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

Illinois Municipal Retirement Fund grew its position in shares of The Coca-Cola Company (NYSE:KO) by 0.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 246,829 shares of the company’s stock after acquiring an additional 1,412 shares during the period. Illinois Municipal Retirement Fund’s holdings in Coca-Cola were worth $14,546,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. ZRC Wealth Management LLC raised its holdings in Coca-Cola by 213.3% in the fourth quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock valued at $26,000 after buying an additional 320 shares during the period. Criterion Capital Advisors LLC purchased a new position in shares of Coca-Cola in the 4th quarter valued at $30,000. Financial Connections Group Inc. acquired a new position in shares of Coca-Cola during the 4th quarter valued at $38,000. Avion Wealth boosted its position in Coca-Cola by 64.8% during the 4th quarter. Avion Wealth now owns 819 shares of the company’s stock worth $48,000 after purchasing an additional 322 shares during the period. Finally, Clear Investment Research LLC increased its holdings in Coca-Cola by 36.1% in the 3rd quarter. Clear Investment Research LLC now owns 928 shares of the company’s stock valued at $52,000 after purchasing an additional 246 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Stock Up 0.6 %

Shares of KO traded up $0.38 during midday trading on Monday, hitting $60.55. The company had a trading volume of 15,620,230 shares, compared to its average volume of 13,901,615. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 1.29. The Coca-Cola Company has a 52 week low of $51.55 and a 52 week high of $64.99. The company’s 50 day moving average price is $59.95 and its 200 day moving average price is $58.67. The stock has a market cap of $261.04 billion, a price-to-earnings ratio of 24.42, a PEG ratio of 3.44 and a beta of 0.59.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.01. Coca-Cola had a return on equity of 42.50% and a net margin of 23.42%. The firm had revenue of $10.80 billion for the quarter, compared to analysts’ expectations of $10.68 billion. During the same quarter in the prior year, the firm posted $0.45 earnings per share. Coca-Cola’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, equities research analysts predict that The Coca-Cola Company will post 2.81 EPS for the current year.

Coca-Cola Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were given a $0.485 dividend. This is a boost from Coca-Cola’s previous quarterly dividend of $0.46. The ex-dividend date was Thursday, March 14th. This represents a $1.94 annualized dividend and a yield of 3.20%. Coca-Cola’s dividend payout ratio is 78.23%.

Insider Activity

In other news, EVP Nancy Quan sold 57,368 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total value of $3,491,990.16. Following the completion of the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at $13,594,097.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Coca-Cola news, CEO James Quincey sold 247,188 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total value of $15,063,636.72. Following the completion of the sale, the chief executive officer now directly owns 442,546 shares in the company, valued at $26,968,753.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nancy Quan sold 57,368 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total value of $3,491,990.16. Following the completion of the sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $13,594,097.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 375,407 shares of company stock valued at $22,795,742. Insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on KO. Citigroup upped their target price on Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. JPMorgan Chase & Co. dropped their price objective on shares of Coca-Cola from $66.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Barclays raised their price target on shares of Coca-Cola from $66.00 to $68.00 and gave the company an “overweight” rating in a report on Friday, April 12th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $67.09.

About Coca-Cola

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.