PGGM Investments Sells 77,977 Shares of The Coca-Cola Company (NYSE:KO)

PGGM Investments lessened its position in shares of The Coca-Cola Company (NYSE:KO) by 44.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,756 shares of the company’s stock after selling 77,977 shares during the period. PGGM Investments’ holdings in Coca-Cola were worth $6,095,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in KO. Tidemark LLC acquired a new position in shares of Coca-Cola during the 4th quarter worth about $26,000. Private Wealth Management Group LLC acquired a new position in shares of Coca-Cola during the 4th quarter worth about $27,000. Redmont Wealth Advisors LLC acquired a new position in shares of Coca-Cola during the 1st quarter worth about $28,000. ESL Trust Services LLC acquired a new stake in Coca-Cola in the 1st quarter valued at about $28,000. Finally, Criterion Capital Advisors LLC acquired a new stake in Coca-Cola in the 4th quarter valued at about $30,000. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Up 0.1 %

NYSE:KO traded up $0.09 on Thursday, reaching $68.67. 3,944,818 shares of the stock traded hands, compared to its average volume of 13,009,541. The company has a market capitalization of $295.83 billion, a price-to-earnings ratio of 27.42, a PEG ratio of 3.80 and a beta of 0.59. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The Coca-Cola Company has a 12 month low of $51.55 and a 12 month high of $69.67. The company’s fifty day simple moving average is $64.92 and its 200 day simple moving average is $62.26.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The company had revenue of $12.40 billion for the quarter, compared to the consensus estimate of $11.78 billion. During the same quarter last year, the firm posted $0.78 earnings per share. The firm’s revenue was up 3.3% compared to the same quarter last year. Equities analysts predict that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend is Friday, September 13th. Coca-Cola’s dividend payout ratio (DPR) is 77.60%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on KO shares. Evercore ISI raised their target price on shares of Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Wells Fargo & Company increased their price target on shares of Coca-Cola from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. StockNews.com cut shares of Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. JPMorgan Chase & Co. increased their price target on shares of Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Finally, Truist Financial increased their price target on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.20.

Insider Transactions at Coca-Cola

In other Coca-Cola news, EVP Lisa Chang sold 58,122 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $68.51, for a total transaction of $3,981,938.22. Following the completion of the sale, the executive vice president now directly owns 74,067 shares of the company’s stock, valued at $5,074,330.17. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Coca-Cola news, EVP Nancy Quan sold 18,482 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $68.95, for a total transaction of $1,274,333.90. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $15,398,603.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Lisa Chang sold 58,122 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $68.51, for a total transaction of $3,981,938.22. Following the transaction, the executive vice president now directly owns 74,067 shares of the company’s stock, valued at $5,074,330.17. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 871,162 shares of company stock worth $571,697,887. Insiders own 0.97% of the company’s stock.

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.