quarter. 67.51% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have issued reports on KO shares. Bank of America reiterated a “buy” rating and set a $60.00 price objective (up from $55.00) on shares of The Coca-Cola in a research note on Wednesday, July 24th. ValuEngine downgraded shares of The Coca-Cola from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. BMO Capital Markets upped their target price on shares of The Coca-Cola from $48.00 to $52.00 and gave the company a “market perform” rating in a research note on Wednesday, July 24th. Credit Suisse Group increased their price objective on shares of The Coca-Cola from $49.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Finally, Guggenheim set a $59.00 price objective on shares of The Coca-Cola and gave the company a “buy” rating in a research note on Friday. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $54.50.

In other The Coca-Cola news, insider Nikolaos Koumettis sold 146,000 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $54.31, for a total transaction of $7,929,260.00. Following the sale, the insider now directly owns 244,451 shares of the company’s stock, valued at $13,276,133.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer K. Mann sold 9,126 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $53.48, for a total transaction of $488,058.48. Following the sale, the insider now directly owns 41,175 shares in the company, valued at $2,202,039. The disclosure for this sale can be found here. Insiders have sold 429,638 shares of company stock worth $23,411,372 over the last three months. 1.33% of the stock is owned by corporate insiders.

NYSE KO traded down $0.51 during trading hours on Monday, reaching $54.27. 2,342,491 shares of the company traded hands, compared to its average volume of 10,813,450. The Coca-Cola Co has a 12 month low of $44.42 and a 12 month high of $55.92. The company has a current ratio of 0.83, a quick ratio of 0.71 and a debt-to-equity ratio of 1.44. The stock has a market capitalization of $230.01 billion, a PE ratio of 26.09, a PEG ratio of 3.74 and a beta of 0.45. The company has a 50 day moving average of $54.29 and a two-hundred day moving average of $51.51.

The Coca-Cola (NYSE:KO) last issued its earnings results on Friday, October 18th. The company reported $0.56 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.56. The company had revenue of $9.51 billion for the quarter, compared to analysts’ expectations of $9.42 billion. The Coca-Cola had a net margin of 21.11% and a return on equity of 45.67%. The firm’s revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.57 earnings per share. On average, equities research analysts anticipate that The Coca-Cola Co will post 2.1 earnings per share for the current year.

The Coca-Cola Profile

The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plant-based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

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Institutional Ownership by Quarter for The Coca-Cola (NYSE:KO)

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