New York State Common Retirement Fund Cuts Holdings in CocaCola Company (The) $KO

New York State Common Retirement Fund cut its stake in CocaCola Company (The) (NYSE:KO) by 7.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,680,101 shares of the company’s stock after selling 356,833 shares during the quarter. New York State Common Retirement Fund owned about 0.11% of CocaCola worth $310,384,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd boosted its position in shares of CocaCola by 5,142.9% during the second quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock valued at $26,000 after buying an additional 360 shares during the period. Headlands Technologies LLC bought a new position in CocaCola in the 2nd quarter worth about $26,000. Marquette Asset Management LLC bought a new stake in CocaCola during the 3rd quarter valued at $27,000. MMA Asset Management LLC purchased a new stake in shares of CocaCola in the 2nd quarter worth $34,000. Finally, GFG Capital LLC purchased a new stake in CocaCola in the second quarter worth about $34,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Activity at CocaCola

In other CocaCola news, EVP Nancy Quan sold 31,625 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $71.17, for a total value of $2,250,751.25. Following the transaction, the executive vice president owned 223,330 shares in the company, valued at approximately $15,894,396.10. This trade represents a 12.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Manuel Arroyo sold 139,689 shares of the stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $70.80, for a total transaction of $9,889,981.20. Following the completion of the sale, the executive vice president owned 58,067 shares of the company’s stock, valued at $4,111,143.60. This trade represents a 70.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 211,704 shares of company stock valued at $15,005,595. 0.90% of the stock is owned by insiders.

Analyst Ratings Changes

KO has been the subject of several recent research reports. Piper Sandler boosted their price target on shares of CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Bank of America lifted their price target on CocaCola from $78.00 to $80.00 and gave the company a “buy” rating in a report on Friday, November 7th. UBS Group restated a “buy” rating on shares of CocaCola in a research note on Friday, December 5th. Weiss Ratings reiterated a “buy (b-)” rating on shares of CocaCola in a report on Thursday, January 22nd. Finally, Wells Fargo & Company lifted their price objective on shares of CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the stock. According to data from MarketBeat.com, CocaCola presently has a consensus rating of “Buy” and a consensus target price of $79.08.

CocaCola Stock Performance

NYSE:KO opened at $73.04 on Thursday. The company has a fifty day moving average of $70.79 and a two-hundred day moving average of $69.43. CocaCola Company has a fifty-two week low of $62.35 and a fifty-two week high of $74.38. The stock has a market capitalization of $314.17 billion, a PE ratio of 24.18, a P/E/G ratio of 3.77 and a beta of 0.39. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.00 and a current ratio of 1.21.

About CocaCola

The Coca‑Cola Company (NYSE: KO) is a global beverage manufacturer, marketer and distributor best known for its flagship Coca‑Cola soda. Headquartered in Atlanta, Georgia, the company develops and sells concentrates, syrups and finished beverages across a broad portfolio of brands. Its product range spans sparkling soft drinks, bottled water, sports drinks, juices, ready‑to‑drink teas and coffees, and other still beverages, marketed under both global and regional brand names.

Coca‑Cola’s brand portfolio includes widely recognized names such as Coca‑Cola, Diet Coke, Coca‑Cola Zero Sugar, Sprite, Fanta, Minute Maid, Powerade and Dasani, and in recent years the company has expanded into the coffee and premium beverage categories through acquisitions such as Costa Coffee.