Illinois Municipal Retirement Fund Has $21.98 Million Stock Position in CocaCola Company (The) $KO

Illinois Municipal Retirement Fund lessened its stake in shares of CocaCola Company (The) (NYSE:KO) by 4.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 310,679 shares of the company’s stock after selling 14,388 shares during the period. Illinois Municipal Retirement Fund’s holdings in CocaCola were worth $21,981,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC raised its holdings in shares of CocaCola by 13.3% in the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock valued at $2,433,000 after purchasing an additional 4,591 shares during the period. Revolve Wealth Partners LLC increased its position in CocaCola by 3.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock worth $548,000 after buying an additional 293 shares during the last quarter. Gateway Wealth Partners LLC bought a new stake in CocaCola in the first quarter valued at approximately $206,000. Fort Sheridan Advisors LLC lifted its position in shares of CocaCola by 10.0% in the first quarter. Fort Sheridan Advisors LLC now owns 5,493 shares of the company’s stock valued at $393,000 after buying an additional 500 shares during the last quarter. Finally, Kathmere Capital Management LLC boosted its stake in shares of CocaCola by 25.6% during the 1st quarter. Kathmere Capital Management LLC now owns 9,416 shares of the company’s stock worth $674,000 after acquiring an additional 1,921 shares during the period. 70.26% of the stock is currently owned by institutional investors.

CocaCola Trading Up 2.2%

Shares of NYSE:KO opened at $70.61 on Monday. The business’s 50 day simple moving average is $67.75 and its 200 day simple moving average is $69.51. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.21 and a quick ratio of 1.00. The company has a market capitalization of $303.75 billion, a P/E ratio of 23.38, a P/E/G ratio of 3.57 and a beta of 0.43.

CocaCola (NYSE:KO) last announced its quarterly earnings data on Thursday, March 27th. The company reported $0.55 earnings per share for the quarter. The firm had revenue of $11.40 billion during the quarter. CocaCola had a return on equity of 43.62% and a net margin of 27.34%. On average, research analysts anticipate that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Monday, December 1st. CocaCola’s dividend payout ratio (DPR) is currently 67.55%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. UBS Group cut their price target on CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, September 11th. Evercore ISI reaffirmed an “outperform” rating on shares of CocaCola in a report on Tuesday, October 21st. JPMorgan Chase & Co. upped their price target on shares of CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. Bank of America raised their price objective on shares of CocaCola from $78.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday. Finally, BNP Paribas reiterated an “outperform” rating and set a $83.00 target price on shares of CocaCola in a research note on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating and sixteen have issued a Buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $78.43.

Insider Buying and Selling

In related news, EVP Monica Howard Douglas sold 13,548 shares of the stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $69.93, for a total transaction of $947,411.64. Following the sale, the executive vice president owned 37,725 shares in the company, valued at approximately $2,638,109.25. This trade represents a 26.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Max R. Levchin bought 7,206 shares of the business’s stock in a transaction on Friday, October 24th. The shares were acquired at an average price of $69.87 per share, with a total value of $503,483.22. Following the completion of the purchase, the director directly owned 14,267 shares of the company’s stock, valued at approximately $996,835.29. The trade was a 102.05% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 0.97% of the company’s stock.

CocaCola 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.