Kentucky Retirement Systems Sells 3,672 Shares of The Coca-Cola Company (NYSE:KO)

Kentucky Retirement Systems trimmed its holdings in The Coca-Cola Company (NYSE:KO) by 1.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 266,552 shares of the company’s stock after selling 3,672 shares during the period. Coca-Cola accounts for approximately 0.5% of Kentucky Retirement Systems’ holdings, making the stock its 29th largest position. Kentucky Retirement Systems’ holdings in Coca-Cola were worth $16,596,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Hara Capital LLC bought a new stake in shares of Coca-Cola during the 3rd quarter worth $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Coca-Cola during the 3rd quarter worth $36,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Coca-Cola during the 3rd quarter worth $43,000. Retirement Wealth Solutions LLC bought a new stake in shares of Coca-Cola during the 4th quarter worth $37,000. Finally, MilWealth Group LLC bought a new stake in shares of Coca-Cola during the 4th quarter worth $40,000. 70.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. cut their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Morgan Stanley increased their price objective on shares of Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Royal Bank of Canada restated an “outperform” rating and issued a $69.00 price objective on shares of Coca-Cola in a research note on Thursday, February 6th. Barclays increased their price objective on shares of Coca-Cola from $66.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Finally, DZ Bank upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $73.82.

Coca-Cola Stock Down 0.1 %

Shares of NYSE KO opened at $70.03 on Friday. The firm has a market capitalization of $301.69 billion, a PE ratio of 28.35, a price-to-earnings-growth ratio of 3.79 and a beta of 0.61. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53. The firm’s 50-day moving average is $63.54 and its 200-day moving average is $66.41.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. Equities analysts expect that The Coca-Cola Company will post 2.96 EPS for the current year.

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.