Teachers Insurance & Annuity Association of America Takes Position in The Coca-Cola Company (NYSE:KO)

Teachers Insurance & Annuity Association of America bought a new position in shares of The Coca-Cola Company (NYSE:KO) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 18,276 shares of the company’s stock, valued at approximately $1,313,000. Coca-Cola makes up 2.0% of Teachers Insurance & Annuity Association of America’s investment portfolio, making the stock its 12th biggest position.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KO. Vinva Investment Management Ltd grew its position in shares of Coca-Cola by 15.9% during the third quarter. Vinva Investment Management Ltd now owns 189,235 shares of the company’s stock valued at $13,585,000 after purchasing an additional 25,922 shares in the last quarter. Noesis Capital Mangement Corp purchased a new position in Coca-Cola during the 3rd quarter valued at approximately $233,000. Public Sector Pension Investment Board grew its holdings in Coca-Cola by 17.1% during the 3rd quarter. Public Sector Pension Investment Board now owns 140,909 shares of the company’s stock valued at $10,126,000 after buying an additional 20,600 shares in the last quarter. Fiduciary Trust Co increased its stake in Coca-Cola by 0.8% in the 3rd quarter. Fiduciary Trust Co now owns 203,298 shares of the company’s stock worth $14,609,000 after acquiring an additional 1,514 shares during the last quarter. Finally, Boussard & Gavaudan Investment Management LLP bought a new position in shares of Coca-Cola during the 3rd quarter valued at approximately $17,684,000. Institutional investors own 70.26% of the company’s stock.

Insider Activity at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the completion of the transaction, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.97% of the stock is currently owned by corporate insiders.

Coca-Cola Trading Down 0.2 %

KO traded down $0.12 on Thursday, reaching $64.43. 13,263,403 shares of the company traded hands, compared to its average volume of 13,563,657. The company has a market cap of $277.55 billion, a P/E ratio of 26.62, a price-to-earnings-growth ratio of 3.91 and a beta of 0.61. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The Coca-Cola Company has a one year low of $57.47 and a one year high of $73.53. The firm has a fifty day simple moving average of $67.34 and a two-hundred day simple moving average of $66.57.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. The firm had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. Coca-Cola’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.74 earnings per share. As a group, equities research analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 annualized dividend and a dividend yield of 3.01%. Coca-Cola’s dividend payout ratio is currently 80.17%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on KO shares. Truist Financial upped their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Morgan Stanley lowered their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Cfra reissued a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Barclays decreased their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Finally, Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus target price of $72.36.

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.